N Bar Reversal Detector Indicator for MT5 Download – Free – [TradingFinder]

The N Bar Reversal Detector Indicator is developed to identify market turning points or pivot points. This tool analyzes price behavior within a range of candles (defined by the user), is capable of detecting potential trend reversals, and provides buy or sell trading signals accordingly.

Specifications Table of the N Bar Reversal Display Indicator

The specifications of the N Bar Reversal Detector indicator are shown in the table below.

N Bar Reversal Detector at a Glance

The N Bar Reversal Detector uses colored boxes to highlight potential price reversal areas on the chart, then uses directional arrows to display entry or exit signals.

Additionally, a horizontal line is drawn next to each box to represent the validity duration of the issued signal.

Buy Signal

According to the 1-hour chart of the cryptocurrency Ripple (XRP), the pivot point area is highlighted with a green box, indicating a potential trend reversal.

Simultaneously, the indicator displays a green upward arrow, issuing a buy signal and alerting the trader.

Sell Signal

Based on the 15-minute chart of the currency pair Euro to Canadian Dollar (EUR/CAD), the reversal zone or pivot point is highlighted with a red box, indicating a potential downward trend reversal.

As shown in the image, the red arrow appears at the signal location and is considered a suitable entry point for a sell trade.

N Bar Reversal Detector Settings

The settings of the N Bar Reversal Display Indicator are as follows:

• REVERSAL_PERIOD: Number of candles for identifying the reversal pattern
• ALERT: Enable alert
• EMAIL: Enable email alert
• NOTIFICATION: Send notification
• SIGNAL_TIMEOUT: Signal validity time limit
• BULLISH_COLOR: Set color for bullish reversal area
• BEARISH_COLOR: Set color for bearish reversal area
• HISTORY_LIMIT: Maximum number of past candles for signal analysis and display

Conclusion

The N Bar Reversal Detector is designed to detect reversal patterns and visually display potential trend change zones by analyzing a sequence of candles.

This indicator simplifies the entry and exit decision-making process by identifying price direction and reversal zones.

Moreover, the ability to adjust various parameters and utilize trend filters enhances the accuracy of signals, making the indicator compatible with diverse trading strategies.