The "MA Sabres" indicator highlights potential trend reversals based on a moving average direction. Detected reversals are accompanied by an extrapolated "Sabre" looking shape that can be used as support/resistance and as a source of breakouts.

🔶 USAGE

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If a selected moving average (MA) continues in the same direction for a certain time, a change in that direction could signify a potential reversal.

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In this publication, when a trend change occurs, a sabre-shaped figure is drawn which can be used as support/resistance:

A sabre can be indicative of a direction, however, it can also act as a stop-loss when the price should go in the opposite direction:

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Or show potential areas of interest:

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🔶 DETAILS

This publication will look for a change in direction after the MA went in the same direction during x consecutive bars (settings: "Reversal after x bars in the same direction").

Then a circle-shaped drawing will be drawn 1 bar back, at the previous high/low, dependable of the previous direction.

From there originates a sabre-shaped figure where the tip lies as far as the user-set MA length.

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The angle of the "sabre" relies on the ATR of the previous 14 bars.

Less volatility will create a flatter sabre while the opposite is true when there is more volatility in the previous 14 bars.

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The sabre is created by the latest feature, polylines, which enables us to connect several 'points', resulting in a polyline.new() object.

Do note that sabres are offset by one bar to the past to align their locations.

🔶 SETTINGS

  • MA Type: SMA, EMA, SMMA (RMA), HullMA, WMA, VWMA, DEMA, TEMA, NONE (off)
  • Length: this sets the length of MA, and the length of the sabre shape
  • Previous Trend Duration: After the MA direction is the same for x consecutive bars, the first time the direction changes, a sabre is drawn

forecastMoving Averagesreversalsabrestoploss

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