Reversal Seeker

Overview:

• Purpose: The Reversal Seeker is designed to identify potential trend reversals using a combination of Bollinger Bands and RSI.
• Functionality:
  • Bullish Reversals: A bullish reversal is detected when the price moves from below the lower Bollinger Band back inside, combined with an RSI crossover above the oversold threshold.
  • Bearish Reversals: A bearish reversal is detected when the price moves from above the upper Bollinger Band back inside, combined with an RSI crossunder below the overbought threshold.

Key Parameters:

• Mild Reversals: Option to enable or disable the detection of mild reversal signals.
• Reversal Seeker: Toggle the main Reversal Seeker on or off.
• Reversal Sensitivity (1 - 300): Adjust the sensitivity of the Reversal Seeker by setting the length for Bollinger Bands calculation. The higher the sensitivity, the less frequent but more significant the signals.

Usage:

• Entry and Exit Points: Use the detected reversal signals to time market entries and exits. These signals can be used to identify shifts in market momentum.
• Risk Management: Pair the Reversal Seeker with other indicators to further validate reversal signals and manage risk in your trading strategy.