Reversal Candle

 

This indicator will colour reversal candle

Reversal candle

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UniRenkoBars

FREE DOWNLOAD

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Works best with UniRenko style charts. But will colour candles on any chart that meets the following criteria:

(Bullish)
-Low is below the previous candles’ low
-Closes above the previous close
-Current and previous candles are opposite colors.

(Opposite for Bearish reversal)

Adjust the offset to customize how much lower a reversal has to go from the previous candle.

You can scalp a few ticks or points using this strategy alone. More about the candle reversal here

It is an excellent strategy to use when trading a Prop account PA with a trailing drawdown

 

 

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