%R Trend Exhaustion [upslidedown] TradingView

Currency Pairs: Any

Timeframes:  Any

Minimum Deposit: Any

Recommended Account Type: ECN or Raw Spread

Leverage: From 1:30 to 1:1000

Recommend broker: Roboforex
Recommend Vps: GoVPSFX
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The %R Trend Exhaustion indicator by upslidedown on TradingView is a technical analysis tool designed to identify potential trend reversals or exhaustion points in the market, particularly for crypto trading. It combines two Williams %R periods: a standard period and a longer 112-period %R, which has shown interesting results in backtesting for trend-following strategies in cryptocurrencies.

Key Features:
– Dual %R Periods: The indicator uses a standard Williams %R alongside a longer 112-period %R to filter out market noise and highlight significant trend exhaustion or reversal points.
– Confluence Zones: It marks “areas of interest” with filled boxes when the short and long %R periods align in overbought or oversold conditions, indicating potential exhaustion.
– Signal Arrows: An arrow appears on the chart when the overbought or oversold trend breaks, signaling a possible reversal or exhaustion point.
– Purpose: It aims to detect tops, bottoms, or confirm trend reversals, making it useful for traders looking to capitalize on trend changes.
How It Works:
– The indicator identifies when both %R periods are in overbought (typically above -20) or oversold (below -80) zones simultaneously.
– A break in these conditions (e.g., moving out of overbought/oversold) triggers an arrow, suggesting the trend may be exhausting or reversing.
– This setup is particularly tailored for crypto markets, where the longer 112-period %R helps smooth out volatility.
Usage:
– Trend Reversal Confirmation: Traders can use the arrows to confirm potential reversals after a prolonged trend.
– Entry/Exit Points: The indicator can help identify strategic points to enter or exit trades, especially when combined with other signals like price action or support/resistance levels.
– Customization: As an open-source script, traders can review and modify the code to suit their strategies.