Mean Reversion Breakout MT5
- Indicatori
- Versione: 1.0
- Attivazioni: 10
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Buy and Sell Arrows when price breaks away from mean price.
Sends Alerts –
- On MT5
- To Your Phone
- To Your Email
- Does not repaint.
- Works on any Forex pair, any timeframe.
- 10 Activations allowed so you are free from limitations
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What Is The Meaning Of Mean Reversion?
Mean reversion, or reversion to the mean, is a theory used in Forex Trading which uses the fact that asset price will come back to the mean (or average) price level.
Similarly, therefore, it also breaks away from that price - and this is what this indicator shows - when the price is breaking away from a mean reversion.
How To Trade With The Mean Reversion Breakout Indicator
As with all indicators, you must not take every trade blindly.
First, check there is enough "room" for a profit before the previous structure (high or low). IE when you get a signal (eg buy) the look left to see where the previous swing high is compared to where your entry would be. This would be your Take Profit level. You also look for the previous low for your Stop Loss. If there is a good reward to risk ratio, then it is a good trade to take. BUT REMEMBER - this is Forex and there will always be some losing trades no matter how good the signal is.
Will It Work For You?
Back testing this indicator gave roughly a 70% win rate BUT you should do your own baktesting on the pair, timeframe and time of day when you trade to see if it would work for you.
SETTINGS
Engulphing_Factor
The indicator uses engulphing candles to show momentum away from the mean price. Obviously if price moves quickly (ie within one candle) this is a good indication that it will probably go further.
A lower Engulphing_Factor will give more, but less accurate signals and vice versa.
MRP_ATR_Gap
This is another factor in determining how quickly the price is moving away from the mean. The larger the gap from the Mean Reversion Price (MRP), the faster the movement. (ATR = Average True Range of the last 14 candles.)
A lower MRP_ATR_Gap will give more, but less accurate signals and vice versa.
TimeOfTheDay(from hour)
The hour you want the Indicator to start each day.
TimeOfTheDay(from mins)
The number of minutes past the hour you want the Indicator to start each day.
TimeOfTheDay(to hour)
The hour you want the Indicator to stop each day.
TimeOfTheDay(to min)
The number of minutes past the hour you want the Indicator to stop each day.
Send_Email
The indicator will send an alert to your email (if you have set this up in MT5).
Audible_Alerts
The indicator will give a sound alert and pop-up message in MT5.
Push_Notifications
The indicator will send an alert to your phone (if you have set this up in MT5).
