OPEN-SOURCE SCRIPT
Sunil Spinning Top Indicator
The spinning top is single candlestick pattern can be used as a reversal pattern.
Long Entry ->
If formed near the support go long on the next candle crossing over the high of the spinning top candle.
Stop Loss = Low of the Spinning Top Candle
If formed near the Resistance go short on the next candle crossing under the low of the spinning top candle.
Stop Loss = High of the Spinning Top Candle
Back test and give your feedback.
Long Entry ->
If formed near the support go long on the next candle crossing over the high of the spinning top candle.
Stop Loss = Low of the Spinning Top Candle
If formed near the Resistance go short on the next candle crossing under the low of the spinning top candle.
Stop Loss = High of the Spinning Top Candle
Back test and give your feedback.
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.