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https://languageofmarkets.com/discipline-and-consistency-in-trading/

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https://www.forexfactory.com/thread/76597-andrews-pitchfork-median-line

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https://www.prorealcode.com/prorealtime-indicators/mean-reversion-channel-mri-indicator/

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//----------------------------------------//
//PRC_Mean reversion channel MRI
//version = 0
//21.11.24
//Iván González @ www.prorealcode.com
//Sharing ProRealTime knowledge
//----------------------------------------//
// inputs
//----------------------------------------//
source=(high+close+low)/3
type=1 //1=SuperSmoother 2=Ehlers EMA 3=Gaussian 4=BandStop 5=SMA 6=EMA 7=RMA
length=200
innermult=1 //inner Channel Multiplier
outermult=2.415 //Outer Channel Multiplier
drawchannel=1
displayzone=1
zonetransp=60
displayline=0
gradsize=0.5
pi=3.1416
mult=pi*innermult
mult2=pi*outermult
//----------------------------------------//
//Aux Supersmoother
//----------------------------------------//
sa1=exp(-sqrt(2)*pi/length)
sb1=2*sa1*cos(sqrt(2)*180/length)
sc3=-pow(sa1,2)
sc2=sb1
sc1=1-sc2-sc3
//----------------------------------------//
//Aux SAK Supersmoother
//----------------------------------------//
cycl=2*180/length
c0=1
c1=0
b0=1
b1=0
b2=0
a1=0
a2=0
alpha=0
beta=0
gamma=0
if type=2 then //Ehlers EMA
alpha=(cos(cycl)+sin(cycl)-1)/cos(cycl)
b0=alpha
a1=1-alpha
elsif type=3 then//Gaussian
beta=2.415*(1-cos(cycl))
alpha=-beta+sqrt((beta*beta)+(2*beta))
c0=alpha*alpha
a1=2*(1-alpha)
a2=-(1-alpha)*(1-alpha)
elsif type=4 then //Bandstop
beta=2.415*(1-cos(cycl))
gamma=1/cos(cycl*2*0.1)
alpha=gamma-sqrt(gamma*gamma-1)
c0=(1+alpha)/2
b1=-2*beta
b2=1
a1=beta*(1+alpha)
a2=-alpha
elsif type=5 then//SMA
c1=1/length
b0=1/length
a1=1
elsif type=6 then//EMA
alpha=2/(length+1)
b0=alpha
a1=1-alpha
elsif type=7 then//RMA
alpha=1/length
b0=alpha
a1=1-alpha
endif
//----------------------------------------//
//Mean Reversion Channel
//----------------------------------------//
condition=0
//Mean Range
if barindex<=3 then
meanrange=sc1*tr+sc2*tr[1]+sc3*tr[2]
else
meanrange=sc1*tr+sc2*meanrange[1]+sc3*meanrange[2]
endif
//Mean Line
if type=1 then
if barindex<=3 then
meanline=sc1*source+sc2*source[1]+sc3*source[2]
else
meanline=sc1*source+sc2*meanline[1]+sc3*meanline[2]
endif
else
if barindex<=length then
meanline=source
else
meanline=(c0*((b0*source)+(b1*source[1]))+b2*source[2])+a1*meanline[1]+a2*meanline[2]-c1*source[length]
endif
endif

//Upper and lower bands
if drawchannel and barindex>length then
mymeanline=meanline
upband1=meanline+meanrange*mult
loband1=meanline-meanrange*mult
upband2=meanline+meanrange*mult2
loband2=meanline-meanrange*mult2
else
mymeanline=undefined
upband1=undefined
loband1=undefined
upband2=undefined
loband2=undefined
endif

//check condition
if close > mymeanline then
upband21=upband2+meanrange*gradsize*4
upband29=upband2-meanrange*gradsize*4
if high>=upband29 and high<upband2 then
condition=1
elsif high>=upband2 and high<upband21 then
condition=2
elsif high>=upband21 then
condition=3
elsif close<=mymeanline+meanrange then
condition=4
else
condition=5
endif
elsif close < mymeanline then
loband21=loband2-meanrange*gradsize*4
loband29=loband2+meanrange*gradsize*4
if low<=loband29 and low>loband2 then
condition=-1
elsif low<=loband2 and low>loband21 then
condition=-2
elsif low<=loband21 then
condition=-3
elsif close>=mymeanline+meanrange then
condition=-4
else
condition=-5
endif
endif
//----------------------------------------//
//Draw channels
//----------------------------------------//
if displayzone and barindex>length then
//Upper channel
upband21=upband2+meanrange*gradsize*4
upband22=upband2+meanrange*gradsize*3
upband23=upband2+meanrange*gradsize*2
upband24=upband2+meanrange*gradsize*1
upband25=upband2+meanrange*gradsize*0
upband26=upband2-meanrange*gradsize*1
upband27=upband2-meanrange*gradsize*2
upband28=upband2-meanrange*gradsize*3
upband29=upband2-meanrange*gradsize*4
//Lower channel
loband21=loband2-meanrange*gradsize*4
loband22=loband2-meanrange*gradsize*3
loband23=loband2-meanrange*gradsize*2
loband24=loband2-meanrange*gradsize*1
loband25=loband2-meanrange*gradsize*0
loband26=loband2+meanrange*gradsize*1
loband27=loband2+meanrange*gradsize*2
loband28=loband2+meanrange*gradsize*3
loband29=loband2+meanrange*gradsize*4
colorbetween(upband21,upband22,255,0,0,zonetransp)
colorbetween(upband22,upband23,255,66,0,zonetransp)
colorbetween(upband23,upband24,255,93,0,zonetransp)
colorbetween(upband24,upband25,255,116,0,zonetransp)
colorbetween(upband25,upband26,255,151,0,zonetransp)
colorbetween(upband26,upband27,255,174,0,zonetransp)
colorbetween(upband27,upband28,255,197,0,zonetransp)
colorbetween(upband28,upband29,255,205,0,zonetransp)

colorbetween(loband21,loband22,255,0,0,zonetransp)
colorbetween(loband22,loband23,255,66,0,zonetransp)
colorbetween(loband23,loband24,255,93,0,zonetransp)
colorbetween(loband24,loband25,255,116,0,zonetransp)
colorbetween(loband25,loband26,255,151,0,zonetransp)
colorbetween(loband26,loband27,255,174,0,zonetransp)
colorbetween(loband27,loband28,255,197,0,zonetransp)
colorbetween(loband28,loband29,255,205,0,zonetransp)
else
//Upper channel
upband21=undefined
upband22=undefined
upband23=undefined
upband24=undefined
upband25=undefined
upband26=undefined
upband27=undefined
upband28=undefined
upband29=undefined
//Lower channel
loband21=undefined
loband22=undefined
loband23=undefined
loband24=undefined
loband25=undefined
loband26=undefined
loband27=undefined
loband28=undefined
loband29=undefined
endif
//----------------------------------------//
//Draw channels
//----------------------------------------//
if islastbarupdate and displayline then
drawsegment(barindex,upband1,barindex+20,upband1)coloured("green")
drawsegment(barindex,loband1,barindex+20,loband1)coloured("green")
drawsegment(barindex,upband2,barindex+20,upband2)coloured("red")
drawsegment(barindex,loband2,barindex+20,loband2)coloured("red")
endif
//----------------------------------------//
return mymeanline as "Mean" coloured("orange")style(line,2),upband1 as "R1" coloured("green")style(point),loband1 as "S1"coloured("green")style(point),upband2 as "R2"coloured("red"),loband2 as "S2" coloured("red")