OPEN-SOURCE SCRIPT
Volatility Reversion Bands Pro [JOAT]
VOLATILITY REVERSION BANDS PRO [JOAT]
A two-layer reversion envelope: inner Bollinger band for the normal volatility envelope, outer ATR-extended band for the extreme envelope. Signals only fire when price has reached the outer ring — the inner band is context, the outer band is the trigger. The result is a clean mean-reversion engine that respects the difference between "stretched" and "actually stretched".
Two envelopes, one principle
Reversion bands using stdev alone collapse in low-volatility regimes (too many false signals) and explode in high-volatility regimes (signals come too late). The ATR extension on top of stdev fixes both: ATR adds a constant-floor protection in quiet markets and scales the outer band proportionally in loud ones.
Strong vs weak signals
Two signal tiers from a single channel-ratio read (close position within the outer band, normalised 0–1):
A signal cooldown suppresses same-side repetition; an exhaustion arrow prints when N consecutive bars (default 3) all live in the outer-band zone — a configurable escalating-glyph string ("^", "^^", "^^^"…) makes the run length visible at a glance.
Volatility regime classification
Independent of signals, the script classifies the current volatility regime by comparing current stdev to its own rolling average over a long lookback (default 100 bars):
Background tinting (toggleable, transparency-controlled) paints the chart by regime so the trader can see at a glance whether the current environment is suitable for reversion. This is the "do not fight the tape" filter — when the background is hot, every reversion signal is lower-conviction by definition.
Visual system
A locked Plasma palette (yellow bull, magenta bear, violet mid) on a deep-void background gives the chart a distinctive look without competing with price action.
Dashboard
Monospaced table, positionable to any of nine corners, with togglable legend footer. Rows surface current basis, inner band values, outer reversion band values, channel ratio %, stdev / avgStdev ratio, regime label, last signal direction with age, and an exhaustion run counter.
Alerts
Four alert conditions, each independently controllable:
How to read it
Two reads, in order of conviction:
In a High regime, treat strong signals as cautionary at best — the bars are coloured by ratio for a reason; the gradient will tell you when one side is dominating.
Suggested settings
Defaults (length 20, stdev mult 2.0, ATR mult 1.5) are tuned to 1H–4H on liquid markets — the classical Bollinger settings plus a 1.5-ATR outer cushion. For 5m–15m, drop length to 14 and ATR multiplier to 1.0. For daily and above, raise length to 50 and ATR multiplier to 2.0. The regime thresholds (low 1.0×, high 2.0× of the long-run stdev average) are conservative — tighten the bands if your instrument is unusually quiet.
Originality / what's reused
Bollinger Bands and ATR are public-domain primitives. The implementation — the outer-band = inner-band ± ATR construction, the channel-ratio bar gradient, the regime classifier with auto-tinted background, the exhaustion-arrow consecutive-bar run logic, the weak/strong signal tiering, and the dashboard's monospaced regime-aware layout — is JOAT-original and tuned together. No third-party code reused.
Open source
Published open-source under the default Mozilla Public License 2.0. Section-headed source, tooltips on every input, helper functions documented inline. The band engine, the regime classifier, the exhaustion logic, and the dashboard are independent modules — fork or extend any single one without reading the whole file.
Limitations
Reversion bands are a counter-trend tool by construction. In sustained one-sided moves the outer band will be repeatedly touched without producing a profitable reversion — the High regime tint and the exhaustion-arrow run logic both exist to warn you when you are in this state. Signals are confirmed on bar close (non-repainting), so an intra-bar wick into the outer band that gets reabsorbed will not fire.
—
-made with passion by jackofalltrades
A two-layer reversion envelope: inner Bollinger band for the normal volatility envelope, outer ATR-extended band for the extreme envelope. Signals only fire when price has reached the outer ring — the inner band is context, the outer band is the trigger. The result is a clean mean-reversion engine that respects the difference between "stretched" and "actually stretched".
Two envelopes, one principle
- Inner band — classic Bollinger: basis (SMA or EMA) ± stdev × multiplier. The familiar 20-period, 2-sigma defaults are preserved.
- Outer reversion band — the outer envelope extends inner band ± ATR × multiplier. This is the band that triggers signals. Setting the ATR multiplier high makes signals rarer but deeper; setting it low makes them frequent and shallower.
Reversion bands using stdev alone collapse in low-volatility regimes (too many false signals) and explode in high-volatility regimes (signals come too late). The ATR extension on top of stdev fixes both: ATR adds a constant-floor protection in quiet markets and scales the outer band proportionally in loud ones.
Strong vs weak signals
Two signal tiers from a single channel-ratio read (close position within the outer band, normalised 0–1):
- Strong signals — fire on the outer band itself (ratio ≤ 0 or ≥ 1). The high-conviction reversion read.
