Indicator Notifying the Occurrence of Key Reversal Days (Titan_Key_Reversal)
Indicator Overview
What is a Key Reversal Day?
A Key Reversal Day is a candlestick pattern that occurs at high or low price levels and often signifies a trend reversal.
At high price levels, it occurs when a candlestick exceeds the previous high but then closes below the previous low. This suggests that despite reaching new highs, selling pressure took over, indicating a potential peak in prices.
Conversely, at low price levels, it involves a candlestick breaking below the previous low but then rebounding to close above the previous high. This pattern suggests a bottom might have been reached, prompting buying or closing of short positions, increasing the expectation of a bounce.
Although primarily analyzed on daily charts, this pattern can signify trend reversals on shorter timeframes as well.
【Example of a Key Reversal Day】
Displaying Key Reversal Days with Arrows
This indicator displays arrows on the chart when a Key Reversal Day occurs. A green arrow appears if the candlestick drops below the previous low then closes above the previous high, suggesting a potential upward trend reversal. Conversely, a red arrow is shown if the candlestick rises above the previous high then closes below the previous low, suggesting a potential downward trend reversal.
Additionally, the indicator can filter potential trend reversals based on the continuity of bearish or bullish candles immediately preceding the key reversal.
【Example of Indicator Display】
※ This indicator only functions on TitanFX's Windows versions of MT5 and MT4.
Indicator Terms of Use
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1.The indicators and related descriptions are based on various data believed to be reliable, but their accuracy and completeness are not guaranteed.
2.The data displayed by the indicators do not guarantee your investment results. Also, the displayed content may vary due to market conditions and communication environments.
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4.Specifications of the indicators are subject to change without notice. Changes will be announced on the indicator description pages, etc.
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Settings for the Indicator
Inputs (MT5) and Parameter Inputs (MT4)
| Variable Name | Description | Default |
|---|---|---|
| Filter by trend | Select true to filter based on consecutive bearish or bullish candles preceding the key reversal. | False |
| Trend detection period | If filtering is enabled, sets the number of consecutive candles required. | 3 |
| Arrow size | Specifies the size of the displayed arrows. | 1 |
| Alert | Choose true to enable alerts when key reversals occur. | true |
Colors (MT5) and Color Settings (MT4)
This indicator does not use this tab.