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Reversal Strategy

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Reversal Strategy – Intelligent Mean Reversion

Description: This indicator is designed to identify high-probability market reversals and "dip-buying" opportunities. Instead of relying on a single metric, it uses a confluence scoring system based on 5 technical factors: RSI, Stochastics, Bollinger Bands, Moving Averages, and Price Reversal.
The script calculates a Buy Score (0-5) in real-time. A BUY signal is generated only when the score reaches at least 3/5, confirming that multiple oversold conditions are met simultaneously.

Key Features:

Smart Scoring: Filters out weak signals by requiring confluence from multiple indicators.

Live Dashboard: Displays current indicator values, streaks, and the Buy Score directly on the chart.

Risk Management: Automatically plots Stop Loss and Take Profit levels when a signal is triggered.

Visual Zones: Highlights "Reversal Zones" (background color) when price drops significantly below the threshold.

Best used for: Mean reversion strategies and catching local bottoms in volatile markets.

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