OPEN-SOURCE SCRIPT
[dharmatech] KBDR Mean Reversion
Based on the criteria described in the book "Mean Revision Trading" by Nishant Pant.
Bullish signal criteria:
Bearish signal criteria:
A single triangle indicates that all 4 criteria are met.
If letters appear with the triangle, this indicates that there was a partial criteria match.
You can use the settings to turn off partial signals. For example:
"Partial 3" means show signals where 3 of the criteria are met.
If you want more insight into the underlying criteria, load these indicators as well:
Bollinger Bands (built-in to TradingView)
Keltner Channels (built-in to TradingView)
RSI (built-in to TradingView)
ADX and DI
Warning:
Not meant to be used as a stand-alone buy/sell signal.
It regularly provides signals which would not be profitable.
It's meant to be used in conjunction with other analysis.
Think of this as a time-saving tool. Instead of manually checking RSI, DI+/DI-, bbands, distance, etc. this does all of that for you on the fly.
Bullish signal criteria:
- Bollinger Bands must be outside Keltner Channel
- Price near bottom bband
- DI+ increasing
- DI- decreasing
- RSI near bottom and increasing
Bearish signal criteria:
- Bollinger Bands must be outside Keltner Channel
- Price near upper bband
- DI+ decreasing
- DI- increasing
- RSI near upper and decreasing
A single triangle indicates that all 4 criteria are met.
If letters appear with the triangle, this indicates that there was a partial criteria match.
- K : bbands outside Keltner
- B : bbands criteria met
- D : DI criteria met
- R : RSI criteria met
You can use the settings to turn off partial signals. For example:
"Partial 3" means show signals where 3 of the criteria are met.
If you want more insight into the underlying criteria, load these indicators as well:
Bollinger Bands (built-in to TradingView)
Keltner Channels (built-in to TradingView)
RSI (built-in to TradingView)
ADX and DI
Warning:
Not meant to be used as a stand-alone buy/sell signal.
It regularly provides signals which would not be profitable.
It's meant to be used in conjunction with other analysis.
Think of this as a time-saving tool. Instead of manually checking RSI, DI+/DI-, bbands, distance, etc. this does all of that for you on the fly.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun das Script auch andere Trader verstehen und prüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden. Die Nutzung dieses Codes in einer Veröffentlichung wird in unseren Hausregeln reguliert. Sie können es als Favoriten auswählen, um es in einem Chart zu verwenden.
Haftungsausschluss
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