N Bar Reversal Detection Indicator Free Download for MT5 | Forex Indicator Download - MetaTrader 5 Resources

The N-Bar Reversal Detection Indicator was developed to identify market turning points or pivot points . This tool analyzes price action within a series of candlesticks (defined by the user) and is able to detect potential trend reversals and provide buy or sell trading signals accordingly.

N-column reversal display indicator specification table

Specifications N Bar inversion detector specifications are shown in the table below.

N Bar Inversion Detector Overview

The N-Bar Reversal Detector uses colored boxes to highlight potential price reversal areas on the chart and then uses directional arrows to display entry or exit signals.

Additionally, a horizontal line is drawn next to each box to indicate the validity period of the signal emitted.

Buy Signal

According to the 1-hour chart of cryptocurrency Ripple (XRP), the pivot point area is highlighted with a green box, indicating a potential trend reversal.

At the same time, the indicator displays a green upward arrow, issuing a buy signal and alerting traders.

Sell ​​Signal

According to the 15-minute chart of the Euro/Canadian Dollar (EUR/CAD) currency pair, reversal areas or pivot points are highlighted with red boxes, indicating a potential downward trend reversal.

As shown in the image, the red arrow appears at the signal level, which is considered a suitable entry point for a sell trade.

N-column inversion detector setup

The settings of the N-bar reversal display indicator are as follows:

• REVERSAL_PERIOD: Number of candles used to identify reversal patterns
• ALERT: Enable alert
• EMAIL: Enable email alert
• NOTIFICATION: Send notification
• SIGNAL_TIMEOUT: Signal validity time limit
• BULLISH_COLOR: Set the color of bullish reversal areas
• BEARISH_COLOR: Set the color of bearish reversal areas
• HISTORY_LIMIT: Maximum number of past candles used for signal analysis and display

Conclusion

The N-Bar Reversal Detector is designed to detect reversal patterns and visually display areas of potential trend change by analyzing a series of candles.

This indicator simplifies the entry and exit decision-making process by identifying price direction and reversal areas.

Furthermore, the ability to adjust various parameters and utilize trend filters increases the accuracy of the signals, making the indicator compatible with various trading strategies .