The following code is an implementation is similar to reversal strategy specified here:
and another well know break out strategy.
This was achieved by combining some of the ideas from two other indicators:
There are two types of + Strategies included in this indicator:
- Fractal Reversal : In an uptrend defined by Low that is above the teeth and the mouth is completed open in an uptrend. The opposite for downtrends. (Green and Red Arrows)
- Fractal BreakOut : In an uptrend, at the start of open we look back for the first High above Teeth. teeth must be above mouth. (Aqua and Fuchsia arrows)
- Added new signal Type Awesome Oscillator Break Out.
- Awesome BreakOut : In an uptrend, at the start of Alligator open we look back for the first Bar close above Alligator, Alligator Lips above Teeth and Jaw, Awesome Oscillator just started changing to lime. The opposite for downtrends. (Teal and Orange arrows)
... New signal Type in action
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.