MedianBandsHere I propose another simple S/R band technique, works on all TF and all securities, this is again one of the simplest forms of logic with a little tweak to tackle modern volatile markets.
It enables us to trade both mean reversion as well as breakout trades as it works in both trending and non-trending markets. You can even use pre-existing ranges as good position management markers.
It requires little to no intervention from the user. The white line is the opening price of the day, I'm a big believer of that so you will find it everywhere in my indicators. :3
Past performance is not assurance of the future performance and this is for educational purposes only.
The script will be protected to avoid theft but you can add to your favorites to use it as you please.
Enjoy~
Meanreversion
Kilted Nessie v1.0KILTED NESSIE v1.0
Description: Uses the “Kilted Strength Meter” for confirmation to take a trade as this system is designed for a ranging market (as shown).
This is a simple mechanical system that was tested on 30min charts with a very good win rate which is what we want from a mean reversion based system and it is designed for a 1:1 risk to reward ratio.
The key differentiator on this indicator which we see as a first on the Trading View Platform is a way of scoring your trade, so that you take a disciplined entry and able to journal that as evidence:
SETTINGS AND EXPLANATION
General Settings
- Show PinBars – This will highlight pinbars
- Show InsideBars – This will highlight inside bars
- Show Swing Highs – This will show high pivot points
- Show Swing Low – This will show low pivot points
1. If you are using the Kilted Strength Meter and you like using Bollinger bands then there is no reason why you can’t take trend based trades also when you see evidence of a trend starting, which is why we have added options to show Pin Bars, Inside Bars and swing highs and swing lows if you are a swing based trader. Yes this gives you a single indicator that provides you with trading opportunities when the market is going sideways and when the market is trending which is what we love about the Kilted Nessie. If you are just using the indicator to trade a sideways market then we recommend that you “untick” these options to keep things nice and simple instead.
ACCESS : If you need access to any of our indicators please use the link below to obtain access to this indicator or send us a private message on trading view.
BBPCTIndicator tracks percentage distance between current price and its historical deviations, to produce premium and discount zones, suggest mean reversions,cooldowns and pullbacks
Script so far is traditional,simple, and straight forward ,tinkered it real quick on friend request after failing to find properly done and intuitive work on Bollinger Bands % in pine library
It might or might not be re-published as open source or study protected script , really depends on how future updates goes,how much work will be put in and how unique end result will be.
//Input Options in first release
Option to switch between small (6) variety of filters
(This time no non-traditional filters to avoid overwhelming and confusing users ,current list still yields good diversity for changing indicators behavior and pinpointing best suited filtering direction, in future current types will be swapped with more advanced ones and consolidated into three options tailored for different market conditions - trending,ranging, and balanced(?) - jack of all trades master of none.)
Option to toggle basic warnings about possible reversals,option for colored bars(candles) and/or arrow plots
OB/OS levels can be adjusted via inputs
Note: Current default compiling will lack traditional values as i ditched them and set to personal preference, set to 100 0 for traditional look
Sigma can be changed in inputs,length obviously can be changed too
Source can be changed
//Upcoming updates
Polishment- algorithmic change for cores logic
Attempt to build logic to differentiate pullbacks from reversals
More complex reversal recognition and their confirmations
Proper color coding
//Screencaps
Dont use comment section for asking access , got two warnings already from tradingview moderators because people flood the comment section and apparently its offence from my end to not provide directions for access.
If u are willing to test indicator and actually deliver feedback,ideas, params - Dm(direct message) and we add u ,expiration timer will be set in place to clean up in case no feedback is delivered.
P.S its not likely i will add more people to testing after people count reach 40-50 or script becomes older than week
GMS: Candlestick Patterns with RSI FilterI wanted to apply an RSI filter to some of the new Candlestick Patterns (in the indicators tab) since some of them looked to be quite effective for picking reversals. Turns out it's a pretty good pairing.
You can modify the RSI length in addition to the upper and lower thresholds. I also added in check boxes to combine different bullish and bearish patterns.
The candlestick patterns included are:
1. Long Upper Shadow
2. Long Lower Shadow
3. Doji
4. Bullish Harami
5. Bearish Harami
6. Bullish Engulfing
7. Bearish Engulfing
Hope it helps!
Andre
Hammer & Shooting Star IndicatorA hammer candle is defined here as 1) the lower shadow (wick) is at least twice the length of the main body and 2) the close is in the top half of the range.
A shooting star has the opposite conditions 1) the upper shadow is at least twice the size of the main body and 2) the close is in the lower half of the range.
These candles should not be used by themselves but used in context ie with Bollinger bands, RSI or other oscillators they can form part of a mean reversion system.
Wick SniperThis indicator is free to all Oasis Trading Group members.
