Originally Posted by: 77Bundyrun

I have been trying to work on an expoloraton where the SP of a share bounces of a SMA or EMA but have had no success.

am I trying to reinvent the wheel or has this exploration formular all ready been written somewhere and I can not locate it.

Please assisst.

Regards

I would say this largely comes down to how you want to define such a condition. Can the price dip below or does it have to come within a certain amount and then reverse? At its simplest I would say you're just looking back for a negative rate of change (to within a certain price value) followed by a positive rate of change afterward.

We do not have anything pre-built but something like that should be relatively easy to construct, but largely comes down to the details (how long must the trend have been moving down before reversing, etc?).

The LCI Explorations take a similar approach in principle, based on Fibonacci support and resistance, although these formulas are not open and may take other factors into consideration.