This indicator identifies mean-reversion setups by combining Bollinger Bands with Fair Value Gaps (FVGs). It tracks FVGs that print outside the upper or lower Bollinger Bands and counts them toward an alert threshold. Signals trigger upon gap mitigation (by to
Indicator · Pine Script v6 · On the chart
V8 Fast v2 R-Based Rounded Bottom/Top
A second version of a four-hour rounded bottom and top pattern indicator.
GitHub stars1on the repository
Pine versionv6current
Lines of code717
Settings22inputs
LicenceNone stated
Last update7 months ago13 Mar 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
A sharp drop or pump followed by a slow recovery or decline, filtered by a daily EMA, creates a long or short setup. Risk is expressed in R multiples with an ATR-based stop, staged targets at one, two and three R, a ratcheting stop and a trailing runner. It plots the daily EMA, shows entry and exit labels, a dashboard and a regime read-out.
- Drop or pump then slow recovery pattern
- ATR-based R multiple targets
- Ratcheting stop and trailing runner
- Daily EMA filter
- Regime dashboard and risk per trade input
Details
Published by
snoozie-v on GitHub
Type
Draws
On the price chart
Markets
Timeframes
H4 and above
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 |
|---|---|---|---|
| Drop/Pump Window (4H bars) | int | 120 | drop_window |
| Min Drop/Pump % | float | 13.0 | min_drop_pct |
| Rise/Decline Window (4H bars) | int | 75 | rise_window |
| Min Directional Bars Ratio | float | 0.25 | min_up_bars_ratio |
| Max Single Up Bar % | float | 10.0 | max_single_up |
| Max Single Down Bar % | float | -5.0 | max_single_down |
| Min Total Move % | float | 3.5 | min_rise_pct |
| Daily EMA Period | int | 6 | daily_ema_len |
| ATR Period | int | 14 | atr_period |
| Fixed Stop ATR Mult (= 1R) | float | 3.0 | atr_fixed_mult |
| Runner Trail ATR Mult | float | 3.9 | atr_trailing_mult |
| Fallback Trailing % | float | 6.0 | trailing_pct_fb |
Show all 22 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Fallback Fixed Stop % | float | 4.0 | fixed_stop_pct_fb |
| Risk Per Trade % | float | 3.0 | risk_pct |
| Enable Long Entries | bool | true | enable_longs |
| Enable Short Entries | bool | true | enable_shorts |
| Show R-Target Lines | bool | true | show_r_lines |
| Show Entry Labels | bool | true | show_trade_labels |
| Show Exit Labels | bool | true | show_exit_labels |
| Show Dynamic Stop Line | bool | true | show_stop_line |
| Show Drop/Pump Labels | bool | true | show_drop_labels |
| Account Equity ($) | float | 10000 | account_equity |
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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