Matze AbsRoc Level to Mean-Reverting

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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Release Notes: make the Indicator Levels generic
Release Notes: Drawing negative Threshhold-Lines, hence Mean-Reversion can happen in both directions
Release Notes: Better plotting
Release Notes: Visual updates
Open-source script

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.

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