OPEN-SOURCE SCRIPT
Unicorn Setup Detector (aziz abid)
Look for the formation of a higher high followed by a lower low. Bearish unicorn model begins with the market forming a higher high. Subsequently, the market makes a lower low by breaking the previous bullish structure. It signals an early shift in direction.
Second most important thing is to look for bearish breaker block and bearish fair value gap. The overlap between the breaker block and FVG creates a zone of confluence. This is known as bearish unicorn zone. There is a possibility that price is likely to react when retraces to the area.
Final step is to look for retest and confirmation. Price retraces to the overlapped area and confirm its validity as resistance. The successful retest of the area strengthens the bearish unicorn setup. The model offers high-probabilities trade entries.
for abetter entries try to use the entries during london or new york killzones
Second most important thing is to look for bearish breaker block and bearish fair value gap. The overlap between the breaker block and FVG creates a zone of confluence. This is known as bearish unicorn zone. There is a possibility that price is likely to react when retraces to the area.
Final step is to look for retest and confirmation. Price retraces to the overlapped area and confirm its validity as resistance. The successful retest of the area strengthens the bearish unicorn setup. The model offers high-probabilities trade entries.
for abetter entries try to use the entries during london or new york killzones
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.