OPEN-SOURCE SCRIPT
已更新 Reversal Indicator
What does this indicator do?
This indicator is designed to help traders spot potential reversal points in the market by combining multiple conditions:
When all these conditions align, the indicator plots a triangle under/above the candle to highlight a possible reversal.
Why is this useful?
Many traders struggle with false RSI signals or candle patterns that fail because they don’t respect the larger trend.
This indicator filters out weak setups by requiring alignment between:
A lower timeframe RSI oversold/overbought condition,
A higher timeframe trend filter (SMA),
And a strong candle reversal pattern.
This multi-layer approach helps avoid chasing every RSI dip and focuses only on high-probability reversal zones.
How does it work?
Bullish reversal signal → appears when RSI on the lower TF is oversold, price is still above the higher TF SMA (trend still intact), AND a bullish engulfing candle forms.
Bearish reversal signal → appears when RSI on the lower TF is overbought, price is below the higher TF SMA, AND a bearish engulfing candle forms.
When all conditions match, the indicator plots a triangle under the candle for bullish signals and above the candle for bearish signals.
How to use it?
Choose your timeframes:
NOTICE: THE RSI TIMEFRAME SHOULD BE GREATER THEN THE TIMEFRAME FOR THE SMA
Otherwise it will not generate that much signals.
Watch for signals ONLY in the direction of the higher trend.
Use the signals as potential reversal points, not as guaranteed entries. Combine with your own confluence.
Optionally set alerts for bullish or bearish reversal conditions so you never miss a setup.
Customization
✅ Choose your RSI length & overbought/oversold levels.
✅ Select which timeframes you want for SMA & RSI.
✅ Toggle the higher TF SMA display on/off.
✅ Adjust signal appearance (triangles).
Important Notes
⚠️ This is not a standalone trading system. It’s a tool to help spot possible reversal areas. Always confirm with price action, support/resistance, or your own strategy
This indicator is designed to help traders spot potential reversal points in the market by combining multiple conditions:
- ✅ Multi-Timeframe RSI – Checks RSI on a lower timeframe (like 5m) to see if the market is oversold or overbought.
- ✅ Higher Timeframe SMA Filter – Uses a higher timeframe SMA (like 1h) as a trend filter, so signals only trigger in the direction of the bigger trend.
- ✅ Candle Pattern Confirmation – Looks for bullish or bearish engulfing candles to confirm price exhaustion before signaling a reversal.
When all these conditions align, the indicator plots a triangle under/above the candle to highlight a possible reversal.
Why is this useful?
Many traders struggle with false RSI signals or candle patterns that fail because they don’t respect the larger trend.
This indicator filters out weak setups by requiring alignment between:
A lower timeframe RSI oversold/overbought condition,
A higher timeframe trend filter (SMA),
And a strong candle reversal pattern.
This multi-layer approach helps avoid chasing every RSI dip and focuses only on high-probability reversal zones.
How does it work?
Bullish reversal signal → appears when RSI on the lower TF is oversold, price is still above the higher TF SMA (trend still intact), AND a bullish engulfing candle forms.
Bearish reversal signal → appears when RSI on the lower TF is overbought, price is below the higher TF SMA, AND a bearish engulfing candle forms.
When all conditions match, the indicator plots a triangle under the candle for bullish signals and above the candle for bearish signals.
How to use it?
Choose your timeframes:
- A timeframe for trend filtering (e.g. 1h).
- A timeframe for RSI (e.g. 4h).
NOTICE: THE RSI TIMEFRAME SHOULD BE GREATER THEN THE TIMEFRAME FOR THE SMA
Otherwise it will not generate that much signals.
Watch for signals ONLY in the direction of the higher trend.
Use the signals as potential reversal points, not as guaranteed entries. Combine with your own confluence.
Optionally set alerts for bullish or bearish reversal conditions so you never miss a setup.
Customization
✅ Choose your RSI length & overbought/oversold levels.
✅ Select which timeframes you want for SMA & RSI.
✅ Toggle the higher TF SMA display on/off.
✅ Adjust signal appearance (triangles).
Important Notes
⚠️ This is not a standalone trading system. It’s a tool to help spot possible reversal areas. Always confirm with price action, support/resistance, or your own strategy
版本注释
Hey guys, after testing the indictor on hundreds of different CRYPTO-ALTCOIN-charts, I found it to be working the best on the 1h chart with the following settings: - Higher Timeframe SMA length = 4
- Timeframe for SMA = 5 minutes
- RSI Length = 14
- Timeframe for RSI = 4 hours
- Overbought/Oversold RSI Levels = 75/25
Check for yourself on the Charts, would love to get some feedback :)
版本注释
Hey guys, I made some changes regarding the defval inputs for the Indicator. I also added "BUY" and "SELL" text for the shapes :)版本注释
Quick Bug fix 版本注释
*Sorry Bug fix again, made the code simpler版本注释
i changed SMA to EMA for better visuals版本注释
cleaner visualisation 开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。
开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。