OPEN-SOURCE SCRIPT
Updated Smart Reversal Signal (Stoch + RSI + EQH/EQL) - TF + Lookback
📌 Smart Reversal Signal (Stoch + RSI + EQH/EQL)
This custom TradingView indicator identifies potential trend reversal signals using a combination of Stochastic Oscillator, Relative Strength Index (RSI), and Equal Highs/Lows (EQH/EQL) based on a higher timeframe.
✅ Key Features:
Stochastic %K and %D Cross
Detects bullish reversal when %K crosses above %D in oversold zone (< 20)
Detects bearish reversal when %K crosses below %D in overbought zone (> 80)
RSI Signal Confirmation
Bullish when RSI crosses above the oversold level (e.g., 30)
Bearish when RSI crosses below the overbought level (e.g., 70)
Equal High / Low Zones (EQH/EQL)
Confirms price is reversing near previous unbroken highs/lows (within % tolerance)
Uses customizable higher timeframe (e.g., 1H) and user-defined lookback period
Buy Signal:
RSI crosses up from oversold
Stochastic %K crosses above %D
Price near an Equal Low (EQL)
Sell Signal:
RSI crosses down from overbought
Stochastic %K crosses below %D
Price near an Equal High (EQH)
Visual Aids:
Background highlights (green for Buy, red for Sell)
RSI and Stochastic plots with overbought/oversold levels
Alert conditions for Buy and Sell triggers
⚙️ Customizable Inputs:
Stochastic and RSI lengths
Overbought/Oversold levels
Tolerance for EQH/EQL zones (%)
Timeframe for EQH/EQL detection
Lookback bars to define EQ zones
📈 Use Case:
This indicator helps traders detect high-probability reversal zones by aligning:
Momentum shifts (via RSI & Stochastic)
Price structure zones (EQH/EQL)
Ideal for swing trading, mean reversion strategies, or trend reversal confirmations.
This custom TradingView indicator identifies potential trend reversal signals using a combination of Stochastic Oscillator, Relative Strength Index (RSI), and Equal Highs/Lows (EQH/EQL) based on a higher timeframe.
✅ Key Features:
Stochastic %K and %D Cross
Detects bullish reversal when %K crosses above %D in oversold zone (< 20)
Detects bearish reversal when %K crosses below %D in overbought zone (> 80)
RSI Signal Confirmation
Bullish when RSI crosses above the oversold level (e.g., 30)
Bearish when RSI crosses below the overbought level (e.g., 70)
Equal High / Low Zones (EQH/EQL)
Confirms price is reversing near previous unbroken highs/lows (within % tolerance)
Uses customizable higher timeframe (e.g., 1H) and user-defined lookback period
Buy Signal:
RSI crosses up from oversold
Stochastic %K crosses above %D
Price near an Equal Low (EQL)
Sell Signal:
RSI crosses down from overbought
Stochastic %K crosses below %D
Price near an Equal High (EQH)
Visual Aids:
Background highlights (green for Buy, red for Sell)
RSI and Stochastic plots with overbought/oversold levels
Alert conditions for Buy and Sell triggers
⚙️ Customizable Inputs:
Stochastic and RSI lengths
Overbought/Oversold levels
Tolerance for EQH/EQL zones (%)
Timeframe for EQH/EQL detection
Lookback bars to define EQ zones
📈 Use Case:
This indicator helps traders detect high-probability reversal zones by aligning:
Momentum shifts (via RSI & Stochastic)
Price structure zones (EQH/EQL)
Ideal for swing trading, mean reversion strategies, or trend reversal confirmations.
Release Notes
Pine Script code that fully integrates the following:RSI + Stochastic cross signals
EQH/EQL from a higher timeframe
Candlestick reversal patterns:
Hammer / Hanging Man
Shooting Star
Morning Star / Evening Star
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.