OPEN-SOURCE SCRIPT
Extreme Reversal Channel [JOAT]
Extreme Reversal Channel [JOAT]
Introduction
Extreme Reversal Channel is an open-source adaptive channel that tracks persistent upper and lower extremes, gradually resets stale levels, and marks confirmed reversal conditions when price rejects a fresh extreme through the channel midpoint.
The problem it solves is stale channel context. Fixed lookback channels can jump abruptly as old bars roll out. Extreme Reversal Channel uses persistent state and controlled interpolation, creating smoother structural boundaries while still adapting to current price.
Core Concepts
1. Persistent Extreme Tracking
The upper channel updates when a new high exceeds the current upper core. The lower channel updates when a new low breaks the current lower core.
2. Counter-Based Reset
If no new extreme appears after the selected reset length, the stale level interpolates toward current price using the reset alpha setting.
Pine Script®
3. Midpoint Reversal Confirmation
A bullish reversal requires a fresh lower extreme and a confirmed close back above the midpoint. A bearish reversal requires a fresh upper extreme and a confirmed close back below the midpoint.
4. Channel vs Trail Mode
Channel mode shows the upper, lower, and midpoint. Trail mode shows a single adaptive trailing reference derived from the current trend state.
Features
Input Parameters
Channel:
How to Use This Indicator
Step 1: Use the channel boundaries as adaptive structural extremes.
Step 2: Watch for midpoint rejections after fresh extremes.
Step 3: Use trail mode when you want a simpler directional reference.
Step 4: Read price position and channel width in the dashboard before interpreting a reversal.
Indicator Limitations
Originality Statement
Extreme Reversal Channel is original in its combination of persistent extreme tracking, reset interpolation, midpoint rejection logic, optional trail mode, and compact dashboard output. It does not copy third-party source code.
Disclaimer
This open-source indicator is provided for educational and informational purposes only. It is not financial advice. Market conditions can invalidate reversal context, and risk management remains essential.
-Made with passion by jackofalltrades
Introduction
Extreme Reversal Channel is an open-source adaptive channel that tracks persistent upper and lower extremes, gradually resets stale levels, and marks confirmed reversal conditions when price rejects a fresh extreme through the channel midpoint.
The problem it solves is stale channel context. Fixed lookback channels can jump abruptly as old bars roll out. Extreme Reversal Channel uses persistent state and controlled interpolation, creating smoother structural boundaries while still adapting to current price.
Core Concepts
1. Persistent Extreme Tracking
The upper channel updates when a new high exceeds the current upper core. The lower channel updates when a new low breaks the current lower core.
2. Counter-Based Reset
If no new extreme appears after the selected reset length, the stale level interpolates toward current price using the reset alpha setting.
3. Midpoint Reversal Confirmation
A bullish reversal requires a fresh lower extreme and a confirmed close back above the midpoint. A bearish reversal requires a fresh upper extreme and a confirmed close back below the midpoint.
4. Channel vs Trail Mode
Channel mode shows the upper, lower, and midpoint. Trail mode shows a single adaptive trailing reference derived from the current trend state.
Features
- Adaptive upper/lower extremes: Persistent channel boundaries that update with new highs/lows
- Reset interpolation: Stale levels drift toward current price instead of disappearing abruptly
- Midpoint reversal logic: Reversal labels require closed-bar confirmation
- Gradient channel fills: Upper and lower channel regions are lightly shaded
- Optional trail mode: Converts the channel into a single adaptive stop reference
- Top-right dashboard: Trend, mode, width, price position, reset age, and signal state
- Alerts: Confirmed bullish and bearish reversal events
Input Parameters
Channel:
- Reset Length: Bars allowed before an untouched extreme resets
- Reset Alpha: Interpolation speed toward current price
- Body Filter: Minimum candle body quality for reversal labels
- Trailing Mode: Switches from full channel to trail display
How to Use This Indicator
Step 1: Use the channel boundaries as adaptive structural extremes.
Step 2: Watch for midpoint rejections after fresh extremes.
Step 3: Use trail mode when you want a simpler directional reference.
Step 4: Read price position and channel width in the dashboard before interpreting a reversal.
Indicator Limitations
- Reversal labels can be early in strong breakout conditions
- Very narrow channels require caution because small moves can cross the midpoint easily
- The channel is adaptive context, not a complete trade system
- Signals are confirmed on closed bars and do not use future references
Originality Statement
Extreme Reversal Channel is original in its combination of persistent extreme tracking, reset interpolation, midpoint rejection logic, optional trail mode, and compact dashboard output. It does not copy third-party source code.
Disclaimer
This open-source indicator is provided for educational and informational purposes only. It is not financial advice. Market conditions can invalidate reversal context, and risk management remains essential.
-Made with passion by jackofalltrades
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.
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jackofalltrades.vip 🌐
t.me/jackofalltradesvip 🃏
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.
The AI Trading Ecosystem, Built to win trades 📈
Get Full Access 👇
jackofalltrades.vip 🌐
t.me/jackofalltradesvip 🃏
Get Full Access 👇
jackofalltrades.vip 🌐
t.me/jackofalltradesvip 🃏
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.