The Wick Sniper was created to catch volatile moves that are extended from the mean. It uses an advanced ATR formula to follow price like a band, with an upper deviation and a lower deviation. I have also added a 1 candle offset so that the moves are not in "hindsight". Feel free to experiment with the inputs to find what is best for your asset.
For Access or Questions: Private message us. Thank you.
Bars above/below EMACount of previous bars above or below a chosen Exponential Moving Average. Typically price reconnects with well defined EMAs regularly. If the price has been above/below an EMA for too long, you can expect a reconnect in a short order and bet on mean reversion strategies.
Channel ATR1 - What is the Channel ATR indicator
This is an envelope indicator (like the Bollinger bands indicator) used to evaluate how much the price diverge from it's moving average.
This indicator can be used as a system on it's own. I recommend to use it when the market goes side way, although, you can also use it when the market is trending.
What makes this indicator so relevant and reliable ? The use of the ATR to build the envelope. Read below if you wan to know more.
2 - How is the Channel ATR computed
The main component is an EMA. The envelope is made of 3 layers, each is the Average True Range, plot at a multiple distance from the EMA (1*EMA, 2*EMA, 3*EMA) . If you don't know what is the ATR, it's basically a measure of the volatility (you can read more about it here ).
Each layer of the envelope is a multiple of the measure of the volatility. Let's see how to use it.
3 - How to use the Channel ATR indicator
You can use this indicator in different strategies :
- Return to the mean: When the price goes out of the envelope, it's an excess of the market. You can take advantage of this by betting to a return to the EMA value.
- Trend following : If the market is tending, you can buy/sell when the price touch the EMA and place a target at another level in the envelope.
- Stop loss: Since each envelope layer is built from the ATR (i.e. the volatility), you can use it to place your stop at least at 1 ATR from your entry, to not be hit by the market noise.
- Find your own way : The Channel ATR is a very rich and powerful indicator, you can try to built your own trading system on the top of it.
EMA Mean Reversionthis is a mean reversion strategy using ema std deviations
use flat scaling 5 orders buy and sell - just close it back when it hits the VWMA
strategy operates to make dozens of small profitable trades in exchange for a larger loss on rare trending moves.
It works by projecting five 0.5% std deviations from the ema as volatility bands to help you scale into shorts and longs. generally flat scaling will work better than ascending. there is no SL logic for the strategy - positions should be closed when prices crosses back through the VWMA . To be used on lower timeframes only as the bands to do not expand or contract according to ATR
Data MeanCalculating the Mean, given a set of data.
I'd assume BTCUSD needs to touch this on the daily, as it hasn't yet.
"reverting to the mean" is essential in market dynamics.
GMS: Mean Reversion IndicatorThis is just the close represented as a standard deviation away from an "x" period linear regression. You can select the price source as well.
PivotBoss Vwap BandsThis script has the Vwap and three standard deviation to it. Used for mean reversion
MXKE | Swing Trader AssistIntroduction
Swing Trader Assist indicator is designed to assist in the systematic identification of Hammers & Lookback signals within Uptrending markets, Stars & Lookback signals within Downtrending markets, and Mean Reversion signals within Sideways markets. The trader must first identify a strong market trend, then apply the indicator. Application of the indicator to weak trends will render equally weak signals. Application of the indicator to strong trends will render equally strong signals. Identification of strong trends is the responsibility of the individual trader and is instrumental to the successful deployment of this indicator and accompanying trading plan.
*Please comment below to request access*
*Please share with me on Twitter your usage and/or ideas for improvement so that I may improve this indicator in the future*
Market Types
Uptrend: Higher highs + Higher lows
Downtrend: Lower highs + Lower lows
Sideways: Higher highs + Lower lows (Expanding Range) or Lower highs + Higher lows (Narrowing Range)
Position Sizing
1R = .25%-2% of total nominal capital dependent upon timeframe and risk appetite
Order Types
Entry: Buy Stop 1 tick above High of “Up” Signal Bars; Sell Stop 1 tick below Low of “Down” Signal Bars
Stop: Bar Close <= 1 tick below Low of “Up” Signal Bar; Bar Close >= 1 tick above High of “Down” Signal Bar
Profit Target: 1.5R distance from “Up” or “Down” fill level with the option to trail stop on each new swing high/low; Bollinger Band Midline minimum 1.5R distance from “Sideways” fill level with option to trail stop on continuation to the opposite end of the range (opposite Bollinger Band)
Trading Plan
❑ Market Type is clearly identifiable as Up, Down or Sideways
❑ Swing Trader Assist indicator is set to the corresponding Market Type: Up, Down or Sideways
❑ Position size is no more than .25%-2% of total nominal capital (based on distance from Signal Bar fill level to Signal Bar stop level as 1R)
❑ Distance from Signal Bar fill level to potential Profit Target is minimum 1.5R
❑ On Hammer or Star fill: close position into trend extension at 1.5R+ or adjust trailing stop on each new swing high/low
❑ On Mean Reversion fill: close position at midline or adjust trailing stop on each continuation to opposite end of range
Usage Notes
The indicator will display developing signals intrabar and it is therefore suggested to wait until bar close to act on any signals. “Autodetect” setting under “Market Type” is currently in beta mode. While it is designed to reveal only relevant signals within strong trends based on a series of EMAs, this setting has not been extensively tested. Use with caution.
