A reversal island is a very rare and powerful trend reversal structure made up of several Japanese candlesticks.
An initial gap opens in the current trend, followed by one or more candlesticks before a second gap appears, opposite to the first, forming the reversal island.
The first and second gaps remain open, with no contact even with the candlestick wicks.
The Reversal Island screener scans the market for stocks with two opposing gaps forming the reversal island.
The last 100 candlesticks are scanned.
Results are sorted according to the bullish or bearish signal:
A general filtering on the daily timeframe is done on the stock price, as well as the exchange's volume. This filtering guarantees the stocks appearing in results are in your liquidity criteria.
Use our Gaps Indicator to see the gaps!
Parameters can be adjusted to adjust the detection of the Reversal Islands that meet your criteria. These settings are available without modifying the code, in a very simple way in the "variables" menu of the screener.
Use our Gaps Indicator to see the gaps!
Adjustable validation criteria :
Available filters :
General filter :
Video user guide (english subtitles available) :
Details of available settings :
Disclaimer
Our proposed tools (indicators and screeners) are not investment advices but tools allowing everyone to find specific graphic configurations.
Investing in the financial markets involves risks up to and including the total loss of capital.
The user of the proposed tools understands and accepts that the use of these tools is under his sole and entire responsibility. P2C Trading declines all responsibility in the use of the tools and the consequences that would result.
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