Reversal Bars

Reversals, both upward and downward, show where major market participants believe a stock has gone too far and can often mark a change in trend.

Upside Reversal:
Current bar undercuts previous bar
Price closes in the upper 60% of the range

Downside Reversal:
Current bar makes a high above previous bar
Price closes in the lower 60% of the range

This indicator will plot a label below an upside reversal and above a downside reversal that shows the closing range of the bar.

Versionsinformation:

Can now select label colors.

Versionsinformation:

Can now show the last upside and downside reversal or choose to show only upside or only downside reversals.

Versionsinformation:

Option to show historical reversal bars

Versionsinformation:

Alert function added

Versionsinformation:

Small change to label placement and ability to choose text color for labels.