OPEN-SOURCE SCRIPT
Elaris Mean Reversion Pro
Elaris Mean Reversion Pro
Elaris Mean Reversion Pro is a multi-factor mean reversion indicator designed to help traders identify situations where price has moved significantly away from its statistical mean and may be entering a potential reversion phase.
The indicator combines adaptive deviation bands, volatility measurements, momentum filters, market regime analysis, and optional higher-timeframe confirmation to provide a structured framework for analyzing stretched market conditions.
Unlike simple overbought and oversold tools, Elaris Mean Reversion Pro allows users to customize how extremes are measured through Z-Score, ATR-based, or hybrid deviation models while incorporating optional confirmation layers such as RSI, MFI, volume, ADX, and higher-timeframe trend filters.
Key Features
• Multiple mean calculation methods including EMA, SMA, RMA, WMA, VWMA, and HMA.
• Three deviation models:
* Z-Score Bands
* ATR Bands
* Hybrid Bands
• Mean reversion signal engine with multiple confirmation styles:
* Extreme Touch
* Mean Reclaim
* Candle Rejection
• Optional RSI and MFI extreme-condition filters.
• ADX-based market regime filter to help identify environments where mean reversion conditions may be more relevant.
• Optional volume and volatility filters.
• Higher-timeframe confirmation framework.
• Signal quality scoring system.
• Dynamic mean, deviation bands, and reversion zones.
• Built-in dashboard displaying:
* Market state
* Z-Score
* Distance from mean
* Momentum readings
* Regime status
* Higher-timeframe bias
• Alert conditions for:
* Long mean reversion signals
* Short mean reversion signals
* Upper extreme zones
* Lower extreme zones
How It Works
The indicator calculates a central mean and measures how far price has deviated from that mean using statistical or volatility-based methods.
When price reaches an extreme deviation zone, the indicator evaluates additional confirmation factors such as candle behavior, momentum conditions, volatility, volume, and trend regime before generating a signal.
Signals are intended to highlight potential mean reversion conditions and should be evaluated alongside the trader's own market analysis and risk management process.
Non-Repainting
This indicator uses confirmed bar logic and higher-timeframe requests with lookahead disabled. Signals are generated using closed-bar information and do not intentionally repaint historical signals.
Notes
Mean reversion techniques may behave differently across various market conditions. Strong directional trends, high-impact news events, and volatility expansions can influence market behavior and should always be considered when interpreting indicator outputs.
This tool is designed for market analysis and educational purposes only and does not constitute financial advice.
Elaris Mean Reversion Pro is a multi-factor mean reversion indicator designed to help traders identify situations where price has moved significantly away from its statistical mean and may be entering a potential reversion phase.
The indicator combines adaptive deviation bands, volatility measurements, momentum filters, market regime analysis, and optional higher-timeframe confirmation to provide a structured framework for analyzing stretched market conditions.
Unlike simple overbought and oversold tools, Elaris Mean Reversion Pro allows users to customize how extremes are measured through Z-Score, ATR-based, or hybrid deviation models while incorporating optional confirmation layers such as RSI, MFI, volume, ADX, and higher-timeframe trend filters.
Key Features
• Multiple mean calculation methods including EMA, SMA, RMA, WMA, VWMA, and HMA.
• Three deviation models:
* Z-Score Bands
* ATR Bands
* Hybrid Bands
• Mean reversion signal engine with multiple confirmation styles:
* Extreme Touch
* Mean Reclaim
* Candle Rejection
• Optional RSI and MFI extreme-condition filters.
• ADX-based market regime filter to help identify environments where mean reversion conditions may be more relevant.
• Optional volume and volatility filters.
• Higher-timeframe confirmation framework.
• Signal quality scoring system.
• Dynamic mean, deviation bands, and reversion zones.
• Built-in dashboard displaying:
* Market state
* Z-Score
* Distance from mean
* Momentum readings
* Regime status
* Higher-timeframe bias
• Alert conditions for:
* Long mean reversion signals
* Short mean reversion signals
* Upper extreme zones
* Lower extreme zones
How It Works
The indicator calculates a central mean and measures how far price has deviated from that mean using statistical or volatility-based methods.
When price reaches an extreme deviation zone, the indicator evaluates additional confirmation factors such as candle behavior, momentum conditions, volatility, volume, and trend regime before generating a signal.
Signals are intended to highlight potential mean reversion conditions and should be evaluated alongside the trader's own market analysis and risk management process.
Non-Repainting
This indicator uses confirmed bar logic and higher-timeframe requests with lookahead disabled. Signals are generated using closed-bar information and do not intentionally repaint historical signals.
Notes
Mean reversion techniques may behave differently across various market conditions. Strong directional trends, high-impact news events, and volatility expansions can influence market behavior and should always be considered when interpreting indicator outputs.
This tool is designed for market analysis and educational purposes only and does not constitute financial advice.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.