Bullish reversal and bounce off support

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

    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,

    Screenshot-2025-07-10-at-01.22.15.png Screenshot-2025-07-10-at-01.22.15.png
    07/10/2025 at 10:44 AM #248781 quote
    Iván González
    Moderator
    Master
    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")
    robertogozzi, MrMagic and JS thanked this post
    07/12/2025 at 10:44 AM #248821 quote
    JS
    Participant
    Senior
    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)
    robertogozzi, Iván González and MrMagic thanked this post
    07/12/2025 at 4:39 PM #248838 quote
    robertogozzi
    Moderator
    Master
    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.
    JS, Iván González and MrMagic thanked this post
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Bullish reversal and bounce off support


ProScreener: Market Scanners & Detection

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MrMagic @mrmagic Participant
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This topic contains 3 replies,
has 4 voices, and was last updated by robertogozzi
7 months, 3 weeks ago.

Topic Details
Forum: ProScreener: Market Scanners & Detection
Language: English
Started: 07/10/2025
Status: Active
Attachments: 1 files
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