Reversal TradingView Indicator
A custom TradingView indicator that identifies high-probability reversal candles using range, wick, and multi-bar comparison logic, with a separate EMA distance pane for market context.
A custom reversal indicator with real-time signal detection, historical confirmation, and a contextual EMA distance pane
The Brief
The client had a clear reversal setup they were identifying manually and needed it packaged into a TradingView indicator that matched their exact visual style and logic, with signals appearing in real time as the daily candle forms and locking in on close.
What We Built
The indicator identifies reversal candles based on three conditions: the candle’s range exceeds 1.4 times the average range of the previous 14 bars, the upper or lower wick is greater than 50% of the full candle size, and the wick is larger than any wick in the prior 14 bars. When all conditions are met, a buy or sell arrow appears on the chart as the candle is forming and remains confirmed at bar close.
A separate EMA distance pane plots price percentage deviation from the 21-day EMA with static threshold bands at plus and minus 10%, giving the trader a quick read on how extended price is relative to its mean.
The indicator is published as an invite-only script on TradingView so the client can access it directly from their indicators tab.
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