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Mean Reversion Horizontal

Version: v.1.0.0.0

Mean Reversion Horizontal

Description

The Mean Reversion indicator accurately identifies market turning points by detecting deviations from the average price, allowing traders to profit from both short-term and long-term market trends and swings. This indicator has 2 levels of deviation from the average which can be adjusted by specifying the percentage of deviation for each of the levels, as well as the ability to visually highlight events of price reaching drawdown or growth levels.

Properties

  • EMA Period [default: 200, range: 1–∞] — EMA period for mean calculation.
  • Threshold % 1 Level [default: 10] — First threshold percentage.
  • Threshold % 2 Level [default: 20] — Second threshold percentage.
  • Brush Background [default: true] — Fill chart background when price reaches drawdown/growth.
  • Color background of price growth — Background color when level rises.
  • Color background of the price drop — Background color when level drops.