TTM Reversion Bands for ThinkorSwim

BenTen

BenTen

Administrative
Staff
VIP
This indicator is called TTM Reversion Bands, and it's designed for mean reversion trading. When the stock's price is near the reversion bands, it's at an extreme and will generally revert to the mean over time.




thinkScript Code

Code:
# TTM - Reversion Bands
# Assembled by BenTen at useThinkScript.com
# Converted from https://www.tradingview.com/script/JpAQTvZH-UCS-TTM-Reversion-Bands/

input length = 25;
input atrlen = 25;
input mult = 2.5;

def tr = Max(close[1], high) - Min(close[1], low);
def range = tr;

def ma = expAverage(close, length);
def rangema = expAverage(range, atrlen);
def upper = ma + rangema * mult;
def lower = ma - rangema * mult;

plot u = upper;
plot moving = ma;
plot l = lower;

u.setDefaultColor(getColor(0));
l.setDefaultColor(getColor(1));
moving.setDefaultColor(getColor(3));
 
BenTen

BenTen

Administrative
Staff
VIP
@RPrado You would have to make that decision yourself. Test it out and see if the indicator is something you would use on the daily or any other timeframe.
 
T

Trading51

Active member
2019 Donor
Any way to make this a MTF indicator ?
 

Similar threads

Top