Mean Reversion Study is an indicator that identifies trade setups combining exponential moving averages, RSI extremes, and engulfing candlestick patterns. It highlights bullish setups when a bullish engulfing candle forms below the EMA while RSI is oversold, a
Indicator · Pine Script v4 · On the chart
課程-自行繪製K棒與調整物件樹的方法
This educational script demonstrates custom candlestick rendering on the price chart using the plotcandle function.
GitHub stars219on the repository
Pine versionv4older, still runs
Lines of code14
Settings0inputs
LicenceNone stated
Last update5 years ago18 Aug 2021
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
課程-自行繪製K棒與調整物件樹的方法 calculates a 20-period Simple Moving Average and checks if the bar's low price remains strictly above it. When the condition is met, the indicator overlays custom candles colored blue for bullish bars and yellow for bearish bars. If the condition is not satisfied, no custom candle is rendered. The script serves as an instructional example for conditional candlestick visualization.
- Custom candlestick plotting with plotcandle
- Conditional bar rendering based on SMA
- Bullish and bearish bar color customization
Details
Published by
TaichiS on GitHub
Type
Indicator, Pine Script v4
Draws
On the price chart
Category
Candlestick patterns, Moving averages
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Topics
tradingviewpinescript
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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