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Strategy · Pine Script v6 · On the chart
TeleNexus Sovereign IB Mean Reversion V6
This strategy identifies Interactive Brokers opening range periods on the price chart and performs mean reversion trades around the midpoint or opposite side.
GitHub stars1on the repository
Pine versionv6current
Lines of code118
Settings20inputs
LicenceNone stated
Last update2 months ago15 Aug 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 strategy, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart. The trades and results appear in the Strategy Tester tab; adjust the settings with the gear icon.
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
TeleNexus Sovereign IB Mean Reversion V6 calculates the IB high, low, and range, then skips narrow or trend days using lookback averages. Entries occur when price crosses a moving average (EMA, SMA or VWMA) with volume confirmation. The strategy exits at the take-profit target or stop-loss level, both scaled to the IB range. Position sizing follows the defined commission and initial capital. Main settings adjust the IB window hours and minutes, extension factors, lookback length, volume multiplier, MA type and length, and daily loss limits. It draws entry signals, stop-loss, and take-profit on the main price chart overlay.
- IB Opening Range
- Mean Reversion
- Volume Confirmation
- MA Crossover
- Range-Based SL/TP
Details
Published by
raybird on GitHub
Type
Strategy, Pine Script v6
Draws
On the price chart
Category
Mean reversion, Support & resistance, Volatility & bands, Oscillators & momentum
Markets
Forex
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 |
|---|---|---|---|
| IB Start Hour (ET) | int | 9 | i_ibStartHour |
| IB Start Min (ET) | int | 30 | i_ibStartMin |
| IB End Hour (ET) | int | 10 | i_ibEndHour |
| IB End Min (ET) | int | 30 | i_ibEndMin |
| IB Avg Lookback (days) | int | 20 | i_ibAvgLen |
| Narrow IB % of avg | float | 0.70 | i_narrowPct |
| Wide IB % of avg | float | 1.30 | i_widePct |
| Skip Narrow IB Days | bool | true | i_skipNarrow |
| Skip Trend Day | bool | true | i_skipTrend |
| Extension Min (x IB Range) | float | 0.5 | i_extMin |
| Extension Max (x IB Range) | float | 1.0 | i_extMax |
| MA Type | string | EMA | i_maType |
Show all 20 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| MA Length | int | 50 | i_maLen |
| Volume Confirm Multiplier | float | 1.2 | i_volMult |
| Volume Avg Length | int | 20 | i_volLen |
| TP Target | string | IB Midpoint | i_tpTarget |
| SL (x IB Range) | float | 0.5 | i_slMult |
| EOD Hour (ET) | int | 15 | i_eodHour |
| EOD Min (ET) | int | 45 | i_eodMin |
| Max Daily Loss ($) | float | 500.0 | i_maxDailyLoss |
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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