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EMA Target & Trigger

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Shows distance to mean and overbought/oversold signals.

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TradingView Connect

TradingView Link: https://www.tradingview.com/script/GJyCvXfc-EMA-Target-Trigger/

$7.83  /  0.00076 Ƀ

This little-known indicator is one of a kind. This is one of my favorite mean reversion tools and works great on any chart. It favors the higher timeframes but will work on any. The plot always wants to return to the line. The further from the line, the bigger the return. Breaks above or below the line often indicate a trend reversal. I also added an RSI to shade in areas where it might start to break.

Next update will also shade based on distance but isn’t necessary. You can build entire strategies for locating good charts and trading them with this simple tool. Be on the lookout for my chart overlay of a similar tool to accompany this one.

Strategy Stats

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TensorTom's Stratega

Welcome to my stratega workshop. Each of my strategies are special in their own way. I’ve learned so much about quantitative finance the past few years. I think it shows in some of the scripts I’ve made. That said, they’re not all perfect. There are a few that repaint under certain conditions. Where applicable, I will make it known in the descriptions.

I’m not longer affiliated with TLAW and all my subs are now conducted here. You can always get in touch with me via Pinebot chat, my shop, the help desk, etc. I hope to take your trading to the next level.

Strategy Stats

Net Profit:
Total Trades:
Percent Profitable:
Profit Factor:
Max Drawdown:
Average Trade:
Avg # Bars in Trades:
Backtested Symbol:
Backtested Timeframe:

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