Reversal

Reversal Informer

• If it would be just a classic candlestick pattern, it would generate much more false signals.
• The most important filter is the candle itself. The strengths of the candle is adjustable!
• All important ratios of the candle are adjustable, the wicks will be ignored.
• The ratio calculation for the candle is based on the ATR-value (default is 20 and adjustable).
• The confirmation candle needs at least a value of X% of ATR20-value (ATR20-value from current timeframe)

If you like to set a trend filter (MA, Kijun-sen), choose the value and the direction => with or against the trend => signals in both directions are possible.

When the confirmation candle reaches its value, it will not disappear (no repaint).

Advantages

• based on classic candle pattern
• no repaint
• test mode
• use a second indicator and set test_mode true, it will move the arrows and change the colors, which is perfect to compare different settings
• no crossover signal
• signal after close ± X pips
• inverse trend option
• reversal candle is adjustable
• switch confirmation candle on, off
• all Timeframes
• all instruments
• 3 different moving averages and Kijun-sen as trend filter

alerts

• 2 alert sessions (from - to)
• alert
• arrows
• send email
• screenshot
• push notification

Inputs

• Bars to process - the number of bars of the chart you want to be analyzed (60 to 1000 is recommended).
• alert - activates the pop-up alerts.
• Email - if true, it shows the selected info in header.
• Notification - if true, it sends the alert to the metaTrader 4 APP of your smartphone.
• Screenshot - if true, it sends the alert with a screenshot to ...metaTrader 4MQL4Files.
• show Arrows - if true, it shows the chosen arrows only.
• show History Arrows / only "Live-Setting" - if true, there is no history arrow, only the first upcoming arrow of the trend direction will appear and stay, as long as the timeframe and instrument will not be changed.
• Kijun-sen Filter - if true, the Kijun-sen from Ichimoku gets involved as a trend filter.
• Trend MA, MA II, MA III - signals will come in trend direction of the MAs only, an opportunity to filter Reversal Patterns from corrections.
• inverse Trend - shows the signal against the trend as a real Reverse Signal, only if a Trend MA is set up. (Signal with the trend are often much better.)
• Trend - predefined trend values (8, 13, 36 SMA).
• Trade-Session A / B - define time slots for signals.
• Candle-Properties in relation to ATR - define the signal candle in ratios to the ATR in %.
• plus ATR-Value in % to fill the signal - to get the signal, the price needs to run a certain value after the reversal pattern.
• Arrow Style - choose a arrow style = thin, cross, normal, hollow, Thumbs, Triangle.
• Arrow Position - default is 0.6. Nice to have if you compare settings with a second/third indicator.
• send short Comment - add personal comments to your signals in alert, Notification, Email.
• Email Header - change the email header for your personal needs.
• Picture height - default is 720, if Screenshot=true.
• Picture width - default is 1280, if Screenshot=true.
• Picture short Comment - if you like to give your filename an additional information.
• use /confirm/iation-candle - without the confirmation candle, it is not a reversal pattern anymore. (The original Pattern requires the confirmation candle.)
• Test Mode - compare settings and use a second Reversal Indicator in the same chart and activate "Test Mode".

important rules

• Look for an instrument with an obvious upcoming movement in a clear direction on a higher timeframe.
• Entry right after a signal
• Exit example: major Fibonacci and dynamic support/resistance lines. Use the same to move your stop and for taking first profits.
• If the trade still runs, ignore further arrows.
• SL example: below/above the second higher/lower candle.

Recommendations

• I only go for a clear trend on the higher timeframe
• I stay out before high-impact news hit the market
• Always on my mind, major Support and Resistance
• No trade without money management, please calculate your risk, trade smart
• There is no guarantee of success as in any trading business / in my examples above

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