OPEN-SOURCE SCRIPT
Reversal Probability Profile [AlgoAlpha]
🟠 OVERVIEW
Reversal Probability Profile [AlgoAlpha] maps where confirmed price reversals have historically concentrated. Instead of treating every support or resistance level equally, it builds a price-based profile from confirmed pivot highs and lows and shows which areas have produced the greatest concentration of reversals.
The profile combines pivot-based support and resistance, reversal density, price clustering, and a maximum reversal zone. This gives traders a structured view of where price has repeatedly changed direction and how the density at one level compares with the strongest reversal area in the current calculation range.
Active support and resistance levels also display a normalized Reversal Probability. This value represents the reversal density at that level relative to the highest-density profile bin. It is a relative density measure, not a statistical forecast of the probability that price will reverse.
🟠 CONCEPTS
🟠 FEATURES
🟠 HOW TO USE
🟠 CONCLUSION
Reversal Probability Profile [AlgoAlpha] combines confirmed pivots, support and resistance, reversal-density profiling, and price clustering in one chart view. It gives traders a relative measure of where reversals have historically concentrated and a way to compare current price levels against the strongest reversal zone.
Reversal Probability Profile [AlgoAlpha] maps where confirmed price reversals have historically concentrated. Instead of treating every support or resistance level equally, it builds a price-based profile from confirmed pivot highs and lows and shows which areas have produced the greatest concentration of reversals.
The profile combines pivot-based support and resistance, reversal density, price clustering, and a maximum reversal zone. This gives traders a structured view of where price has repeatedly changed direction and how the density at one level compares with the strongest reversal area in the current calculation range.
Active support and resistance levels also display a normalized Reversal Probability. This value represents the reversal density at that level relative to the highest-density profile bin. It is a relative density measure, not a statistical forecast of the probability that price will reverse.
🟠 CONCEPTS
- Pivot High — A confirmed local high where price is higher than the surrounding bars defined by the Pivot Left Bars and Pivot Right Bars settings. These pivots represent historical bearish reversal points.
- Pivot Low — A confirmed local low using the same left and right confirmation structure. These pivots represent historical bullish reversal points.
- Reversal Probability Profile — A price profile built from confirmed pivot highs and lows. Each pivot contributes to its corresponding price bin and nearby bins according to the Bin Smoothing Radius.
- Reversal Probability — The density of a price bin divided by the density of the tallest profile bin. The tallest bin is therefore 100%, while other levels are expressed relative to it. This measures relative historical reversal density rather than a statistical probability of a future reversal.
- Max Reversal Zone — The price bin containing the highest smoothed pivot count. It forms the profile's point of maximum reversal density.
- Pivot Clusters — Groups of historical pivot prices with similar price locations. The script groups these prices into clusters and uses separate colors to make recurring reversal regions easier to distinguish.
- Support and Resistance Levels — Horizontal levels created from confirmed pivot lows and highs. Nearby levels can be filtered using an ATR-based overlap distance so that similar pivots do not produce excessive duplicate levels.
🟠 FEATURES
- Reversal Probability Profile — Displays historical reversal density across the visible calculation range, with wider bins representing greater density relative to the maximum reversal zone.
- Probability-Labeled Support and Resistance — Displays active pivot levels together with their price and normalized Reversal Probability, while broken levels can remain as faint historical references.
- Max Reversal Zone — Highlights the profile bin with the greatest concentration of confirmed reversals and marks its corresponding price level.
- Cluster Visualization — Color-codes pivot regions and can display cluster levels and historical pivot markers to show where reversal prices have grouped.
- Reversal Alerts — Provides alerts for new support and resistance pivots, level breaks, maximum or high-density zone touches, and bullish or bearish reversal-zone touches.
🟠 HOW TO USE
- Start with the profile — Look for the widest sections. These show price regions where confirmed reversals have concentrated more heavily than surrounding areas.
- Use the Max Reversal Zone as a reference — It represents the strongest reversal-density bin in the current calculation window and provides the 100% reference used by the other probability values.
- Compare active levels by Reversal Probability — A level closer to 100% sits in a region with reversal density closer to the profile maximum. Treat this as relative historical density rather than a forecast of future reversal odds.
- Distinguish support from resistance — Green support levels originate from pivot lows, while red resistance levels originate from pivot highs. Watch how price behaves when it returns to these areas.
- Read clusters as broader areas of interest — Repeated pivots near similar prices form clusters. These can help identify reversal regions that are supported by several historical turning points instead of one isolated pivot.
- Use broken levels for context — When enabled, previously broken support and resistance remain visible as faint dotted references. This helps separate active levels from historical structure.
- Adjust Pivot Left Bars and Pivot Right Bars to control sensitivity — Lower values identify smaller local turns. Higher values require broader price structure before a pivot is confirmed.
- Adjust the Calculation Lookback and Pivot Memory to control how much historical reversal structure contributes to the current profile.
- Use the profile together with current price action — A high-density zone identifies where reversals occurred historically. It does not by itself confirm that price will reverse on the next test.
🟠 CONCLUSION
Reversal Probability Profile [AlgoAlpha] combines confirmed pivots, support and resistance, reversal-density profiling, and price clustering in one chart view. It gives traders a relative measure of where reversals have historically concentrated and a way to compare current price levels against the strongest reversal zone.
Скрипт с открытым кодом
В истинном духе TradingView, создатель этого скрипта сделал его открытым исходным кодом, чтобы трейдеры могли проверить и убедиться в его функциональности. Браво автору! Вы можете использовать его бесплатно, но помните, что перепубликация кода подчиняется нашим Правилам поведения.
🚨Get premium: algoalpha.io
🛜Get FREE signals: discord.gg/xCmqTVRexz
💡Tutorials: youtube.com/@AlgoAlpha
🛜Get FREE signals: discord.gg/xCmqTVRexz
💡Tutorials: youtube.com/@AlgoAlpha
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.
Скрипт с открытым кодом
В истинном духе TradingView, создатель этого скрипта сделал его открытым исходным кодом, чтобы трейдеры могли проверить и убедиться в его функциональности. Браво автору! Вы можете использовать его бесплатно, но помните, что перепубликация кода подчиняется нашим Правилам поведения.
🚨Get premium: algoalpha.io
🛜Get FREE signals: discord.gg/xCmqTVRexz
💡Tutorials: youtube.com/@AlgoAlpha
🛜Get FREE signals: discord.gg/xCmqTVRexz
💡Tutorials: youtube.com/@AlgoAlpha
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.