Reversal Magictrend

5 sept. 2022

This indicator combine multiple indicator in one pine script : Main indicator is Exponential Moving Average (EMA), Commodity Channel Index (CCI), Average True Range (ATR), Crossover Signal & Alert.

1)
For Exponential Moving Average (EMA) have 5 type :
EMA 7 : Green Color (Transparent)
EMA 21 : Red Color (Transparent)
EMA 34 : Orange Color (Faint)
EMA 50 : Purple Color (Transparent)
EMA 90 : Aqua Color (Faint)

Trendband / Background Color in between EMA line :
EMA 7 Cross up EMA 21 : Green
EMA 7 Cross down EMA 21 : Red
EMA 21 Cross up EMA : Yellow

Crossover Signal :
EMA 7 Cross up EMA 21 = Golden Cross : Blue Diamond
EMA 7 Cross down EMA 21 = Death Cross : Red Diamond

Example :


2)
Commodity Channel Index (CCI) :
Have background color : Green for positive value

CCI Signal = Anchor / Hook
- As a signal of reversal. Strong reversal when appear on weekly chart

Example :
Weekly :


Daily :


I am inspired from : tradingview.com/u/SHARIZ80/

Check out his indicator here :
my.tradingview.com/v/lfgg2IC2/

3)
Average True Range (ATR) as Supertrend
Green (Start) New Start for uptrend
Red (End) New Start for downtrend

Also Add on value for each signal.

Example :


I am inspired from : tradingview.com/u/KivancOzbilgic/

Check out his Supertrend here :

4)
For this indicator, user have option to turn on / off :
- Previous Signal as a backtest
- Previous Trend as a backtest
- ATR to make chart more clean.

9 sept. 2022

Notes de version

Updated (9/9/2022)

1) Make input more clean at setting
2) Add on change candle bar color base on Dollar Normalised Volume (DNV) on chart. Lime color if price up with volume.
3) Delete highlight on chart to make chart more clear.
4) Add on trendbar color (green/red) base on ATR. I get inspire by StrategicalCharts : tradingview.com/u/StrategicalCharts/.

Check his indicator here :