Hello everyone. I’m looking for a reversal indicator which is actually works in a very simple way but I was unable to find one, so any help is appreciated.
Description:
The Indicator follows the price of the market and compares 3 prices and looks for a price reversal of x pips in x minutes at certain price levels.
For Example:
The price for EUR/USD is at 1.2000 right now, The indicator needs to follow the price of the market, it is set to track the market and compare price at every 25 pip intervals. The price for EUR/USD went up to 1.2025, and then back down to 1.2000, this happened in 15 minutes and also the price closed below 1.2000 so we get a sell signal. So, it is important that we only get a buy/sell signal if the price is closed above/below the price level)
Parameters:
Alerts on: true/false
Pip intervals: 25 (The indicator will look for price reversal when the market reaches certain price levels, for example 1.0000, 1.0025, 1.0050, 1.0075, 1.0100, etc)
Reversal Time: 15 (minutes, the market needs to reverse in 15 minutes or less, or the indicator will not signal)