Reversal point indicator

This works well. But it works even better if you use the Ehler’s Mesa (Cycle) Period Finder! https://www.prorealcode.com/topic/ehlers-sinewave-indicator/

Here’s a screenshot of the difference between the standard indicator with default settings and an indicator that has Ehler’s Universal Oscillator replacing the standard Oscillator and uses Ehler’s MESA Period to determine the cycle period. The S&P500 period was found at 32 bars and I used an average of 25 bar cycles.

The modified indicator seems to take less false short signals while picking up a few more longs. My arrows are dark green and orange.

The only thing that isn’t working is the variable settings window control of the Oscillator bandedge values, that has to be set manually within the code and not from the settings window. Not sure why? If anyone had any ideas that’d be appreciated.
I’m not a coder so please let me know if it’s not coded correctly. Cheers.

https://www.dropbox.com/s/ardrak2xsg5ehrv/Reversalpointunivosc.png?dl=0

(Neither Firefox or Chrome is adding the code here).

//PRC_Reversal point indicator | indicator
//09.04.2017
//Nicolas @ http://www.prorealcode.com
//Sharing ProRealTime knowledge
//https://www.prorealcode.com/topic/need-help-coding-the-following-reversal-indicator/

//LowestLow = 50 — Use Mesa Period
//HighestHigh = 50

// DrawText
offset1 = 17 * pipsize //150 Dow
//offset2 = offset1 * 4 // Default = 4

//Bandedge = 25

UnivOsc = MyUnivOsc

MyUnivOsc, ignored = Call “Ehler’s Univ Osc SuperSmoother”[25]

// LONG
//Red/Green candle (reversal)
//Bullish candle close above the open of the previous red candle
//Space to the left (the low of the last 3 candles lower than the low of the last 50 candles)
//default stochastic (8,3,3) was in the oversold area within the last 3 candles

c1 = close[1]open
c2 = close>open[1] //default >
c3 = lowest[3](low)<lowest[LowestLow](low)[1] or lowest[3](low)<lowest[LowestLow](low)[2] or lowest[3](low)<lowest[LowestLow](low)[3]
c4 = summation[3](UnivOsc0
long = c1 and c2 and c3 and c4

if long then
drawarrowup(barindex,lowest[3](low)-offset1) coloured(51,102,0) //=dark green //default (0,255,0)
endif

// SHORT
//Green/Red candle (reversal)
//Bearish candle close below the close of the previous green candle
//Space to the left (the high of the last 3 candles higher than the high of the last 50 candles)
//default stochastic (8,3,3) was in the overbought area within the last 3 candles.

c5 = close[1]>open[1] and close<open
c6 = close<open[1] //default highest[HighestHigh](high)[1] or highest[3](high)>highest[HighestHigh](high)[2] or highest[3](high)>highest[HighestHigh](high)[3]
c8 = summation[3](UnivOsc>0.9)>0
short = c5 and c6 and c7 and c8

if short then
drawarrowdown(barindex,highest[3](high)+offset1) coloured(255,153,0) //=orange //default (255,0,0)
endif

return long as “Long Reversal”, short as “Short Reversal”

Can anyone figure out how to automate it using assisted creation? I tried this — pls see image:

https://www.dropbox.com/s/4lw5j7miwv2sm4f/reversalassitedcreation.png?dl=0

but it won’t take trades at the position of the arrows. (Takes no trades). Cheers!

Thanks Nicolas, does it repaint like the Belkhayate indicator?

No worries!

What I meant is when I create an assisted ProBacktest it won’t take any trades if I set Buy to:
When Price, (or high, or close) = Reversal Point Indic (25 25 20), Buy 10 per point.

I had also tried:
When Reversal Point Indic (25 25 20), = Reversal Point Indic (25 25 20), Buy 10 per point… but of course it just buys every single bar regardless of where the drawarrowup and drawarrowdown arrows are on the chart.

So if I want to get it to buy (and sell) at the exact points where those drawarrowup and drawarrowdown markers are on the price chart how do I set the conditions in assisted creation?
(I did try your suggestion aswell and used barindex,close, but it takes no trades).

Cheers,