This mean-reversion strategy plots Bollinger Bands and a long-term moving average directly on the price chart. It enters trades when price candles penetrate the outer Bollinger Bands beyond a user-defined body percentage, anticipating a price reversal. Entries
Strategy · Pine Script v6 · On the chart
TN Sovereign Fakeout Filter
This strategy filters fakeout signals using a 4-layer causal scoring system to ensure high-conviction entries on the price chart.
Repaints
GitHub stars1on the repository
Pine versionv6current
Lines of code84
Settings12inputs
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
TN Sovereign Fakeout Filter computes a sovereign score based on volume exceeding a moving average multiplier, alignment with higher-timeframe EMA, minimum ATR move size, and fast EMA above slow EMA. Only when the score meets or exceeds the minimum threshold does it generate long or short signals from EMA crossovers. Risk is managed using a percentage of capital with stop loss and take profit distances calculated from ATR multiples. The higher-timeframe EMA is fetched with security functions, allowing trend alignment across multiple timeframes. Main settings adjust filter sensitivity, risk parameters, and EMA lengths. It draws entries directly on the price chart without additional panes.
- 4-layer causal filter
- Sovereign score synthesis
- HTF EMA alignment
- ATR risk management
- EMA crossover signals
Details
Published by
raybird on GitHub
Type
Strategy, Pine Script v6
Draws
On the price chart
Category
Trend, Volatility & bands, Moving averages
Markets
Any symbol
Timeframes
Any timeframe
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 |
|---|---|---|---|
| HTF Timeframe | string | 60 | htfTF |
| HTF EMA Length | int | 50 | htfLen |
| Volume MA Length | int | 20 | volLen |
| Volume Multiplier | float | 1.5 | volMult |
| ATR Length | int | 14 | atrLen |
| ATR Min Move (Mult) | float | 0.3 | atrMult |
| Min Sovereign Score (1-4) | int | 3 | minScore |
| Fast EMA | int | 9 | fastLen |
| Slow EMA | int | 21 | slowLen |
| Risk Per Trade % | float | 1.0 | riskPct |
| Take Profit (ATR Mult) | float | 2.0 | tpMult |
| Stop Loss (ATR Mult) | float | 1.5 | slMult |
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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