The indicator is not meant to be a mechanical trading system. It is designed to assist the trader in objectively and systematically identifying signal bars during the execution of the below swing trading plan. It is up to the trader to determine if overall price action warrants acting upon the signal bars or not.
Case Studies
Trap Out The Bandos by ZFelds3 Deviation Bollinger Bands w/ Lookback Periods based on the Fibonacci sequence.
Median plot based on standard 2 deviation Bollinger Bands.
ATR-ranged Donch on 15min// This is a simple Mean Reversion & Breakout Indicator.
// A Donchian Channel is plotted. A threshold equal to 0.25 of Daily ATR.
// If price reverses from this threshold, then it can be taken as possible Mean Reversion.
// If price crosses the previous Donchian levels, it can be taken as a possible breakout.
// Typical of such strategy is the whipsaw effect when price movement is just flat.
// I have marked the region where the lower and higher thresholds are closer to be an indicative of whipsaw.
// But it is not really effective to avoid whipsaw.
Colour Coded Bollinger BandsBollinger Bands coloured to more clearly show periods of contraction and expansion. Green filled bands indicate expansion/increasing bandwidth, and red fill indicates contraction/decreasing bandwidth.
Mean Street V1script for mean reversion conditions - tweak-able based on the volatility of the asset its used on, and the time frame
Escape VelocityThis script is meant to calculate the Escape Velocity from the mean. According to Investopedia "Mean reversion is theory used in finance that suggests that asset prices and historical returns eventually return back to the long-run mean or average level of the entire data set."
Escape Velocity is the lowest velocity which a body must have in order to escape the gravitational attraction of a particular planet or other object, in this case the mean. It is recommended that you use a moving average with the same length as the ones that you decide to use for this indicator.
Escape Velocity= sqrt((2*Gravitational Constant * Mass)/Distance from the mean)
The Escape Velocity is in red and the velocity of price is in green. When price velocity (green) is positive and greater and than escape velocity (red) and price is above the mean, this would indicate that price is breaking away from the mean (bullish). When price velocity is negative and less than escape velocity and price is below the mean, this would indicate that price is breaking away from the mean (bearish).
OB/OS Highlighter Mean-RevBar colors:
Red = lower low
Green = higher high
Yellow = Extreme, potential reversal upcoming
***Ignore when price breakout\trends, as this is for Mean-Reversion***
Impulse ReverseMark the candles that should be used to star a Impulse Reverse trade. A the Impulse Reverse trade is a counter-trend type of trading that uses the mean reversion concept.
A mean reversion trade is a type of trade that looks for price that has moved away significantly from its mean (average) price. Every stock has its unique combination of parameters that best fit the mean reversion, the default parameters of this script is the best fit for the WIN1! (IBOV Mini Future) when used on the 30m timeframe
ST_TopHatLiteDisplays high probability signals for mean reversion trades based on multiple time frame analysis. This "Lite" version of the indicator is available to those who purchased the full version for TOS or TradeStation upon request.
Kovach ReversalsWith the Kovach Reversals indicator, we automate the process of scanning for technical candlestick reversal patterns. A bearish reversal is shown by a red triangle above the high of the most recent candlestick in the pattern, a green triangle indicates a bullish reversal. To mitigate false positives, we filter for the reversal patterns at the extrema of the price range, where a reversal is highly likely to occur. While many indicators are susceptible to time lag, the reversals are drawn instantaneously as the bar forms, giving you the ability to get in on a trade as the setup develops.
This indicator works best with the Kovach Momentum, Kovach Chande, or Kovach OBV indicators, where we can leverage the strengths of both to increase our probability of success.
UCS_TTM - Reversion BandsOk, Here we go - Version 1 of TTM Reversion Band goes live.
Link to TTM Reversion Band - www.tradethemarkets.com
Link to TTM Reversion Band Guide - kb.simplertrading.com
John Carters Mastering the trade - www.amazon.com
For the amount of information this has, the price tag is not hefty.
John's RTM Chapter Synopsis - www.tradethemarkets.com
What did I modify?
1. Automated the Daily + and Intraday settings. So Switching to intraday will change the setting automatically.
2. Added text callouts for RTM condition
a. John Carter's Indicator
b. Slope Based (my addition).
Future Improvement Planned.
1. Will Convert this into a system based on John's Indicator from TS.
2. Custom Options for Slope and MA setting for Trade filter.
