High and Low Reversals Indicator + Day Trading Strategy

BenTen

BenTen

Administrative
Staff
VIP
@muztem This is for regular trading hours only, I believe.
 
J

jcga1981

New member
Hi, does the indicator only give signals to reverse put? not to invest call?
Thank you
 
BenTen

BenTen

Administrative
Staff
VIP
@jcga1981 Make sure you have extended market hours enabled.
 
J

jcga1981

New member
@jcga1981 Make sure you have extended market hours enabled.
I have not activated the extended schedule .... I am testing the strategy in OnDemand, ... I don't know if that will be the reason, but I am surprised that only PUT signals appear.
Could you tell me what is the criterion to predict the movement's reversal? I was observing that sometimes it gives a signal that is wrong and immediately recalculates it in search of a new signal ... but I would like to know what is the criteria used to use the indicator only as a confirmation ... Last, at what time frame is it more reliable?
thanks and sorry for so many questions
 
S

Spencer519

New member
For people who have tested this strategy/indicator is the 5m time frame the best time frame? I have been toying around with it on 1m and the arrows will show and then disappear since the price fluctuates above/below the line. I have not backtested anything else, was just wondering if anyone has toyed with multiple time frames and which seem to be reliable. Thank you!
 
D

dreamscape25

New member
Not to sound lazy or you need spoon feed but is there a way to back test this strategy? Does it require manual intervention or is there a custom code to test it which gives the stats?
 
BenTen

BenTen

Administrative
Staff
VIP
@dreamscape25 This indicator will repaint if the signal is wrong, therefore, not compatible for backtesting.
 
T

Thomas

Active member
@BenTen I am not TOS expert, but based on what I used, if you do not set offset in the study scan, then the alert could be within 5 minutes depending on when the TD TOS alert schedule runs.

Since many times stocks retest, we can wait for retest to enter near the stop loss line.



I think it makes sense to also refer to pivot points and boll band so that we do enter and then hit support and resistance immediately.

Again, I feel like 9:40 11:00 am and then 2:00-3:30 pm offer the best directional movements for trading using such indicator to work nicely. In the middle consolidation period, the margin of error is so small which makes trading using the indicator very hard esp. for names with wide spreads which need to be avoided I think.
According to what I remember Mobius mentioning, the scanner works every three minutes.....
 
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dreamscape25

New member
@BenTen: Is it possible for you to share the code on how program an alert for this study and explain in brief? I am new to this platform and do not know anything about writing an alert :( Let me know.
 
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Trading51

Active member
2019 Donor
Warehouse
@BenTen This looks interesting, have you watched a lot during trading hours, do these arrows and lines re adjust let's say there's a green buy arrow up and the price is in a downtrend and price continues lower what happens to that line and arrow does it relocate at a new lower buy area, any feedback thanks.
 
BenTen

BenTen

Administrative
Staff
VIP
@Trading51 It's somewhat similar to the trend reversal indicator. If the stock reverses, the signal will be gone.
 

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