This Indicator shows the Absolute Rate of Change in correlation to its Moving Average. Values over 3 (gray dotted line) can savely be considered as a breakout; values over 4.5 got a high mean-reverting chance (red dotted line).
This Indicator can be used in all timeframes, however, i recommend to use it <30m, when you want search for meaningful Mean-Reverting Signals.
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make the Indicator Levels generic
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Drawing negative Threshhold-Lines, hence Mean-Reversion can happen in both directions
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Better plotting
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Visual updates
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small tweaks
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- Updated to Version 5 - Choose Colors - Choose Levels - Better default values