Reverse Signal

The indicator marks the estimated market reversals in the form of arrows.

The indicator is able to detect 3 types of reversals.

1. The primary reversal signal. It is a stronger and more important reversal. Denoted by the largest arrow.
2. Alternative signal - additional signal without additional filters in contrast to the primary. Suitable for scalping on small timeframes.
3. A mixture of the primary and alternate reversals, but with the addition of the trend filter. Also shows good results on small timeframes.

The concept is in the maximum deviation of the price from the fast moving averages.

If the price is above the MA and is distant enough, then such signal is considered a sell signal.

A buy signal is opposite.

All options are activated separately.

The indicator also features an alert when an arrow appears.

The indicator is not redrawn!!!

Input Parameters

• ShowStrongSignal - show the primary signal.
• ShowAltSignal - show the alternative signal.
• UseFilter - use the filter.
• FontColorSymbol - symbol color.
• FontColorPrice - price color.
• FontColorSpread - spread color.
• FontColorTime - time color.
• Usealert - use the alert.
• ShowInfo - show info.
• FontSize - font size.
• FontFace - font type.
• Corner - info display corner.