This is a mean reversion indicator that anticipates a local trend reversion. Basically, it is a channel with the mid-line serving as a moving mean baseline. Each of the two curves run up and down within this channel bouncing off from the top and bottom bounds. Touching the bounds serves as an indication of a local trend reversal. The reversal signal is stronger when there exists a resonance (symmetry) in the two curves. The background histogram shows a Karobein oscillator that contributes support or resistance for the signal.
Informacje o Wersji
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Minor fix.
Informacje o Wersji
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Added repainting/non-repainting modes. Minor fixes.
Hi thanks for sharing this! What is the other indicator you are using on this chart that is overlaid?
ZemoGTradingGroup
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Amazing script!!
ARZONDUST
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Sir this is literally the best indicator i have come across on this platform. i have tears in my eyes. thank you so so so much for sharing this with everyone. Really grateful to have people like you on tradingview. Thank you very much.
Arju91
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@ARZONDUST, brother can you please share your strategy? How you plan your trade with the help of this indicator? What to make of the zigzag lines?
fearthelime
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I love this indicator. I edited the code and added length 2400. But now when I select 2400 for my length there's an error:
Mean Reversion indicator close 2400: Invalid value of the 'resolution' argument ('2400') in the 'security' function