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
蜡烛图形态
This overlay indicator classifies candlestick shapes using body, wick, and range sizes, then filters them with volume, RSI, MACD, and exponential moving averages.
GitHub stars1on the repository
Pine versionv6current
Lines of code163
Settings0inputs
LicenceNone stated
Last update1 year ago31 Mar 2025
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 hammer needs a long lower wick, a small bearish body, RSI below 30, and elevated prior volume. Bullish engulfing requires the current close above the prior open and the 20-period EMA plus higher volume. Three soldiers need three rising bullish closes, rising volume, and a rising 30-period EMA. Bearish hanging-man and bearish-engulfing checks use the opposite filters. The supplied code stops before the three-crows logic, and there are no user inputs.
- Hammer with RSI and volume filter
- Bullish and bearish engulfing checks
- Three rising bullish candles
- EMA20 and EMA30 confirmation
- RSI, MACD, and volume filters
Details
Published by
fuyuanyuan 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.
File
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 call and put setups from EMAs, RSI, MACD, and a SPY volume ratio. A call needs higher highs, RSI above its minimum, rising MACD, above-average proxy volume, and a rising trend EMA; a put reverses those tests. Early markers use an E
LiqSpikeBounceLong Feb2026 is an indicator designed to identify long bounce entries following high-volume liquidation cascades in bearish market contexts. It checks if price is below an exponential moving average, then detects large single-bar drops exceeding
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 generates trend-following trade signals on the price chart by combining moving average crossovers with multi-factor filters. It triggers entry alerts when fast and slow EMAs cross in the direction of a baseline trend EMA, confirmed by non-extrem
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
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