MiladHamid

TMA Reversal Channel by Milad Hamid v.1

TMA Reversal Channel

The goal of the system: is to find the sell and buy zones —trading forex based on price reversal from the price bands triangular moving averages (TMA) with SR zones, momentum, trend line , and price patterns.

TMA system makes it easier to find the price reversal zones. So the main goal is to spot the buy and sell zones. Reversal can be
✓ A simple retracement - for example, 20- 50 pips
✓ Corrections!
✓ Or change of the major trend direction.

This system will be mainly for scalping so gaining 15-30 pips from this reversal is perfect. But also trading on higher timeframes will give stronger signals and you can aim for higher take profits.

Type of strategy: reversal trend, price action
Strategy: Scalping, day trading, swing trading.
Time Frame: 5 min or higher. (mainly M15 and H1)
Currency pairs: any

General Rules of BUY/SELL trades

Buy:
Price bands penetration - the down bands (best wait until it hit the / last band)
Confirmations:
  • we wait for a small green BUY Signal box to show up on the chart under the candle.
    The price reversed from the support line.
    The RSI is oversold 30 (the system has a built-in RSI filter so no need to add yours)
    • Reversal pattern such as a double bottom or engulfing (you can enable them)


Sell:
Price bands penetration - the top bands (best wait until it hit the / last band)
Confirmations:
  • we wait for a small green RED Signal box to show up on the chart above the candle.
    The price reversed from the resistance line.
    The RSI is oversold 70 (the system has a built-in RSI filter so no need to add yours)
    • Reversal pattern such as a double top or bearish engulfing (you can enable them in the indicator settings)

Important note:
During the major news with spikes, the Price can easily break down/up the bands and continue in one direction so we need to check the higher timeframes and watch the major trend direction also we can use the trend lines as support and resistance breakout. Please check the major resistance/support zones which can be the potential reversal zone to give the signal or we wait until the price reverse from the outside into the band/channel and then shows the BUY/SELL signal.
Notes de version: - Range Filter has been added to the new indicator.

The purpose of the Range Filter tool is to filter out with-trend signals during ranging/non-trending conditions.
Script open-source

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