EFS for reversal bars

[bkopp]

Hi,

I have been searching for an EFS study that would alert me to key reversal bars. Essentially I am looking for a formula that would alert me when the following conditions are met:

1. Bullish reversal - the current price bar takes out the low of the previous bar and then closes equal to or above the low of the previous bar

2. Bearish reversal - the current price bar takes out the high of the previous bar and closes equal to or below the high of the previous bar

I was hoping someone might be able to assist me with locating a formula if it already exists or assist me in creating one.

Thank you,

bkopp

[ACM]

bkopp
The attached efs will trigger an Alert List window when your Bullish or Bearish reversal conditions are met.
FWIW the efs was created using only the Formula Wizard.
Alex

[SRF]

bar reversal alert with bars noted

I would appreciate it if this formula could be revised to add either arrows or colors to the bars on the chart once the bar reversal happens. If the alert needs to be deleted to do this its okay and just the bars would be used.

Thanks

[ACM]

SRF
You can easily add the commands to draw the arrows using the Formula Wizard (see the enclosed screenshots for the required additions).
For instructions on how to use the Formula Wizard see the Formula Wizard Guide available in the EFS KnowledgeBase
Alex