XAUUSD Reversal Indicator

//version=5
indicator("XAUUSD Reversal Indicator", overlay=true)

// Moving Averages
ma50 = ta.sma(close, 50)
ma100 = ta.sma(close, 100)
ma200 = ta.sma(close, 200)

// Support & Resistance (based on recent highs and lows)
lengthSR = 20
support = ta.lowest(low, lengthSR)
resistance = ta.highest(high, lengthSR)

// Volume-based Confirmation
volThreshold = ta.sma(volume, 20)
highVolume = volume > volThreshold

// Reversal Conditions
bullishReversal = ta.crossover(close, support) and close > ma50 and close > ma100 and close > ma200 and highVolume
bearishReversal = ta.crossunder(close, resistance) and close < ma50 and close < ma100 and close < ma200 and highVolume

// Highlight Reversal Zones
bgcolor(bullishReversal ? color.green : bearishReversal ? color.red : na, transp=80)

// Plot Support & Resistance Levels
p1 = plot(support, title="Support", color=color.blue, linewidth=2, style=plot.style_dotted)
p2 = plot(resistance, title="Resistance", color=color.orange, linewidth=2, style=plot.style_dotted)

// Alerts
alertcondition(bullishReversal, title="Bullish Reversal Alert", message="Bullish Reversal Detected on XAUUSD")
alertcondition(bearishReversal, title="Bearish Reversal Alert", message="Bearish Reversal Detected on XAUUSD")

// Labels for Reversals
label_offset = 20
if bullishReversal
label.new(bar_index, low - label_offset, "Bullish", color=color.green, textcolor=color.white, size=size.small, style=label.style_label_up)

if bearishReversal
label.new(bar_index, high + label_offset, "Bearish", color=color.red, textcolor=color.white, size=size.small, style=label.style_label_down)