Q – Reversals is s discretionary trading strategy for NT8 that finds very High probability reversal set-ups.
Even though it wont find every reversal point in every market move it will find those with the greatest probability of a profitable move in the opposite direction.
- As the market gets overbought / oversold the indicator start looking for potential turning points and plot these as resistance or support levels .
- The indicator also plots a trailing support / resistance level that will act as a trigger level for a trend change.
- When there is a confirmed trend reversal an arrow is plotted Up/ Down.
- The indicator forecasts potential resistance / support levels along the direction of the new trend. This will give us a good indication of where to exit the trade.
- We could stagger our exits or wait for a trend change or base the exit on our own skills.
- a Trailing support level level is plotted below the the market which provides us with a reasonable and effective stoploss level.
- The strategy is fully optimisable. It has 5 parameters to model the strategy to the instrument under study.
- All plots are fully customizable.
- You can easily integrate this indicator in to an automated strategy.
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