Role reversal pattern


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

Last edited:

Join useThinkScript to post your question to a community of 21,000+ developers and traders.

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.

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)


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


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

Similar threads

Not the exact question you're looking for?

Start a new thread and receive assistance from our community.

87k+ Posts
392 Online
Create Post

Similar threads

Similar threads

The Market Trading Game Changer

Join 2,500+ subscribers inside the useThinkScript VIP Membership Club
  • Exclusive indicators
  • Proven strategies & setups
  • Private Discord community
  • ‘Buy The Dip’ signal alerts
  • Exclusive members-only content
  • Add-ons and resources
  • 1 full year of unlimited support

Frequently Asked Questions

What is useThinkScript?

useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. Traders of all skill levels use our forums to learn about scripting and indicators, help each other, and discover new ways to gain an edge in the markets.

How do I get started?

We get it. Our forum can be intimidating, if not overwhelming. With thousands of topics, tens of thousands of posts, our community has created an incredibly deep knowledge base for stock traders. No one can ever exhaust every resource provided on our site.

If you are new, or just looking for guidance, here are some helpful links to get you started.

What are the benefits of VIP Membership?
VIP members get exclusive access to these proven and tested premium indicators: Buy the Dip, Advanced Market Moves 2.0, Take Profit, and Volatility Trading Range. In addition, VIP members get access to over 50 VIP-only custom indicators, add-ons, and strategies, private VIP-only forums, private Discord channel to discuss trades and strategies in real-time, customer support, trade alerts, and much more. Learn all about VIP membership here.
How can I access the premium indicators?
To access the premium indicators, which are plug and play ready, sign up for VIP membership here.