Version 3 Notes


Version 2 Notes


Version 1 Usage Notes


General Notes:

For advanced help in implementing the watchlists provided by Bryan and Lance, please see the attached Word document at the end of this article. This will be included in future roll-outs of the indicator.

If the indicator prints a buy or sell arrow, that arrow can disappear if price goes the other way.

Version 3 Specific Notes:

Time frames need to be adjusted by the user to incorporate more data than is incorporated by default. For 5 minute charts 20 days of data 15 minute charts 30 days of data hourly charts 60 days of data daily charts 3 years of data.

Chart settings: under either the options or futures or equities tab make sure that the following two items are unchecked: show extended hours, and start aggregation at market open. The indicator will not function properly if these are not unchecked.

Lastly, under Customize/Edit Formula for the watchlist reversal signal tool, "include Extended Hours" must also be unchecked unless you intend to use the tool during extended trading (not recommended from functional POV)

Frequently Asked Questions

Q: Regarding the Daily chart, I only see the cloud up to the most recent trading date, not 21 days forward.

How do I adjust my chart to reflect the cloud 21 days forward the way it reflects on your chart?

A: To get the projection 21 days forward you have to set, on the daily chart window, under the gear icon, then choose "time frame" then choose "extend.." which should current show 0. via the drop down, 50 periods.

Courtesy of Edwin and Bryan


  • Version 1 (May 16, 2019)
    Initial Release
  • Version 2 (July 18, 2019)
    Created a reversal/trend watchlist scanner tool on 5, 15, hourly and daily timeframes.
    Changed dotplot color to a neutral color when the ribbon is showing no trend.
    Slightly adjusted when signal arrows appear.
    Enabled the user to select the border color for the option iv trading range tool as well as enabled the user to turn off the shading in that range.
    Added Second instructional video for installing watchlist tools.
  • Version 3 (April 14, 2020)
    Added the ability and study settings for the user to change the color scheme for price candles to whatever they wish them to change to when price action is in a downtrend or an uptrend.
    Simplified chart labels to simply indicate downtrend uptrend or no trend.
    No changes were made to any of the four watch list tools that are included with the indicator, and usages the same as previous versions. Please see prior mentoring sessions for more information.