What problem does it solve?
It helps you identify mean-reversion equity opportunities by scanning for Connors-style RSI(2) oversold conditions that occur inside confirmed long-term uptrends, so you can focus on potential “buy-the-dip” setups rather than manually checking charts.
Core Features & Use Cases
- Connors RSI(2) mean-reversion screening: Detects short-term oversold reversals (with a deep tier option) specifically where the long-term trend gate is intact.
- Regime and trend safety filters: Applies a risk-on/risk-off regime gate using SPY vs 200DMA (with slope) plus per-ticker trend health checks (price vs 200DMA and 50DMA vs 200DMA).
- Outcome persistence and reliability: Tracks prior signals in a history file and resolves wins/losses against a 5DMA target within a fixed time window to show running win rate.
- Practical execution levels: Computes an ATR-based stop level and a 5DMA-based target level for each candidate, plus a “stuck oversold” section for persistent non-bouncing names.
Quick Start
Run mean-reversion-scan with the standard RSI(2) trigger to list the top currently triggered oversold bounce candidates for liquid US large-cap stocks.