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The Oil Money people developed a Yellow Double Tail Indicator which was good to identify reversals and Pullbacks. If anyone is familiar with this indicator would you know of someone who sells something similar or who could develop one.
It is a modified Unirenko bar of some sort.
Can you help answer these questions from other members on NexusFi?
Every reversal happens on a Yellow Double Tail but not every Double tail is a reversal.
I use a tick chart and other stuff to differentiate if its a reversal or a pullback. Not always right but 80% works great.
I suspect that the two delta divergences are illusory due to the heiken-ashi overlay.
The actual bar colors are likely the same as their respective delta.
