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Reversal Trend Identifier (Reversal Colors)
Hello TradingView Community!
This is an indicator designed to help traders identify potential trend reversals and visualize the current market trend through intuitive bar coloring.
The Bar Coloring Logic
The main feature of this indicator is its unique bar coloring system, which helps you instantly see the market state:
🟥 Red Bar: Signals a new bullish reversal. This appears on the exact bar that the price crosses above the Bull Trend Line, indicating a fresh potential uptrend.
🟦 Dark Blue Bar: Signals a bullish trend continuation. These bars appear after a red bar, showing that the price remains in a bullish state.
🟨 Yellow Bar: Signals a new bearish reversal. This appears on the exact bar that the price crosses below the Bear Trend Line, indicating a fresh potential downtrend.
📉 Light Blue Bar: Signals a bearish trend continuation. These bars appear after a yellow bar, showing that the price remains in a bearish state.
How to Use It
Look for Red or Yellow bars as potential entry signals for a new trend.
Use the Dark Blue or Light Blue bars to confirm that the trend is still active.
You can also enable the "Bull Trend Line" and "Bear Trend Line" in the settings to use them as dynamic support or resistance levels.
Settings
Barcolor: (Default On) Easily toggle the bar coloring on or off.
Show Trend Lines : (Default Off) The lines are hidden by default to keep your chart clean. You can check this box to make them visible.
This script was converted from a strategy to a standalone indicator for cleaner chart analysis. As with any tool, it works best when combined with other forms of analysis and your own trading strategy.
Hope you find it useful!
Disclaimer: This is not financial advice. Please test any indicator or strategy thoroughly before trading.
This is an indicator designed to help traders identify potential trend reversals and visualize the current market trend through intuitive bar coloring.
The Bar Coloring Logic
The main feature of this indicator is its unique bar coloring system, which helps you instantly see the market state:
🟥 Red Bar: Signals a new bullish reversal. This appears on the exact bar that the price crosses above the Bull Trend Line, indicating a fresh potential uptrend.
🟦 Dark Blue Bar: Signals a bullish trend continuation. These bars appear after a red bar, showing that the price remains in a bullish state.
🟨 Yellow Bar: Signals a new bearish reversal. This appears on the exact bar that the price crosses below the Bear Trend Line, indicating a fresh potential downtrend.
📉 Light Blue Bar: Signals a bearish trend continuation. These bars appear after a yellow bar, showing that the price remains in a bearish state.
How to Use It
Look for Red or Yellow bars as potential entry signals for a new trend.
Use the Dark Blue or Light Blue bars to confirm that the trend is still active.
You can also enable the "Bull Trend Line" and "Bear Trend Line" in the settings to use them as dynamic support or resistance levels.
Settings
Barcolor: (Default On) Easily toggle the bar coloring on or off.
Show Trend Lines : (Default Off) The lines are hidden by default to keep your chart clean. You can check this box to make them visible.
This script was converted from a strategy to a standalone indicator for cleaner chart analysis. As with any tool, it works best when combined with other forms of analysis and your own trading strategy.
Hope you find it useful!
Disclaimer: This is not financial advice. Please test any indicator or strategy thoroughly before trading.
Skrip dilindungi
Skrip ini diterbitkan sebagai sumber tertutup. Akan tetapi, anda boleh menggunakannya secara bebas dan tanpa apa-apa had – ketahui lebih di sini.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Skrip dilindungi
Skrip ini diterbitkan sebagai sumber tertutup. Akan tetapi, anda boleh menggunakannya secara bebas dan tanpa apa-apa had – ketahui lebih di sini.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.