fareidzulkifli

Screener - Mean Reversion Channel

█ OVERVIEW

This is Screener script for Mean Reversion Channel Indicator

█ Description & How To Use

The screener works by scanning through up to 40 symbols and list down symbols that are currently within Overbought/Oversold Zone as defined by Mean Reversion Channel indicator.

The Overbought/Oversold Zone are further categorized and sorted by:
Strong : Indicated by "(Strong)" next to the symbol name
Normal : Indicated by the absence of "(Strong)" or "(Weak)" next to the symbol name
Weak : Indicated by "(Weak)" next to the symbol name

Notes: Refer to chart above to see how the Zone are categorized.
Notes: If the screener displays "Nothing Interesting". It simply means none of the screened assets are within the Overbought/Oversold Zone.

█ Features

- Scan up to 40 symbols at a time (By default, no asset is define. Once configured all the symbols you required, remember to save as default to save you from pain of configuring it again in the future)
- Options to scan by zones
- Custom Timeframe

█ Limitation

Due to multiple use of security() function required to call other symbols, expect the screener to be slow at certain times

█ Disclaimer

Past performance is not an indicator of future results.
My opinions and research are my own and do not constitute financial advice in any way whatsoever.
Nothing published by me constitutes an investment recommendation, nor should any data or Content published by me be relied upon for any investment/trading activities.
I strongly recommends that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions.

Any ideas to further improve this indicator are welcome :)

Credit: QuantNomad for his script idea on custom screener

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Comments

500coins
+14 Reply
thanks for the script!! how do I add assets to the indicator??
+7 Reply
fareidzulkifli alexisnassimoff
@alexisnassimoff, once added to your chart, simply go to the setting (input screen), just find your asset in the boxes provided
+4 Reply
alexisnassimoff fareidzulkifli
@fareidzulkifli, thanks for your kindness
Reply
This is awesome, is their a way to setup alerts so if the screener is running and your mobile you can get an alert on it?
+6 Reply
nice logic!
adding HTF or more time frames will get this nearer to perfect :)

thanks and all the best
+2 Reply
fareidzulkifli combotrading
@combotrading, thanks for the kind words :)

As for your HTF suggestion, the script already allowed user to select their preferred higher TF for screening. Or did u mean something else?
Reply
combotrading fareidzulkifli
@fareidzulkifli, my bad, I was talking about the the non-screener version. the screener gets many alerts about memory limits.
Reply
This publication is now featured in our Editors' Picks: https://www.tradingview.com/scripts/editors-picks/ .
In the name of all TradingView traders, thank you for your valuable contribution to the TradingView community, and congrats!
+2 Reply
fareidzulkifli PineCoders
@PineCoders, Oh wow thankyou! really glad for this
+3 Reply
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