This is a very specialised and optimized script, for 1m EURUSD traders - daytraders, scalpers.
1m trading is very difficult, but it can be also most profitable, if done right.
Why difficult? It is hard to detect market direction - usually when trend indicators reverse, that new trend is already over. One and the same indicator signal sometimes provides one outcome (for example reversal) and sometimes exactly the opposite (continuation). It requires deep understanding on WHEN to use which indicator and when to ignore signals. Set the parameters of your indicators to a very sensitive extent and they will keep changing direction back and forth - always being too late of course :) Set the parameters too losely, and you'll be late with entries 100% of times. Looking for universal trend-showing indicator? There is none...
This script is a result of 2 years of practical following EURUSD 1m market action. Looking at charts with MANUAL TRADER'S eyes. Analyzing all together: price action, indicators, zigzag, divergences, momentum, pivot points, support and resistance. On the one hand traders say only manual trading can be successful and on the other - to stick to one strategy and be automatic when applying to it. So this is it - automatic coding of market signals as if manual trader would do it. Forex is news-driven? Yes, it is. So if market sentiment changes because of some news happening, the script will quickly recognize it and suggest reversal.
Please note I'm not pretending to have a crystal ball. Nobody has. The goal of this script is not to predict where EURUSD market will be, but to correctly notice that is has reversed. Nothing else.
Sometimes the market will move towards reversal, but not cross the line yet - these are so-called HEDGING ZONES. Sometimes they turn out to be reversals and sometimes simply best places for dip entries. Ideally a trader should hedge there, because market could move either way. You might wanna apply apply knowledge of market fundamentals there or look into some micro-indicators. Anyway, it is good to realize where those zones are and this script shows them. In pink.