Price Reversal (ShowMe)Analysis Techniques & Strategies
Price Reversal (ShowMe)| Name | Expression | Default | Description |
| NumDays | Numeric | 3 | Number of days in the price extension (defined as a sharp, multiple-day move). |
| MinConsolIndex | Numeric | 2.25 | This input should be in the 1-to-NumDays range; the larger the number, the more extended the price. |
| FinalRangeFactor | Numeric | 1 | This factor is applied to the final range and helps ensure that the final day's move is good- sized. Use 1 for Gap & Reverse (same day) or .75 for Falter & Reverse (2-day). |
| RevCriteria | Numeric | 1 | Reversal criteria. Enter 1 or 2. |
| GapsizeFactor | Numeric | .2 | This factor is used to ensure that the gap is large, greater than the previous day's true range times the GapSizeFactor (only used when RevCriteria = 1). |
| HiLineColor | Numeric | Magenta | Plot color for the true highest value. |
| LoLineColor | Numeric | LightGray | Plot color for the true lowest value. |
This ShowMe looks for down (up) reversals after up (down) price extensions. (A price extension is a strong, multiple day move.) More specifically, it looks for a down (up) setup and trigger on the day after an up (down) price extension has been completed. Only the first trigger of the day is recognized.
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