OPEN-SOURCE SCRIPT
4-Bar Fractal Reversal
Title: 4-Bar Fractal Reversal
Description:
The "4-Bar Fractal Reversal" is a clean and effective tool for identifying potential market reversals based on pure price action logic.
📈 How It Works:
This indicator scans for a 4-bar fractal pattern where the current candle (bar 0) acts as the confirmation bar. A reversal signal is generated when:
Bullish Reversal (Buy): The current close is higher than both the high of 1 bar back and the high of 3 bars back.
Bearish Reversal (Sell): The current close is lower than both the low of 1 bar back and the low of 3 bars back.
⚙️ Features:
Works on any timeframe.
Customizable display: choose to show or hide symbols and/or labels.
Includes alerts for both bullish and bearish setups.
This tool allows traders to react only after confirmation, reducing false signals and providing a more disciplined approach to reversal trading.
Indicator born following the viewing of the following video.
youtube.com/watch?v=Tp2FPwpkB50
Description:
The "4-Bar Fractal Reversal" is a clean and effective tool for identifying potential market reversals based on pure price action logic.
📈 How It Works:
This indicator scans for a 4-bar fractal pattern where the current candle (bar 0) acts as the confirmation bar. A reversal signal is generated when:
Bullish Reversal (Buy): The current close is higher than both the high of 1 bar back and the high of 3 bars back.
Bearish Reversal (Sell): The current close is lower than both the low of 1 bar back and the low of 3 bars back.
⚙️ Features:
Works on any timeframe.
Customizable display: choose to show or hide symbols and/or labels.
Includes alerts for both bullish and bearish setups.
This tool allows traders to react only after confirmation, reducing false signals and providing a more disciplined approach to reversal trading.
Indicator born following the viewing of the following video.
youtube.com/watch?v=Tp2FPwpkB50
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.