TrendReverse
Difference Between a Reversal and a Pullback
A reversal is a trend change in the price of an asset. A pullback is a counter-move within a trend that doesn't reverse the trend. An uptrend is created by higher swing highs and higher swing lows. Pullbacks create the higher lows. Therefore, a reversal of the uptrend doesn't occur until the price makes a lower low on the time frame the trader is watching. Reversals always start as potential pullbacks. Which one it will ultimately turn out to be is unknown when it starts.
The indicator will give you signals when there is a high chance of reversal, but in reality you will trade a pullback until it turns into a trend.
Is this indicator profitable?
Yes.
See the screenshots to see my strategy .
Features:
Scalping
Trend TF - M15
CalculateOnBarClose1 - 1
Trend1 - 100
Trend2 - 100
Entry TF - M15
Entry Period - 8
Trend
CalculateOnBarClose1 - 1
Trend1 - 950
Trend2 - 1350
Entry TF - H1
Entry Period -21
Strong Trend
CalculateOnBarClose1 - 1
Trend1 - 950
Trend2 - 1350
Entry TF - H4
Entry Period -21
Enable Alerts - true/false
Enable Push Notifications - true/false
Alert Delay (Candles) - 1
Enable Scalping Arrows/Alerts - true/false
Enable Trend Arrows/Alerts - true/false
Enable Strong Trend Arrows/Alerts - true/false
Distance between Signals Scalping - 30
Distance between Signals Trend - 50
Distance between Signals Strong Trend - 100
