Bullish reversal and bounce off support

• 07/10/2025 at 1:50 AM #248773
  MrMagic

  Hi friends,

  I’m not sure if this is possible especially the part about price going back and retesting a broken level but I’d really appreciate any help or suggestions on how best to approach it. Maybe I haven’t explained the chart perfectly, but I’m doing my best to describe the picture and setup I’m trying to capture.

   

  Could you help me code a bullish screener that captures early reversal setups like the one shown in the attached chart? I’m happy for better suggestions.

   

  Conditions to Detect:

  Price bounce:

  • Price has been in a downward trend and is now bouncing off a recent support level, e.g. 0.5800, or has bounced within last two candles

  • Price is closing above a previous resistance or retesting a broken level

   

  MACD bullish confirmation:

  • MACD (12,26,9) line is above the signal line (bullish)

   

  Stochastic Oscillator (14,3,5) confirmation:

  • %K crossing above %D or has crossed within last two candles

   

  Volume confirmation:

  • Volume above 1,000,000

   

  Let me know if it can be done or if there’s a better way to write it.

  Thanks so much!

  KR,

  

  MrMagic

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  07/10/2025 at 10:44 AM #248781
  Iván

  Hi. May this could be useful for you:

  //------------------------------------------------// //--- Inputs --- //------------------------------------------------// prd=10 //--- Pivot Low Detection --- PivotLowDetected=low[prd]=lowest[2*prd+1](low) if PivotLowDetected then pl2=pl1 pl1=low[prd] endif //------------------------------------------------// // --- Direction --- //------------------------------------------------// ema50=average[50](close) if close < ema50 then direction=-1 else direction=1 endif //------------------------------------------------// // --- Setup --- //------------------------------------------------// crossSto=Stochastic[14,3](close) crosses over Stochasticd[14,3,5](close) barsCross=barssince(crossSto) if direction=-1 and pl1*1.01>pl2 and pl1*0.99<pl2 and macdline[12,26,9]>macdsignal[12,26,9] and barsCross>=0 and barsCross<=3 then setup=1 else setup=0 endif //------------------------------------------------// screener[setup and volume>1000000](barsCross as "Bars Cross")

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  //------------------------------------------------// //--- Inputs --- //------------------------------------------------// prd=10 //--- Pivot Low Detection --- PivotLowDetected=low[prd]=lowest[2*prd+1](low)   if PivotLowDetected then pl2=pl1 pl1=low[prd] endif //------------------------------------------------// // --- Direction --- //------------------------------------------------// ema50=average[50](close) if close < ema50 then direction=-1 else direction=1 endif //------------------------------------------------// // --- Setup --- //------------------------------------------------// crossSto=Stochastic[14,3](close) crosses over Stochasticd[14,3,5](close) barsCross=barssince(crossSto)   if direction=-1 and pl1*1.01>pl2 and pl1*0.99<pl2 and macdline[12,26,9]>macdsignal[12,26,9] and barsCross>=0 and barsCross<=3 then setup=1 else setup=0 endif   //------------------------------------------------// screener[setup and volume>1000000](barsCross as "Bars Cross")

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  Iván

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  07/12/2025 at 10:44 AM #248821
  JS

  Creative screener, top…

  To determine the trend direction, an EMA50 is used, but the instruction currently refers to an SMA50, this should be EMA50 = Average[50,1](Close)

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  JS

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  07/12/2025 at 4:39 PM #248838
  robertogozzi

  I just want to remind about a 256-bar limit for screeners used in the complete version (the one provided by IG), so an EMA may roughly use 80 periods at most, not the full 256, due to its inner calculations.

  The Premium version offered by PRT extends that limit to 1024  bars, thus an ema might support larger periods.

   

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