Reversal Signal [5ema]

16. Aug. 2023

This indicator can find a reversal point when the price is oversold, the breakout is far from the EMA.
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*How to calculate?

• Find the minimum (maximum) value on five EMAs: 20, 50, 200, 460, 610.
  
• Calculate the number left bars with condition that is completely above (below) the min (max) EMA line.
  
• The signal bar is Engulfing bar.
  

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*How to appear signal?

• Have signal bar cross the min (max) EMA line.
  
• The number left bars that is completely above (below) the min (max) EMA line greater than inputting.
  

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How to use?

• Can change the value of EMAs to suitable with symbols and strategy.
  
• Can change the number left bars to suitable with symbols and strategy.
  
• Can see the trend cloud to recognize the trending.
  
• Review a strategy when appear the signal on chart.
  
• Make the alert when appear the signal.
  
• Can choose only Buy or Sell signal.
  

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This indicator is for reference only, you need your own method and strategy.
If you have any questions, please let me know in the comments.

28. Aug. 2023

Versionshinweise

Update:
- Signal shape style.
- Alert content.

28. Aug. 2023

Versionshinweise

Update:
- Alert content.

28. Aug. 2023

Versionshinweise

Update:
- Add input color of signal labels.