Hi , in this script i tried to find reversal points on big trends. For this purpose i have used Supertrend and Donchian channels. I combined both in a single indicator for finding reversal points. I am suggesting for using higher time frames like 4 hours or 1 day. It will be work in lower time frames too. But the signals will be less reliable than higher timeframes. Here is settings in this script:
New low sensitiity : this setting for donchian channels lookback. Bigger value result as less signals. Atr Period: Period for Atr , it is for supertrend indicator in it. Source: Source for supertrend indicator. Atr Multiplier : Atr multiplier setting for Supertrend. Bigger value will be result as less signals.
Hello, Thank you for sharing that script it is interesting. But I see the sell signals are on red candle and buy signals are on green candles. My question is can it be reversed ???? Thank you
ayman-trade
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Can you please add alerts for the buy and sell : )