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
Reversal Probabilities (VWAP + Slope) (Stable Bands)
This indicator plots VWAP of the typical price and upper and lower bands from a rolling standard deviation of price versus VWAP.
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code180
Settings18inputs
LicenceNone stated
Last update9 months ago14 Jan 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
Reversal Probabilities (VWAP + Slope) (Stable Bands) scores possible downside and upside reversals from RSI extremes, band touches, a 9-period versus 21-period EMA, and candle direction, then scales each score into a percentage. A VWAP slope in basis points can reduce scores that oppose the trend. Event labels appear above a probability threshold, with cooldown and a daily cap, and optional outcome lines follow after a set number of bars. Everything is drawn on the price chart.
- VWAP with rolling standard-deviation bands
- RSI, EMA, and candle reversal scores
- VWAP slope trend penalty
- Probability event labels with cooldown
- Outcome lines after a set bar count
Details
Published by
knectardev on GitHub
Type
Indicator, Pine Script v5
Draws
On the price chart
Category
Oscillators & momentum, Moving averages, Volatility & bands, Mean reversion
Markets
Any symbol
Timeframes
M15-H1
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 |
|---|---|---|---|
| VWAP Band Multiplier | float | 1.5 | bandMult |
| Band StDev Length (bars) | int | 40 | stdevLen |
| RSI Length | int | 14 | rsiLen |
| RSI Overbought | int | 70 | rsiOB |
| RSI Oversold | int | 35 | rsiOS |
| VWAP Slope Lookback | int | 20 | slopeLen |
| Slope Threshold (bps/bar) | float | 2.0 | slopeThrBps |
| Trend Penalty Factor | float | 0.35 | slopePenalty |
| Show Probability Labels (events) | bool | true | showProbLabels |
| Event Threshold (prob %) | float | 60.0 | probThresh |
| Dominance Margin (%) | float | 10.0 | dominanceMargin |
| Cooldown Bars Between Events | int | 8 | cooldownBars |
Show all 18 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Max Labels Per Day | int | 80 | maxLabelsPerDay |
| Evaluate After N Bars | int | 6 | evalBars |
| Min Move % to Count (0 = any) | float | 0.0 | evalMinMovePct |
| Show Outcome Vertical Lines | bool | true | showOutcomeLines |
| Outcome Line Transparency (0-100) | int | 60 | outcomeLineAlpha |
| Label Padding (ATR) | float | 0.6 | labelPadAtr |
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
Antigravity Elite is an overlay indicator that screens price with seven selectable components: Mercury Fear, Connors RSI-2, volatility-spike reversal, EMA stack, Supertrend, multi-sigma bands, and an optional funding proxy. Auto-Detect chooses one method, whil
Ari zScore calculates a z-score as the difference between a fast and a slow simple moving average of close, divided by the standard deviation of close. It plots numbered triangles above and below price bars when that value enters fixed magnitude bands, optiona
This indicator plots standard Bollinger Bands consisting of an upper band, lower band, and a simple moving average directly on the price chart. It calculates the Relative Strength Index to identify overbought conditions. A bearish signal displays as a red down
This overlay indicator plots a Supertrend from an ATR length and factor, four exponential moving averages, and a selectable VWAP or TWAP taken from a chosen timeframe on the price chart. It also shows MACD and stochastic with adjustable lengths, smoothing, ver
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
Trade Your Charts With a Regulated Broker
Compare brokers that connect to TradingView, with spreads, minimum deposits and leverage side by side.
Compare brokers