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Rounding Bottom & Top Detector [JPT]
🔷 OVERVIEW
The Rounding Bottom & Top Detector [JPT] is a technical analysis indicator designed to identify potential rounded reversal patterns in the market. It highlights bowl-shaped and inverted bowl-shaped formations, helping traders recognize possible trend changes.
🔷 HOW IT WORKS
1. Rounding Bottom: Identifies a potential bullish reversal structure and highlights the resistance level. A breakout above resistance may indicate upward momentum.
2. Rounding Top: Identifies a potential bearish reversal structure and highlights the support level. A breakdown below support may indicate downward momentum.
3. Curved Formation: Draws curved lines to visualize the potential rounding structure.
4. Breakout Signals: Displays bullish and bearish markers when the configured price conditions are met.
5. Alerts: Supports TradingView alerts for potential bullish breakouts and bearish breakdowns.
🔷 HOW TO USE
• Add the indicator to your TradingView chart.
• Adjust the Pattern Lookback setting to control the detection window.
• Enable or disable curved formations, support and resistance levels, and breakout signals.
• Watch for a confirmed candle close above resistance or below support.
• Combine the signals with market structure, volume, and higher-timeframe analysis for additional confirmation.
🔷 IMPORTANT NOTE
This indicator identifies potential rounding formations using predefined conditions. Not every formation leads to a successful reversal, and signals may vary across markets and timeframes. Always use proper risk management and additional confirmation before making trading decisions.
The Rounding Bottom & Top Detector [JPT] is a technical analysis indicator designed to identify potential rounded reversal patterns in the market. It highlights bowl-shaped and inverted bowl-shaped formations, helping traders recognize possible trend changes.
🔷 HOW IT WORKS
1. Rounding Bottom: Identifies a potential bullish reversal structure and highlights the resistance level. A breakout above resistance may indicate upward momentum.
2. Rounding Top: Identifies a potential bearish reversal structure and highlights the support level. A breakdown below support may indicate downward momentum.
3. Curved Formation: Draws curved lines to visualize the potential rounding structure.
4. Breakout Signals: Displays bullish and bearish markers when the configured price conditions are met.
5. Alerts: Supports TradingView alerts for potential bullish breakouts and bearish breakdowns.
🔷 HOW TO USE
• Add the indicator to your TradingView chart.
• Adjust the Pattern Lookback setting to control the detection window.
• Enable or disable curved formations, support and resistance levels, and breakout signals.
• Watch for a confirmed candle close above resistance or below support.
• Combine the signals with market structure, volume, and higher-timeframe analysis for additional confirmation.
🔷 IMPORTANT NOTE
This indicator identifies potential rounding formations using predefined conditions. Not every formation leads to a successful reversal, and signals may vary across markets and timeframes. Always use proper risk management and additional confirmation before making trading decisions.
Nota Keluaran
Updated color
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🥇 Free Daily Forex, Gold & BTC Trade Signals
📚 Daily Trading Lessons & Technical Analysis
Learn, improve, and follow the market with us — completely FREE.
📲 Join Now: t.me/JosProTrader_050
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
📈 FREE TELEGRAM CHANNEL
🥇 Free Daily Forex, Gold & BTC Trade Signals
📚 Daily Trading Lessons & Technical Analysis
Learn, improve, and follow the market with us — completely FREE.
📲 Join Now: t.me/JosProTrader_050
🥇 Free Daily Forex, Gold & BTC Trade Signals
📚 Daily Trading Lessons & Technical Analysis
Learn, improve, and follow the market with us — completely FREE.
📲 Join Now: t.me/JosProTrader_050
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.