Heikin Ashi 1h Reversal Strategy [Mr_Orange]
This my first published script, so if there are tips or questions, please let me know.
The goal of the script is to recognise a reversal pattern from bearish to bullish sentiment on a 1 hour chart. I want my trade entries to be "mechanically chosen" and not emotionally.
I have seen Heikin Ashi chart reversal scripts, as well as scripts to identify patterns on Stoch RSI , what I was looking for was a Heikin Ashi Reversal Candlestick Pattern which uses the Stochastic RSI as a confirmation for a reversal from bearish to bullish sentiment. I've yet to find one of those, so I decided to study pine scripts and make one myself that works the way I want, and because I've written it myself, I understand how it works. It is purely designed for the 1h chart and Heikin Ashi candles, please do not use it with regular candles. Other timeframes I have not studied, but in my experience, the smaller the timeframes, the trickier it gets, the higer, the more reliable.
At the moment I only included a Buy alert. I have not yet decided on a Sell signal/alert.
Thanks for checking it out!
If you think it is worth something:
- BTC: 1NrG3Sy2VW8u4wWHucj1CQjKQ6hXYwbSyX
The goal of the script is to recognise a reversal pattern from bearish to bullish sentiment on a 1 hour chart. I want my trade entries to be "mechanically chosen" and not emotionally.
I have seen Heikin Ashi chart reversal scripts, as well as scripts to identify patterns on Stoch RSI , what I was looking for was a Heikin Ashi Reversal Candlestick Pattern which uses the Stochastic RSI as a confirmation for a reversal from bearish to bullish sentiment. I've yet to find one of those, so I decided to study pine scripts and make one myself that works the way I want, and because I've written it myself, I understand how it works. It is purely designed for the 1h chart and Heikin Ashi candles, please do not use it with regular candles. Other timeframes I have not studied, but in my experience, the smaller the timeframes, the trickier it gets, the higer, the more reliable.
At the moment I only included a Buy alert. I have not yet decided on a Sell signal/alert.
Thanks for checking it out!
If you think it is worth something:
- BTC: 1NrG3Sy2VW8u4wWHucj1CQjKQ6hXYwbSyX
Versionshinweise:
Changed the buy signal, it is now more "certain" of a trend reversal. Also have tested this on the 15m and daily timeframes, which look good as well.