mrD-Flip Zone(None repaint) [1.0]This indicator provides Flips Zones, to easily observe price action and the user can evaluate reversal zones.
This indicator also includes warnings when flip zones appear.
🔶 SETTINGS
- Current-Timeframe: Hide/Show Flips Zones in the current time frame.
- High-Timeframe: Hide/Show Flips Zones in the High time frame.
- Current Timeframe (color): Color Display Flips Zones in the current time frame.
- High Timeframe (color): Color Display Flips Zones in the current time frame.
🔶 The logic is described below:
The main characteristic that this indicator has is that it is possible to identify zones where prices can react.
The second feature that shows the best use of this indicator is that it shows the flips area of the larger timeframe in the current timeframe.
This indicator also acts as support and resistance levels.
This script is based on the function of Pivot High Low.
- New Pivot Low is identify
- New Pivot High is to identify
- New Pivot Low lower previous Pivot Low
- Upper Line of the Flips Zone is the high-price previous Pivot Low
- Lower Line of the Flips Zone is the low-price new Pivot Low
=>Flips box will be marked on the chart in the current time frame and the Flips box in the high time frame
*Special feature: the Flips box order shows different time frames.
🔶 USAGE
The Flips Zones are displayed by the script to provide can price reversal zones.
At Flips Zones, prices can reverse or continue the trend.
The Flips Zones are displayed by the script to provide price can reversal zones.
Once the Flips Zone is formed, the price action could retest. Can expect a price reversal or continue the trend.
The Flip Zones of the higher timeframe are displayed in the current timeframe according to the user's settings.
If the Flip Zones on the current timeframe and the Flip Zones on the higher timeframe overlap, Price can retest and reverse the trend quickly.
The trend can be determined by looking at the price position relative to the flips zone box. Price breaking out of flip zones is a sign of a downtrend, while price breaking above supply is a sign of an uptrend.
Note: This indicator is Non-repaint.
This indicator is great to use in confluence with other indicators or with various candlestick patterns.
Remember, don't make decisions based only on the one-time frame. Check the overall trend of the stock and look at Flip Zone in the high time frame.
🔶General disclaimer:
Trading stocks, futures, forex, options, ETFs, cryptocurrency, or any other financial instrument has huge potential rewards and risks.
You must be aware of the risks and willing to accept them to invest in stocks, futures, forex, options, ETFs, or cryptocurrencies.
Don't trade with money you can't afford to lose.
This is not an offer or an offer to Buy/Sell stocks, futures, Forex, options, ETFs, cryptocurrencies, or any other financial instrument.
Do not represent that any account will or is likely to achieve profit or loss of any kind.
The past performance of any trading system or method is not necessarily indicative of future results.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
