Dead Simple Reversal Indicator for ThinkorSwim

BenTen

BenTen

Administrative
Staff
VIP
This indicator finds possible points of reversion, you can use it to stack positions and get a good average price for when the price changes direction, it is the trader responsibility to manage the position and make a profit.


thinkScript Code

Code:
# Dead Simple Reversal Points
# Assembled by BenTen at useThinkScript.com
# Converted from https://www.tradingview.com/script/QJ5VgF0D-Simple-Reversal-Point/

# Define Conditions
def c1 = close[1] < open[1] and close > open;
def c2 = close > open[1];
def c3 = lowest(low, 3) < lowest(low, 50)[1] or lowest(low,3) < lowest(low,50)[2] or lowest(low,3) < lowest(low,50)[3];
def buy = c1 and c2 and c3;
def c4 = close[1] > open[1] and close<open;
def c5 = close<open[1];
def c6 = highest(high, 3) > highest(high, 50)[1] or highest(high,3) > highest(high,50)[2] or highest(high,3) > highest(high,50)[3];
def sell = c4 and c5 and c6;

# Plot Signals
plot bullish = buy;
bullish.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
bullish.SetDefaultColor(Color.CYAN);
bullish.SetLineWeight(1);
plot bearish = sell;
bearish.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
bearish.SetDefaultColor(Color.CYAN);
bearish.SetLineWeight(1);
 
H

HighBredCloud

Active member
@BenTen are these arrows delayed in anyway like the TTM Scalper or realtime?
 

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