Peak Profit v2 (Reversal Points & High/Low Waveform)
This script includes two different methods of indication.
It includes a High/Low Waveform. It is a technical indicator that is best performed when using a trailing stop, it also works well as a trend line.
Trade with caution however the general idea is to buy when line turns green, and sell when the line turns red.
This can be disabled by clicking the checkmark in the visual settings of the script.
Second Feature is an indicator for Reversal points. These show a price to "enter long" and "take profit"
This part of the script looks for a series of consecutive closes greater than or less four closing price bars to define an underlying uptrend or downtrend.
In general, minor price reversals are associated with the completion of the trend and major market turning points are identified by the completion of a trend of a specific series of bar openings/closes.
As always, this script should not be relied upon alone for your sole indication of buying and selling. Use your own intuition and other indicators along with this one for the best results.
It includes a High/Low Waveform. It is a technical indicator that is best performed when using a trailing stop, it also works well as a trend line.
Trade with caution however the general idea is to buy when line turns green, and sell when the line turns red.
This can be disabled by clicking the checkmark in the visual settings of the script.
Second Feature is an indicator for Reversal points. These show a price to "enter long" and "take profit"
This part of the script looks for a series of consecutive closes greater than or less four closing price bars to define an underlying uptrend or downtrend.
In general, minor price reversals are associated with the completion of the trend and major market turning points are identified by the completion of a trend of a specific series of bar openings/closes.
As always, this script should not be relied upon alone for your sole indication of buying and selling. Use your own intuition and other indicators along with this one for the best results.
Versionsinformation:
Added new Default Values of Hi/Low Indicator, also added adjustment values for High and Low Frequencies.
Versionsinformation:
In this update I have added 2 new features.
The first feature is a EMA cloud. This EMA tracks the 20, 50, 80, and 100 day EMA.
The second feature is a Fear/Greed index. This will signal a green candle (Greed) on top when the RSI reaches higher high, and signal a red candle(Fear) on bottom when the RSI reaches a lower low.
The first feature is a EMA cloud. This EMA tracks the 20, 50, 80, and 100 day EMA.
The second feature is a Fear/Greed index. This will signal a green candle (Greed) on top when the RSI reaches higher high, and signal a red candle(Fear) on bottom when the RSI reaches a lower low.
Versionsinformation:
- Added Automatic Trend lines.
- Added Adjustable high and low inputs for auto trend lines.
- Disabled High/low Waveform.
- Added Adjustable high and low inputs for auto trend lines.
- Disabled High/low Waveform.