Created
July 20, 2025 10:02
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RSI 4-Candle Reversal
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| //@version=6 | |
| indicator("RSI 4-Candle Reversal", overlay=true) | |
| // Strategy Idea: Enter at close of signal candle, SL at previous high/low and TP at 1:2 RR | |
| // === INPUTS === | |
| rsiLength = input.int(14, title="RSI Length") | |
| rsiSource = input.source(close, title="RSI Source") | |
| highlightBullish = input.bool(true, title="Highlight Bullish Pattern") | |
| highlightBearish = input.bool(true, title="Highlight Bearish Pattern") | |
| // === RSI CALCULATION === | |
| rsi = ta.rsi(rsiSource, rsiLength) | |
| // === PATTERN LOGIC === | |
| rsi_1 = rsi[3] | |
| rsi_2 = rsi[2] | |
| rsi_3 = rsi[1] | |
| rsi_4 = rsi | |
| // Bullish Pattern Conditions | |
| bullishPattern = | |
| rsi_1 < 30 and | |
| rsi_2 > 40 and | |
| rsi_3 >= 30 and rsi_3 <= 40 and | |
| rsi_4 > rsi_2 + 1.5 | |
| // Bearish Pattern Conditions | |
| bearishPattern = | |
| rsi_1 > 70 and | |
| rsi_2 < 60 and | |
| rsi_3 >= 60 and rsi_3 <= 70 and | |
| rsi_4 < rsi_2 - 1.5 | |
| if bearishPattern | |
| log.info("bear") | |
| if bullishPattern | |
| log.info("bull") | |
| // === BACKGROUND COLOUR === | |
| bgcolor(highlightBullish and bullishPattern ? color.new(color.green, 85) : na) | |
| bgcolor(highlightBearish and bearishPattern ? color.new(color.red, 85) : na) |
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