PROTECTED SOURCE SCRIPT
TRI Mean Machine
Updated
The Mean Machine plots the evolution of the mean value of that asset since its inception.
By using this indicator we are able to see if a particular market is trading above/below historical mean value.
Moreover, we can use this indicator to anticipate powerful 'Return to the Mean' moves.
Note: Tradingview limits the number of candles we can use on each time frame.
It is possible that the mean value could miss old data.
That is specially true for markets with long history or when we calculate it for intraday time frames.
Credit for this idea goes to Brian Beamish https://www.therationalinvestor.com/
By using this indicator we are able to see if a particular market is trading above/below historical mean value.
Moreover, we can use this indicator to anticipate powerful 'Return to the Mean' moves.
Note: Tradingview limits the number of candles we can use on each time frame.
It is possible that the mean value could miss old data.
That is specially true for markets with long history or when we calculate it for intraday time frames.
Credit for this idea goes to Brian Beamish https://www.therationalinvestor.com/
Release Notes
Deleted the script.Release Notes
This script is no longer valid. If you are a moderator, please disable it.
The working version of this script can be accessed here: https://www.tradingview.com/script/bg3uHoUN-Return-to-the-Mean/
I develop indicators meant to be useful, profitable and good looking.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.