Very basic script... adjust the EMA to 13 for stocks, and less volatile assets. 26 for crypto, and anything highly volatile.
When the Daily Low line (bottom yellow/orange line) dips hard, and finds support for 3+ bars somewhere, this is a sign of a trend reversal. For a solid confirmation, wait for the Super Average and EMA to spike downwards as well. All of this can also be seen as reversal at the top of a trend, just upturned.
The 2 Daily lines (2 yellow/orange lines) act as support for the price to bounce off of. Fine tuning is required to get these really smooth, but it's a simple enough idea.
Edit: Screwed up the EMA in my posted example. Should be 26.
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In this version, I've added an input for the length of the EMA, and names for the plot functions.
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General clean up here. Numbers are now simplified to one decimal place, and shown as an integer, not a float.
The EMA has been changed to a SMA, due to better reaction and confirmation in testing.
As of 10/13/21, there is a bug which prohibits accurate statements on the indicator, when the price is below a certain level (~300 USD). This will be fixed soon.