Free TradingView Indicator by AlgoAlpha — Momentum & Oscillators
Introducing Trend Reversal Probability by AlgoAlpha – a powerful indicator that estimates the likelihood of trend reversals based on an advanced custom oscillator and duration-based statistics. Designed for traders who want to stay ahead of potential market shifts, this indicator provides actionable insights into trend momentum and reversal probabilities.
Combines a dual SMA strategy with a proprietary RSI-like calculation to detect market direction and strength.
Plots average signal durations and their statistical deviations (±1, ±2, ±3 SD) on the chart for clear visual guidance.
Choose your preferred colors for upward and downward trends, ensuring a personalized chart view.
Tracks and displays signal durations with columns representing key percentages (80%, 60%, 40%, and 20%).
Set alerts for significant reversal probabilities (above 84% and 98% or below 14%) to capture key trading moments.
Add the Indicator: Add Trend Reversal Probability to your favorites by clicking the star icon.
Market Analysis: Use the plotted probability levels (average duration and ±SD bands) to identify overextended trends and potential reversals. Use the color of the duration counter to identify the current trend.
Leverage Alerts: Enable alerts to stay informed of high or extreme reversal probabilities without constant chart monitoring.
Explore other momentum & oscillators TradingView indicators by AlgoAlpha.
Free on TradingView
Trend Reversal Probability is free to use on TradingView. Add it to any chart in seconds.