Break/Reversal/Touch [Intromoto]

This script shows the engulfing breaks, touches and potential reversals for when prices arrives at certain time frame closes.

On publishing it shows the crossovers of the 6 hour, Daily, Weekly, and Monthly time frames.

The candle main signals are contingent on crossing over the closing level, and engulfing the previous candle. Secondary signals occur when the candle low or high touch the closing levels, in the directional color, i.e. you'll get a bearish touch signal if the candle high touches the level, and it's a red candle. Reversals occur when the subsequent candle breaks a closing level, but the current candle engulfs the previous candle in the opposing direction.

If a candles low or high hits a daily, weekly, or monthly close level it also will plot a "D/W/M Touch" in the according direction.

Versionshinweise: Styling and fixed repainting for plots. Visible by default
Versionshinweise: Removed 6 hour res. Style changes. Added alerts.

Open-source Skript

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.

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