The Reversal Strategy Plugin creates a second set of signals within TradersPro. These signals are programmed to find stocks that are ready to resume the current trend after a significant pull-back has occurred in an uptrend or a significant bear market bounce has occurred in a downtrend. This allows you to get into your trades earlier than just waiting for a new buy/sell signal.
It works best with a Fibonacci Reversal Indicator which with the click of a button overlays on your current chart allowing you to instantly identify Fibonacci patterns and high probability reversal zones. This plugin comes with 6 stock scans and ETF scans that are relevant to a trend reversal strategy. You can login and instantly have several lists of stocks that contain reversal chart patterns with huge profit potential.
You can toggle between the original TradersPro signals and the reversal signals. The Backtest All feature allows you to backtest multiple stocks at the same time. You can quickly sort by key statistics such as strength rank to see which stocks are performing the very best. You can apply this to your own custom screens and scans or upload a list of stocks from your computer.
If you’re not familiar with statistics like: Risk to Reward Ratio, Number of Winning Trades, Number of Losing Trades, Maximum Drawdown, and Trade Expectancy, you’re simply guessing on what your outcome will be. The backtest tool gives you clear, mathematical, statistical probabilities for virtually every U.S. and Canadian stock and ETF.