Role reversal pattern

[iSul]

is there any code for TOS to show the stocks making ( Role reversal ) and give a signal in point 3 ( throwback ).

 

[BenTen]

No, too subjective.

 

[halcyonguy]

i am taking a stab at this. no guarantees and no timeline

i'm creating a set of rules first, to describe the situation, then later try to write the code.
i know for this example, it is a big step from idea to code. i just want to show that if you list out a project in multiple steps, then tackle the tasks one at a time, it might be possible.

events
price bounces up to a resistance level and falls, twice.
then rises and crosses the level
after price peaks, it falls to the level ( and hopefully bounces up)

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rules summary - reverse order , new to old bars

define a price range, to be a support/resistance (SR) area.
look back in time for events near the range (peaks, valleys, and crossing)
the SR level is the mid point of the range
each event is x bars or more from the prev event
each peak or valley is $y or more away from the level

1 assume close is near top of sr range (ideally, moving up away from level)
2 a prev peak is more than $y above level
3 crossed up above sr level
4 a valley is more than $y below level
5 peak 2 within sr range
6 a valley is more than $y below level
7 peak 1 within sr level

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ref stocks for testing
AMD , 2 hour , 4/30 10:30am