Calculates and plots a multi-band envelope on the price chart based on mean reversion principles and Keltner Channel concepts. Instead of standard moving averages, it uses advanced filters such as Ehlers SuperSmoother, Butterworth, Gaussian, or traditional ave
Indicator · Pine Script v6 · On the chart
MA200 Wick Rejection
A strategy visualizer, with no real orders, that tracks a 200-bar moving average of lows on the 1-hour timeframe.
Repaints
GitHub stars1on the repository
Pine versionv6current
Lines of code438
Settings21inputs
LicenceNone stated
Last update2 weeks ago12 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
When price touches the average it arms, then marks long or short entries on a wick rejection seen on 5 or 15 minute candles, or a run of three same-direction closes on 3 and 5 minute candles. The stop is the trigger extreme plus an ATR buffer, the target the rolling 24-hour extreme, and the stop moves to break even at a set multiple. A statistics panel is optional.
- 1-hour SMA 200 on lows with optional smoothing
- Wick rejection and triple close entries
- ATR buffered stop, 24-hour high/low target
- Break-even move and statistics panel
Details
Published by
kasutu on GitHub
Type
Indicator, Pine Script v6
Draws
On the price chart
Category
Mean reversion, Support & resistance, Moving averages
Markets
Gold, Forex
Timeframes
M1-M5
Risk Notes
- Reads higher-timeframe data with lookahead on, so the history can show signals that were not there in real time
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Mode | string | Manual | mode |
| Strategy Active (manual toggle) | bool | true | active |
| Max Trades Per Day (0 = no limit) | int | 0 | maxPerDay |
| Lookback (weeks) | int | 8 | lookbackWeeks |
| MA Length | int | 200 | maLen |
| MA Timeframe | timeframe | 60 | maTF |
| Smoothing Type | string | None | smoothType |
| Smoothing Length | int | 14 | smoothLen |
| BB StdDev | float | 2.0 | bbMult |
| Strategy Uses | string | Smoothed MA | signalLine |
| Entry: Wick Rejection (5m / 15m) | bool | true | useWick |
| Entry: Triple Close Reversal (3m + 5m) | bool | true | useTriple |
Show all 21 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Wick Timeframe | string | 5m or 15m | wickMode |
| Lot Size | float | 0.10 | lots |
| SL ATR Length (15m) | int | 14 | atrLen |
| SL Buffer (x ATR) | float | 0.5 | atrMult |
| Whole Number Step | float | 1.0 | wholeStep |
| Move SL to BE at RR | float | 1.0 | beRR |
| Show 24h High/Low | bool | false | showPD |
| Show Info Panel | bool | true | showTable |
| Show Skipped Signals | bool | false | showSkips |
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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