SMA7 Tail Reversal

3월 25일

📌 Description:
The SMA7 Tail Reversal indicator is designed to identify potential counter-trend trading opportunities by checking if candle wicks (tails) respect a key moving average level (SMA7).
This indicator highlights price action where candles are clearly separated from the moving average, suggesting a possible reversal or temporary correction.

📌 How It Works:

1. Moving Average Calculation:
   Calculates a simple moving average (SMA) of length 7 to act as the primary trend filter.
   
   
2. Candle Classification:
   
   Bullish Candle: A candle where the closing price is higher than the opening price, with a short upper wick.
   
   Bearish Candle: A candle where the closing price is lower than the opening price, with a short lower wick.
   
   
3. Conditions for Coloring Candles:
   Long Condition (Green Candle):
   
   High & Low are both below the SMA7 line.
   
   Volume is above the 20-period average.
   
   A bullish candle is detected.
   
   Short Condition (Red Candle):
   
   High & Low are both above the SMA7 line.
   
   Volume is above the 20-period average.
   
   A bearish candle is detected.
   

📌 Visual Representation:

Green Candles: Potential long signals when price action stays below the SMA7 line.
Red Candles: Potential short signals when price action stays above the SMA7 line.
Yellow Line: SMA7, used as the dynamic threshold for signal generation.

📌 Usage:

Best applied to volatile markets with clear trends.
Effective in detecting counter-trend opportunities where price diverges from the SMA7 line.
Works well with additional confirmation tools for better accuracy.

3월 25일

릴리즈 노트

// Softer candle color settings
var color longCol = #6EE7B7 // Light Green (Soft long signal)
var color shortCol = #FCA5A5 // Light Red (Soft short signal)

3월 25일

릴리즈 노트

without plot sma7

3월 26일

릴리즈 노트

sma 7

4월 5일

릴리즈 노트

plotbar(open, high, low, close, color=barCol)

4월 5일

릴리즈 노트

ALMA condition updated!

4월 5일

릴리즈 노트

color updated!

4월 5일

릴리즈 노트

rollbacked

4월 11일

릴리즈 노트

Zigzag mode updated

4월 16일

릴리즈 노트

no zigzag

4월 20일

릴리즈 노트

Zigzag styled dotted