- Weak signals — fire when ratio reaches a configurable near-band threshold (default 0.10 / 0.90). The "approaching outer band" read — useful for traders who want earlier hints. Easily disabled.
A signal cooldown suppresses same-side repetition; an exhaustion arrow prints when N consecutive bars (default 3) all live in the outer-band zone — a configurable escalating-glyph string ("^", "^^", "^^^"…) makes the run length visible at a glance.
Volatility regime classification
Independent of signals, the script classifies the current volatility regime by comparing current stdev to its own rolling average over a long lookback (default 100 bars):
- Low regime — stdev / avgStdev below the low threshold (default 1.0×). Reversion is more reliable here.
- High regime — above the high threshold (default 2.0×). Reversion is less reliable here; trends become dominant.
- Normal regime — in between. Default mode.
Background tinting (toggleable, transparency-controlled) paints the chart by regime so the trader can see at a glance whether the current environment is suitable for reversion. This is the "do not fight the tape" filter — when the background is hot, every reversion signal is lower-conviction by definition.
Visual system
- Bar gradient — bars are coloured by their position-in-band ratio (bull → mid → bear via plasma palette). At a glance you can see where price is sitting in the channel without reading the value.
- Inner band fill — toggleable shoulder fill between BB and outer reversal bands with configurable transparency.
- Inner BB lines and basis line are each independently toggleable for traders who want a minimalist or full envelope view.
- Signal label style — Glyph (compact), Text (verbose), or Both.
A locked Plasma palette (yellow bull, magenta bear, violet mid) on a deep-void background gives the chart a distinctive look without competing with price action.
Dashboard
Monospaced table, positionable to any of nine corners, with togglable legend footer. Rows surface current basis, inner band values, outer reversion band values, channel ratio %, stdev / avgStdev ratio, regime label, last signal direction with age, and an exhaustion run counter.
Alerts
Four alert conditions, each independently controllable:
- Strong Long / Short (outer band touch reversion)
- Weak Long / Short (near-band threshold)
- Vol Regime Change
- Exhaustion Arrow (consecutive bars in outer-band zone)
How to read it
Two reads, in order of conviction:
- Strong signal in a Low or Normal regime — the script's intended sweet spot. The outer band has been touched, price is statistically far from its mean, and the volatility environment supports the idea of mean-reversion.
- Exhaustion arrow — when 3+ bars sit in the outer band, you usually have either a genuine breakout (the bands themselves will start to expand) or an exhaustion (the next reversal candle will be the signal). Either way, the next move is meaningful.
In a High regime, treat strong signals as cautionary at best — the bars are coloured by ratio for a reason; the gradient will tell you when one side is dominating.
Suggested settings
Defaults (length 20, stdev mult 2.0, ATR mult 1.5) are tuned to 1H–4H on liquid markets — the classical Bollinger settings plus a 1.5-ATR outer cushion. For 5m–15m, drop length to 14 and ATR multiplier to 1.0. For daily and above, raise length to 50 and ATR multiplier to 2.0. The regime thresholds (low 1.0×, high 2.0× of the long-run stdev average) are conservative — tighten the bands if your instrument is unusually quiet.
Originality / what's reused
Bollinger Bands and ATR are public-domain primitives. The implementation — the outer-band = inner-band ± ATR construction, the channel-ratio bar gradient, the regime classifier with auto-tinted background, the exhaustion-arrow consecutive-bar run logic, the weak/strong signal tiering, and the dashboard's monospaced regime-aware layout — is JOAT-original and tuned together. No third-party code reused.
Open source
Published open-source under the default Mozilla Public License 2.0. Section-headed source, tooltips on every input, helper functions documented inline. The band engine, the regime classifier, the exhaustion logic, and the dashboard are independent modules — fork or extend any single one without reading the whole file.
Limitations
Reversion bands are a counter-trend tool by construction. In sustained one-sided moves the outer band will be repeatedly touched without producing a profitable reversion — the High regime tint and the exhaustion-arrow run logic both exist to warn you when you are in this state. Signals are confirmed on bar close (non-repainting), so an intra-bar wick into the outer band that gets reabsorbed will not fire.
—
-made with passion by jackofalltrades
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这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。
开源脚本
秉承TradingView的精神，该脚本的作者将其开源，以便交易者可以查看和验证其功能。向作者致敬！您可以免费使用该脚本，但请记住，重新发布代码须遵守我们的网站规则。
The AI Trading Ecosystem, Built to win trades 📈
Get Full Access 👇
jackofalltrades.vip 🌐
t.me/jackofalltradesvip 🃏
Get Full Access 👇
jackofalltrades.vip 🌐
t.me/jackofalltradesvip 🃏
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。