Three-Bar Reversal Signal

2024년 10월 18일

This indicator is a simple setup of Three Bar Reversal. Logic of the code is as below.

Rules :
Long Setup
Bar 1 closes down
Low of Bar 2 is below the low of Bar 1 (and Bar 3)
Bar 3 closes above the high of both Bar 1 and Bar 2
Buy at the close of Bar 3

Short Setup
Bar 1 closes up
High of Bar 2 is above the high of Bar 1 (and Bar 3)
Bar 3 closes below the low of both Bar 1 and Bar 2
Sell at the close of Bar 3

2024년 10월 18일

릴리즈 노트

Updated title and username

2024년 10월 18일

릴리즈 노트

Updated the Script to generate indicator only when the bar is closed.

2024년 11월 8일

릴리즈 노트

Updating the current script by changing the detection method from high to close. Hence reducing unwanted signals.

2024년 11월 8일

릴리즈 노트

Updated visible marker on the chart to highlight 3-Bar setup for better recognition and decision making on 3 Bar reversal.