**

*⚠*This thread has exhausted its substantive discussion of this indicator so it has been locked*⚠**Regular Trading Hours High and Low Reversals*. It was created by Mobius.

### thinkScript Code

Rich (BB code):

```
# Regular Trading Hours High and Low Reversals
# Mobius
# V01.08.20.2018 Chat Room Request
# Alerts added by BenTen at useThinkScript.com
def h = high;
def l = low;
def c = close;
def x = barNumber();
def nan = double.nan;
def rth = getTime() >= RegularTradingStart(getYYYYMMDD()) and
getTime() <= RegularTradingEnd(getYYYYMMDD());
def LOD = if rth and !rth[1]
then l
else if rth and l < LOD[1]
then l
else LOD[1];
def LOD_x = if l == LOD and rth
then x
else nan;
def LOD_h = if l == LOD
then h
else LOD_h[1];
plot LOD_h_line = if x >= highestAll(LOD_x)
then highestAll(if isNaN(c[-1])
then LOD_h
else nan)
else nan;
LOD_h_line.SetDefaultColor(createColor(25,180,25));
LOD_h_line.hideBubble();
LOD_h_line.hideTitle();
def upBar = if c crosses above LOD_H_line and RTH
then x
else upBar[1];
plot ArrowUP = if x == highestAll(upBar)
then l - (2*TickSize())
else nan;
ArrowUP.SetPaintingStrategy(PaintingStrategy.Arrow_UP);
ArrowUP.SetLineWeight(3);
ArrowUP.SetDefaultColor(createColor(25,180,25));
ArrowUP.HideBubble();
ArrowUP.HideTitle();
def HOD = if rth and !rth[1]
then h
else if rth and h > HOD[1]
then h
else HOD[1];
def HOD_x = if h == HOD and rth
then x
else nan;
def HOD_l = if h == HOD
then l
else HOD_l[1];
plot HOD_l_line = if x >= highestAll(HOD_x)
then highestAll(if isNaN(c[-1])
then HOD_l
else nan)
else nan;
HOD_l_line.SetDefaultColor(createColor(75, 55, 175));
HOD_l_line.HideTitle();
HOD_l_line.HideBubble();
def dnBar = if c crosses below HOD_l_line
then x
else dnBar[1];
plot ArrowDN = if x == highestAll(dnBar)
then h + (2*TickSize())
else nan;
ArrowDN.SetPaintingStrategy(PaintingStrategy.Arrow_DOWN);
ArrowDN.SetLineWeight(3);
ArrowDN.SetDefaultColor(createColor(75,55,175));
ArrowDN.HideBubble();
ArrowDN.HideTitle();
# Alerts
Alert(ArrowUP, " ", Alert.Bar, Sound.Chimes);
Alert(ArrowDN, " ", Alert.Bar, Sound.Bell);
# End Code
```

### Shareable Link

https://tos.mx/rNBdj3### High and Low Reversals Strategy for Day Trading

This indicator look for potential reversal after a stock just hit high of the day. It will tell you when to short via a down arrow. The purple line indicates where to cut your losses.**Rules:**

- Buy when up or down arrow appears
- If any of the candles after the initial signal closed above the purple line then the reversal play is no longer playable. It's time to cut.

**Examples:**

I personally use this strategy on the 5 min. timeframe.

Happy trading.

### Video Tutorial

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