OPEN-SOURCE SCRIPT
Denial [MMT]
Denial [MMT] is a reversal signal indicator designed to help traders identify Morning Star and Evening Star patterns when price attempts to continue in one direction, fails, and turns back the other way.
How to use this indicator
Use Denial [MMT] to scan for potential reversal points after an impulsive move. The indicator looks for a 3-candle structure: a strong first candle, a small-bodied star candle, and a confirmation candle that closes back into the first candle’s range, signaling a possible shift in direction.
For higher-quality setups, keep the structural sweep filter enabled. This helps isolate patterns where the star candle first pushes beyond the prior candle’s extreme before rejecting, which often produces cleaner reversals and removes weaker inside-range formations.
If you want fewer but cleaner signals, keep the stricter filters on and require the pattern to form at equal highs or equal lows. If you want broader signal coverage, enable the option to signal all valid star patterns and disable the session filter to allow setups across all trading hours.
The optional stop loss display can be used as a simple invalidation reference. When enabled, it plots the stop level at the high of a sell signal bar or the low of a buy signal bar, making it easier to frame risk directly from the setup.
This indicator works best as a confirmation tool, not as a standalone reason to enter a trade. It is most useful when combined with key levels, market structure, session context, liquidity sweeps, or your existing framework.
How to use this indicator
Use Denial [MMT] to scan for potential reversal points after an impulsive move. The indicator looks for a 3-candle structure: a strong first candle, a small-bodied star candle, and a confirmation candle that closes back into the first candle’s range, signaling a possible shift in direction.
For higher-quality setups, keep the structural sweep filter enabled. This helps isolate patterns where the star candle first pushes beyond the prior candle’s extreme before rejecting, which often produces cleaner reversals and removes weaker inside-range formations.
If you want fewer but cleaner signals, keep the stricter filters on and require the pattern to form at equal highs or equal lows. If you want broader signal coverage, enable the option to signal all valid star patterns and disable the session filter to allow setups across all trading hours.
The optional stop loss display can be used as a simple invalidation reference. When enabled, it plots the stop level at the high of a sell signal bar or the low of a buy signal bar, making it easier to frame risk directly from the setup.
This indicator works best as a confirmation tool, not as a standalone reason to enter a trade. It is most useful when combined with key levels, market structure, session context, liquidity sweeps, or your existing framework.
Skrip open-source
Dengan semangat TradingView yang sesungguhnya, pembuat skrip ini telah menjadikannya sebagai sumber terbuka, sehingga para trader dapat meninjau dan memverifikasi fungsinya. Salut untuk penulisnya! Meskipun Anda dapat menggunakannya secara gratis, perlu diingat bahwa penerbitan ulang kode ini tunduk pada Tata Tertib kami.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Skrip open-source
Dengan semangat TradingView yang sesungguhnya, pembuat skrip ini telah menjadikannya sebagai sumber terbuka, sehingga para trader dapat meninjau dan memverifikasi fungsinya. Salut untuk penulisnya! Meskipun Anda dapat menggunakannya secara gratis, perlu diingat bahwa penerbitan ulang kode ini tunduk pada Tata Tertib kami.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.