Lucky Reversal Indicator For MT4

What Is The Lucky Reversal Indicator The Lucky reversal indicator does what its name implies: it tells when the trend has turned from an uptrend to a downtrend, or from a downtrend to an uptrend. It gives its signals in the form of blue and red arrows, each followed by wavy horizontal lines. The blue arrow marks the beginning of an uptrend while the red arrow signifies a market reversal to the downtrend. The major flaw of the Lucky indicator The Lucky reversal indicator is unlike many trend reversal indicators out there. The reason is that it is a lagging indicator, so a trader can hardly trade reversal breakouts with it. Many traders have had their shares of frustration from trying to use the indicator to catch the beginning of reversals, and you can’t blame them for trying. If you backtest the indicator, you will find that the bullish and bearish signals are right at the lowest or topmost pivot points of major trend reversals. See an example in the image below. You’ll notice that price seems to reverse as soon as the arrow appears. On testing the indicator on a live market, however, you will find out that the bullish or bearish signals only appear after the market has completed a reversal. The reversal arrow appears on the chart only when the reversal has been confirmed. This shows that the Lucky reversal indicator lags.