by 
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 v6 · On the chart
Division Candle Overlay
A bar-colouring indicator that splits each candle's high-to-low range into a chosen number of divisions, from 2 to 10.
GitHub stars1on the repository
Pine versionv6current
Lines of code45
Settings5inputs
LicenceNone stated
Last update7 days ago22 Oct 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
A bar is coloured green when its close is in the top division and red when it is in the bottom division; bars matching neither, or both, stay uncoloured. Each zone can be switched off and its colour changed. It works on the price chart and does not produce signals, alerts or trade rules.
- Colours bars by where the close sits in the range
- Selectable division count from 2 to 10
- Separate upper and lower zone toggles and colours
- Overlay on the price chart
Details
Published by
ElroyvOuwerkerk on GitHub
Type
Draws
On the price chart
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 |
|---|---|---|---|
| Enable Upper Zone (Green) | bool | true | useUpper |
| Enable Lower Zone (Red) | bool | true | useLower |
| Upper Zone Color | color | color.new(color.green, 0) | upperCol |
| Lower Zone Color | color | color.new(color.red, 0) | lowerCol |
| Number of Divisions | string | 4 | divOpt |
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.
Similar Pine Scripts
This overlay indicator marks Linda Raschke short-term bar setups on the price chart. It flags Turtle Soup and Turtle Soup plus one false breakouts of a prior extreme, 80-20 bars, inside bars, failed inside-bar breakouts, outside up and down bars, NR4 and NR7 c
This indicator identifies candlestick patterns on the price chart by combining price action with momentum factors and trend filters. It calculates one of four selectable oscillators: Karobein Oscillator, Money Flow Index, RSI, or Stochastic, alongside trend ru
This indicator overlays on the price chart and provides trend and momentum analysis. It calculates and plots three exponential moving averages with fixed periods of 20, 50, and 200 using yellow, orange, and blue colors respectively. The script also computes th
EmaRainbowCandleMark is a price-chart overlay that calculates a stack of exponential moving averages with Fibonacci-style lengths and tests candles for hammers, shooting stars, and bullish or bearish engulfing patterns. Body-to-wick tolerances set how strict t
This indicator detects buy and sell signals on the price chart by combining engulfing candlestick patterns, body-to-range stability ratios, RSI boundaries, and price momentum over ten bars. Confirmed signals trigger visual buy and sell labels directly on candl
Related on ForexR
Trade Your Charts With a Regulated Broker
Compare brokers that connect to TradingView, with spreads, minimum deposits and leverage side by side.
Compare brokers