Bottom X Candle

Title:
Bottom X Candle — Extreme Bottom Detection (Last Signal Only)

Short Title:
Bottom X - Candle

Tags:
bottom, reversal, exhaustion, swing-low, candle-pattern, signal, market-structure, trend

Short Description:
An extreme bottom detection indicator that highlights the most recent potential reversal point only.

Full Description:
The Bottom X Candle indicator is designed to detect potential extreme market bottoms by analyzing price behavior across multiple lookback ranges.
It focuses on identifying exhaustion points where price reaches a new relative low, signaling a possible early-stage reversal or stabilization area.

To maintain clarity and reduce chart noise, the indicator displays only the most recent valid signal, making it ideal for traders who prefer clean charts and clear decision points.

How It Works

The indicator evaluates price action to identify a synchronized low across short-term and mid-term ranges.
A signal is generated when price establishes a fresh downside extreme compared to previous market structure, suggesting potential seller exhaustion.

When conditions are met:

A “Bottom X” label is plotted at the latest detected bottom

Only the last confirmed signal remains visible on the chart

Earlier signals are automatically removed

Key Features

Extreme bottom detection based on multi-range price behavior

Displays last signal only for maximum chart clarity

Adjustable label size and text color

Works on all markets and timeframes

Built-in alert for real-time notifications

Non-repainting logic (signals confirm after formation)

Use Cases

Spotting potential market exhaustion zones

Identifying early reversal areas

Supporting swing and position trading decisions

Confluence tool alongside trend or momentum indicators

Reducing overtrading by focusing on the latest valid setup only

Notes

The indicator highlights potential bottoms, not guaranteed reversals.

Best used in combination with trend confirmation or additional analysis.

Signal placement is based on confirmed historical price data.

Disclaimer

This script is for educational and analytical purposes only and does not constitute financial advice.
Trading involves risk; always confirm signals using additional tools and proper risk management.

Developer

Developed by Abdulrahman Alotaibi — Scripts