Reversal Bar Indicator
The reversal bar indicator is a tool for identifying potential trend reversals by signaling when the current bar breaks above the high or below the low of the previous bar, indicating bullish or bearish momentum, respectively. However, it's important to interpret these signals in the context of the overall market trend; for instance, a red reversal signal may be viewed as a buying opportunity in a prevailing bullish trend, suggesting that traders should exercise discretion and consider broader market dynamics before acting on the indicator's signals.