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Whisker Reversal Oscillator [SpiritualHealer117]
The Whisker Reversal Oscillator can be used to spot strength or weakness in trends. It is designed for stocks, commodities and forex trading, and is intended to be calculated from the high, close, low, and open over a given length.
Features:
The Whisker Reversal Oscillator shows the average length of the top and bottom whiskers on candlesticks over a defined length. It plots the percentage difference between the whiskers and the length of the body, with the yellow line representing the average length of the top whisker, and the bottom line indicating the average length of the bottom whisker.
Interpreting the signals:
The Whisker Reversal Oscillator is interpreted in the same way as a candlestick reversal pattern, where it being bullish or bearish depends on the trend. In a bull trend, if the yellow line passes above the blue line, it means the top whiskers are longer on average than the bottom whiskers, which may show that bulls were too weak to hold a rally, and signal a reversal. On the other hand, in a bear trend, if the yellow line is above the blue line, it indicates that the bulls were able to push the price up, which would be bullish. If the blue line crosses over the yellow line in an uptrend, it's often a bearish sign, but if it happens in a downtrend, its a bullish sign.
Generally speaking, a cross in the lines is indicative of a potential reversal, and when the lines cross over 1, it means that the whiskers were bigger than the candlestick bodies over your selected length, indicating that a big swing will come.
Features:
The Whisker Reversal Oscillator shows the average length of the top and bottom whiskers on candlesticks over a defined length. It plots the percentage difference between the whiskers and the length of the body, with the yellow line representing the average length of the top whisker, and the bottom line indicating the average length of the bottom whisker.
Interpreting the signals:
The Whisker Reversal Oscillator is interpreted in the same way as a candlestick reversal pattern, where it being bullish or bearish depends on the trend. In a bull trend, if the yellow line passes above the blue line, it means the top whiskers are longer on average than the bottom whiskers, which may show that bulls were too weak to hold a rally, and signal a reversal. On the other hand, in a bear trend, if the yellow line is above the blue line, it indicates that the bulls were able to push the price up, which would be bullish. If the blue line crosses over the yellow line in an uptrend, it's often a bearish sign, but if it happens in a downtrend, its a bullish sign.
Generally speaking, a cross in the lines is indicative of a potential reversal, and when the lines cross over 1, it means that the whiskers were bigger than the candlestick bodies over your selected length, indicating that a big swing will come.
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Skrip sumber terbuka
Dalam semangat sebenar TradingView, pencipta skrip ini telah menjadikannya sumber terbuka supaya pedagang dapat menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupun anda boleh menggunakannya secara percuma, ingat bahawa menerbitkan semula kod ini adalah tertakluk kepada Peraturan Dalaman kami.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.