Top & Bottom Search🧩 ~ Experimental🔧

kelmarin

📌 Top & Bottom Search🧩 ~ Experimental🔧
This script is designed to identify potential market reversal zones using a combination of classic candlestick patterns (Piercing Line & Dark Cloud Cover) and trend confirmation tools like EMA positioning and optional RSI filters.

🔍 Core Features:
✅ Detects Piercing Line and Dark Cloud Cover patterns.

✅ Optional EMA filter to confirm bullish or bearish alignment.

✅ Optional RSI filter to confirm oversold or overbought conditions.

✅ Visual plot of the selected EMA (customizable thickness & color).

✅ Clean and toggleable inputs for user flexibility.

⚙️ Customizable Settings:
Enable/disable EMA confirmation.

Enable/disable RSI confirmation.

Choose whether to display the EMA on the chart.

Adjust EMA period, RSI thresholds, and candle visuals.

🧪 Note:
This is an experimental tool, best used as a supplement to your existing analysis. Not every signal is a guaranteed reversal—this script aims to highlight potential turning points that deserve closer attention.

I HIGHLY recommend using this in coherence with many other indicators in a robust system of indicators that meet your desired time frames and signal periods.

NOTES*
1.) An alternative way to view this indicator is as a "Piercing & Dark Cloud Candle Indicator/Strategy w/ EMA & RSI Logic - Either EMA or RSI Logics are Optional."

2.) When toggling between the RSI and EMA Filters, the default is set to EMA filter applied, however you cannot have both RSI signals and EMA filters on the chart at the same time, it can only be one or the other. So be aware that if you have EMA filter ON and select RSI filter, it will only be displaying the RSI filtered outputs. The ONLY WAY to see the EMA filtered outputs is to only have the EMA filter box checked and NOT the RIS filter box.

kelmarin

Nota Keluaran

• Changed the RSI Length to 7 to receive accurate signals and even more for that matter.
  

kelmarin

Nota Keluaran

• Clarity Update: The display image above for the indicator is with only the RSI filter setting on. EMA filter is an option as well that I recommend considering when conducting trades/analysis.