Trend Reversal Indicator:
Read through this thread for answers to everything that you ever wanted to know about the Trend Reversal Indicator
https://usethinkscript.com/threads/trend-reversal-indicator-with-signals-for-thinkorswim.183/
PLEASE NOTE: THIS INDICATOR REPAINTS
Repainters use to be the FASTEST way to find and be alerted to tops and bottoms which make them the preferred indicators for shorter timeframes.
BUT
The Trend Reversal uses the function: HighestAll which ToS broke in the last update and has no plans on fixing. This function no longer calculates in real time, which will cause scripts that use it to lag to the point of being un-usable.
Also, because repainters are such prolific liars, these studies should ONLY be used to make entry by traders proficient in using them in correlation with price action, candlestick patterns, a disciplined stop-loss plan, and the fortitude to weather the losses that come with the false signals.
Read more:
https://usethinkscript.com/threads/answers-to-commonly-asked-questions.6006/#post-57833
Continue reading for answers to your most pressing questions.
Read through this thread for answers to everything that you ever wanted to know about the Trend Reversal Indicator
https://usethinkscript.com/threads/trend-reversal-indicator-with-signals-for-thinkorswim.183/
PLEASE NOTE: THIS INDICATOR REPAINTS
Repainters use to be the FASTEST way to find and be alerted to tops and bottoms which make them the preferred indicators for shorter timeframes.
BUT
The Trend Reversal uses the function: HighestAll which ToS broke in the last update and has no plans on fixing. This function no longer calculates in real time, which will cause scripts that use it to lag to the point of being un-usable.
Also, because repainters are such prolific liars, these studies should ONLY be used to make entry by traders proficient in using them in correlation with price action, candlestick patterns, a disciplined stop-loss plan, and the fortitude to weather the losses that come with the false signals.
Read more:
https://usethinkscript.com/threads/answers-to-commonly-asked-questions.6006/#post-57833
Continue reading for answers to your most pressing questions.
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