Reversal Candle Concept

Quoting BlueRain

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Sure. Here that is ….I picked up from some place I don't remember. It is actually TMA ATR Channel and I have attached template for this. There will be about 6 or 7 multipliers you can use but I only use 2. {file} {file}

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Quoting BlueRain

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It might need a bit of adjustment on the final bar how it process. let me know so we can change this.

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Quoting rpasupathy

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{quote} Sir, Just a small request on the Indicator : DailyHighLowWithRevesalCandle.mq4 Its working good but I noticed a couple of things -- 1. is it possible to Alert only ONCE when I check the option " Alert on Open Bar " as it keeps alerting for every tick ... Indicator should Alert only once when the condition happens anytime during the open bar... 2. The previous High or low arrow disappears when a new High or Low of the condition happens.... Can...

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Quoting BlueRain

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{quote} Fixing alert should be easy one... Keeping old highest/lowest arrow is totally possible. Currently, it is resetting on every tick.. and I just need to disable that one. But, I think it defeats itself if it shows multiple highest or lowest point per day. Let me check and I will get back to you later.

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Quoting rpasupathy

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{quote} Thanks a lot Sir .... Priority will be : 1. Fixing Alerts 2. Keeping the Arrows without disappearing ... even when new intraday low or high is formed ... Thanks a lot for your time sir ...

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Quoting Frag8383

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{quote} Is the repaint version of TMA Channel, how do you use it, centre line up and price goes between the bottom channel? Do you use any other confirming indicator? Thanks Kind Regards

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Quoting BlueRain

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{quote} See revised indicator and let me know if there is a bit more adjustment needed. {file}

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Quoting BlueRain

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{quote} See revised indicator and let me know if there is a bit more adjustment needed. {file}

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Quoting rpasupathy

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{quote} Sir, I ran the Indicator during live market and these are my observations : The previous version was working better ..... the new version has lot of false signals and also alerts on every tick .... Just a humble request : I will stick on with the previous version which I will attach here ... Can you please change the following = 1. Alert SHOULD NOT be on every tick ... It should be only on candle close : I will stick on with candle close for just 1 alert Thanks once again for your valuable time ... {file}

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Quoting BlueRain

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{quote} 2nd version is just checking if highest/lowest value was highest or lowest of day at that time and if candle is reversed. Basically, it was simple tweak of Daily High Low version. For sure, there might be many highest/lowest values. When you have alert on open bar - specially your condition that candle down or up, it could generate a lot of alerts as conditions change as it progress. Let me change a bit again and get back to you. I will try to combine two versions with options. Please check revised #3 You have options to display all arrows,...

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Quoting Rafaz1

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Good work and something new to consider .... Just remember the high/low of the Day is not the only consideration but take the trade in line with the higher timeframe structure Keep up the good work

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Quoting BlueRain

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It seems what you are really looking for was "Daily High Low" with Reversal Candle, not Fractal. Please check below 1. Original Daily High Low - which will draw line of Daily High Low 2. Modified version of Daily High Low to check Reversal Candle on High Low point with arrow Try out and see if this works or in need of modification. {file} {file} {image}

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Quoting 0xff

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{quote} Hi. On the chart that you showed there should be more arrows. Conditions for a down arrow - a new high of the day on bearish candle. Conditions for the up arrow are the reverse - updating the low of a day on bullish candle. On screenshot I showed with orange arrows where there should be down arrows for sale and green where there are for buy. {image}

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Quoting rpasupathy

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{quote} Thanks a lot Sir ... Thanks for your valuable time and inputs ... Will check it in live market and get back to you ..

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Quoting BlueRain

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{quote} Revised #4 - I have expended this to longer term like H4 for Weekly separator, D1 for monthly. Previous version was only checking Daily time frame where this one check if this is new week or new month. {file}

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Quoting Vicente

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{quote} Good afternoon BlueRain, first of all thank you for sharing your work with us. Sorry if it is too much to ask, is it possible to have this indicator for MT5 ?. Thanks and regards from Ecuador

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Quoting BlueRain

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{quote} 2nd version is just checking if highest/lowest value was highest or lowest of day at that time and if candle is reversed. Basically, it was simple tweak of Daily High Low version. For sure, there might be many highest/lowest values. When you have alert on open bar - specially your condition that candle down or up, it could generate a lot of alerts as conditions change as it progress. Let me change a bit again and get back to you. I will try to combine two versions with options. Please check revised #3 You have options to display all arrows,...

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