Reversal Bar Indicator/Scan

[kalivibe]

I am pretty new here. I wanted to see if there is a way to program an indicator and scan for the following price action.

For Long trades:

• Previous bar close < open
• Current bar open > close
• current bar low < previous bar
• Lower highs for last 3 bars including current bar
• If current bar is an outside bar or inside bar previous 3 should have lower highs
• Oversold StochasticFull (settings: OB = 75, OS =25, K period = 12, D period = 1, slow period = 3, average = simple)

Sorry one other item: same as on outside bar for inside bar, except obviously will not make lower low/higher high

Just reverse for short trades.

 

[godfreym]

Does anyone use a reversal scan they have felt like has yielded good results? Im struggling to implement this strategy. Appreciate any responses or feedback.

 

[XeoNoX]

I am pretty new here. I wanted to see if there is a way to program an indicator and scan for the following price action.

For Long trades:

• Previous bar close < open
• Current bar open > close
• current bar low < previous bar
• Lower highs for last 3 bars including current bar
• If current bar is an outside bar or inside bar previous 3 should have lower highs
• Oversold StochasticFull (settings: OB = 75, OS =25, K period = 12, D period = 1, slow period = 3, average = simple)

Sorry one other item: same as on outside bar for inside bar, except obviously will not make lower low/higher high

Just reverse for short trades.

this can all be done with the built in TOS wizard, use the offset and displace to go X bars within or X bars ago.