This indicator plots trade entry and exit signals on the price chart by combining Bollinger Bands with optional filter conditions. It calculates standard Bollinger Bands along with RSI, Aroon, and moving average filters. Reversal signals trigger when price bre
Indicator · Pine Script v5 · On the chart
Deviation Based Reversion with Stats
Calculates mean reversion signals using statistical deviation metrics such as MAD, Standard Deviation, ATR, Z-Score, IQR, or Mean AD relative to customizable moving averages.
GitHub stars46on the repository
Pine versionv5runs as is
Lines of code366
Settings38inputs
LicenceNone stated
Last update7 weeks ago4 Sep 2026
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
Deviation Based Reversion with Stats applies optional volume spike thresholds and trend filters to generate bullish and bearish reversion setups directly on the price chart. Additionally, the indicator tracks signal performance by evaluating price progression over a set look-forward period against custom success and failure targets.
- Multiple statistical deviation options including MAD, ATR, and Z-Score
- Versatile moving average selection including T3, ALMA, and KAMA
- Integrated volume spike and trend filtering
- Forward-looking performance tracking with custom success thresholds
Details
Published by
TamaraKGreen on GitHub
Type
Indicator, Pine Script v5
Draws
On the price chart
Category
Mean reversion, Moving averages, Volatility & bands
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.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Lookback Period | int | 20 | bull_length |
| Enable Trend Filter | bool | true | bull_trendFilter |
| Cooldown Period (Bars) | int | 10 | bull_cooldownBars |
| Deviation Measure | string | MAD | bull_deviation_type |
| Deviation Multiplier | float | 2.7 | bull_madMult |
| Volume Avg Period | int | 14 | bull_volLength |
| Volume Spike Threshold | float | 1.7 | bull_volThreshold |
| Look-Forward Bars | int | 7 | bull_lookForwardBars |
| Success Threshold | float | 20.0 | bull_successThreshold |
| Failure Threshold | float | 20.0 | bull_failureThreshold |
| Threshold Type | string | Points | bull_successThresholdType |
| Conviction Arrow Color | color | color.blue | bullish_conviction_color |
Show all 38 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| MA Type | string | T3 | bull_ma_type |
| ALMA Offset | float | 6 | bull_alma_offset |
| ALMA Sigma | float | 0.85 | bull_alma_sigma |
| TVMA Length (>1) | int | 3 | bull_tvma_length |
| T3 Factor | float | 0.7 | bull_t3_factor |
| KAMA Fast EMA Length | int | 2 | bull_kama_fast_len |
| KAMA Slow EMA Length | int | 30 | bull_kama_slow_len |
| Lookback Period | int | 8 | bear_length |
| Enable Trend Filter | bool | true | bear_trendFilter |
| Cooldown Period (Bars) | int | 10 | bear_cooldownBars |
| Deviation Measure | string | MAD | bear_deviation_type |
| Deviation Multiplier | float | 2.0 | bear_madMult |
| Volume Avg Period | int | 14 | bear_volLength |
| Volume Spike Threshold | float | 1.5 | bear_volThreshold |
| Look-Forward Bars | int | 5 | bear_lookForwardBars |
| Success Threshold | float | 20.0 | bear_successThreshold |
| Failure Threshold | float | 20.0 | bear_failureThreshold |
| Threshold Type | string | Points | bear_successThresholdType |
| Convexity Arrow Color | color | color.purple | bearish_conviction_color |
| MA Type | string | EMA | bear_ma_type |
| ALMA Offset | float | 6 | bear_alma_offset |
| ALMA Sigma | float | 0.85 | bear_alma_sigma |
| TVMA Length (>1) | int | 3 | bear_tvma_length |
| T3 Factor | float | 0.7 | bear_t3_factor |
| KAMA Fast EMA Length | int | 2 | bear_kama_fast_len |
| KAMA Slow EMA Length | int | 30 | bear_kama_slow_len |
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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