Multi-Indicator Reversal Signals with Optional Risk and Session Filters

Summary

This open-source strategy combines RSI, MACD, Williams %R, volume, and Bollinger Bands to seek reversal trades. Its inputs also allow the trader to set overbought and oversold levels, require a minimum number of aligned indicators, and optionally demand divergence, a volume spike, or a reversal candle. The script includes a New York session filter and options for percentage-based stop loss and take profit, pyramiding, and flipping all signals.

The available excerpt ends during indicator calculations, before the entry and exit rules appear. It therefore does not show exactly how the indicators are combined into trades or how divergence and reversal candles are identified. No performance results or backtest evidence are included. Treat the described features as configurable components of a strategy script, not evidence that the strategy is profitable; the excerpt alone is insufficient to assess its signal logic or risk behavior.

Key ideas

• The script calculates RSI, MACD, Williams %R, volume, and Bollinger Bands as potential reversal inputs.
• Users can configure how many indicators must align and whether extra confirmations are required.
• Optional controls include a New York session filter, stop loss, take profit, and pyramiding.
• The available excerpt does not include the signal-generation rules or performance evidence.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.