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.
- 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
Due to multiple use of security() function required to call other symbols, expect the screener to be slow at certain times
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
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.