HPotter

Key Reversal Up

A key reversal is a one-day trading pattern that may signal the reversal of a trend.
Other frequently-used names for key reversal include "one-day reversal" and "reversal day."

How Does a Key Reversal Work?
Depending on which way the stock is trending, a key reversal day occurs when:
In an uptrend -- prices hit a new high and then close near the previous day's lows.
In a downtrend -- prices hit a new low, but close near the previous day's highs
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?
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Kommentarer

Hello @HPotter , thank you very much for sharing this script. The study looks really good and would like to try it out on some trades, though I can't seem to figure out how to get the alerts right. What would be the alertcondition command to create alerts on Long and Shorts? Any help would be appreciated.

Cheers.
+2 Svara
Hey mate thanks for the great effort putting all these indicators and strategies online. Would you be able to add a volume component to these reversals? As described by https://www.amazon.com/L.A.-Little/e/B002BOFR0G%3Fref=dbs_a_mng_rwt_scns_share . LA Little looks for reversals that have lower volume than the previous high/low. The perception is that high volume reversal bars are the ones to buy/sell while the high volume means high odds that that level is going to be tested again. Low volume reversal bars indicate buyer or seller fatigue and are the better reversal bars to buy or to sell. I can recccomend reading La Litle's books his indicators have been thoroughly backtested.

Keep up the good work
+2 Svara
Hello @HPotter, I tried the KRU & KRD indicators together and its amazing. May i know which is ideal candle stick or Bars? what's the ideal number of bars back test in a trend market? appreciate your valuable time.
+1 Svara
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