OPEN-SOURCE SCRIPT
Roc Mean Reversion (ValueRay)
Updated
This Indicator shows the Absolute Rate of Change in correlation to its Moving Average.
Values over 3 (gray dotted line) can savely be considered as a breakout; values over 4.5 got a high mean-reverting chance (red dotted line).
This Indicator can be used in all timeframes, however, i recommend to use it <30m, when you want search for meaningful Mean-Reverting Signals.
Please like, share and subscribe. With your love, im encouraged to write and publish more Indicators.
Values over 3 (gray dotted line) can savely be considered as a breakout; values over 4.5 got a high mean-reverting chance (red dotted line).
This Indicator can be used in all timeframes, however, i recommend to use it <30m, when you want search for meaningful Mean-Reverting Signals.
Please like, share and subscribe. With your love, im encouraged to write and publish more Indicators.
Release Notes
make the Indicator Levels genericRelease Notes
Drawing negative Threshhold-Lines, hence Mean-Reversion can happen in both directionsRelease Notes
Better plottingRelease Notes
Visual updatesRelease Notes
small tweaksRelease Notes
- Updated to Version 5- Choose Colors
- Choose Levels
- Better default values
Release Notes
- Small Tweaks
Release Notes
- removed link (house rules policy)
ValueRay ➤ Stock Screener and Value Analyser in Hedge-Fond Quality
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
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