OPEN-SOURCE SCRIPT
Updated Flipmeister | Candle Flips / Reversals
Opinionated way to highlight important candle flips and can lead to trading opportunities.
- Green to Red flip needs to break previous candle's high and flip to qualify
- Red to Green flip needs to break previous candle's low and flip to qualify
You can configure:
- Min Wick Size for marker to be shown
- Max lookback in bars to limit the amount of markers on the chart
Alerts! You can setup alert conditions for any flip and it's going to notify you when it happens.
Create alert -> Condition: Flipmeister -> Function: Any Flip (or any other available condition).
- Green to Red flip needs to break previous candle's high and flip to qualify
- Red to Green flip needs to break previous candle's low and flip to qualify
You can configure:
- Min Wick Size for marker to be shown
- Max lookback in bars to limit the amount of markers on the chart
Alerts! You can setup alert conditions for any flip and it's going to notify you when it happens.
Create alert -> Condition: Flipmeister -> Function: Any Flip (or any other available condition).
Release Notes
Use Debug Info in order to figure out the size of the wick you want for your instrument.Release Notes
Added: when candle broke the high of the previous candle and flipped - only green candle was considered in this case. I added a case when it's a red candle as well, since sometimes that becomes a good move. Same for green candles in reverse. Added: marker size settings
Release Notes
This indicator identifies key price action reversal signals through candle pattern analysis. The indicator detects two patterns:1. Green-to-Red Flips: When a green candle breaks above the previous candle's high and flips bearish, creating a significant upper wick. These often signal bearish reversals as buyers initially pushed prices up but lost control.
2. Red-to-Green Flips: When a red candle breaks below the previous candle's low, creating a significant lower wick. These often signal bullish reversals as sellers initially pushed prices down but lost control.
The indicator filters signals by wick length (measured in ticks) to focus on meaningful reversals.
Use the wick length as a measure of reversal strength, with longer wicks typically indicating stronger reversals. The customizable settings allow you to adjust minimum wick length, lookback period, marker size, and highlighting preferences to match your trading style.
The indicator includes multiple alert options for both real-time signals and confirmed signals after bar close, making it suitable for both active trading and strategic position entry planning.
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.