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TRI Mean Machine
Aktualisiert
The Mean Machine plots the evolution of the mean value of that asset since its inception.
By using this indicator we are able to see if a particular market is trading above/below historical mean value.
Moreover, we can use this indicator to anticipate powerful 'Return to the Mean' moves.
Note: Tradingview limits the number of candles we can use on each time frame.
It is possible that the mean value could miss old data.
That is specially true for markets with long history or when we calculate it for intraday time frames.
Credit for this idea goes to Brian Beamish https://www.therationalinvestor.com/
By using this indicator we are able to see if a particular market is trading above/below historical mean value.
Moreover, we can use this indicator to anticipate powerful 'Return to the Mean' moves.
Note: Tradingview limits the number of candles we can use on each time frame.
It is possible that the mean value could miss old data.
That is specially true for markets with long history or when we calculate it for intraday time frames.
Credit for this idea goes to Brian Beamish https://www.therationalinvestor.com/
Versionshinweise
Deleted the script.Versionshinweise
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The working version of this script can be accessed here: https://www.tradingview.com/script/bg3uHoUN-Return-to-the-Mean/
I develop indicators meant to be useful, profitable and good looking.
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