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 v5 · On the chart
IB & EMA
This TradingView indicator plots three exponential moving averages of 10, 21, and 50 periods on the price chart.
GitHub stars2on the repository
Pine versionv5runs as is
Lines of code15
Settings1inputs
LicenceNone stated
Last update3 years ago18 Sep 2023
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
Users toggle visibility of each EMA via a group input. It also colors bars yellow when an inside day forms, defined by the current bar's high and low falling within the prior bar's range. The script draws directly on the chart to highlight consolidation periods and trend via moving averages. It provides no buy or sell signals, exit rules, or position sizing.
- Exponential Moving Averages
- Inside Day
- Bar Coloring
- EMA Toggle
Details
Published by
jvalen01 on GitHub
Type
Indicator, Pine Script v5
Draws
On the price chart
Category
Moving averages, Candlestick patterns
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 |
|---|---|---|---|
| EMA | bool | true | e |
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 educational script demonstrates custom candlestick rendering on the price chart using the plotcandle function. It 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 indi
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 draws smoothed candlesticks on the price chart. It applies a simple moving average of a user-set length, defaulting to nine, separately to open, high, low, and close, then plots those four values with plotcandle. Wick color is green when the raw
Major Buy Setup plots a 20-period and a 50-period simple moving average on the price chart. It marks a buy when the current bar is both a bullish engulfing candle and a bald bull candle, defined as a green candle whose upper shadow is no more than five percent
30 min Pivot is an overlay indicator that plots an exponential moving average (EMA) calculated from a specified timeframe (default 30 minutes) and flags specific multi-bar candle setups. It checks the relative distance between price and the higher-timeframe EM
Trade Your Charts With a Regulated Broker
Compare brokers that connect to TradingView, with spreads, minimum deposits and leverage side by side.
Compare brokers