By Keel Research Team · Updated May 12, 2026
The oversold screener finds Hyperliquid perpetuals trading deep in the bottom of their recent range with MACD slope starting to turn up. Candidates for a mean-reversion bounce — names that have been beaten down and are showing the first signs of stabilization.
The Oversold Recovery screen looks for two things together: an asset that is deeply oversold by its own recent range, and a momentum indicator (MACD slope) that has started to inflect upward. X-axis: mean-reversion percentile — the bottom 25% are the most deeply oversold relative to the cohort. Y-axis: MACD slope at the 50th+ percentile — the move toward less-negative or positive slope is what flags "starting to recover" rather than "still falling." Z-axis: relative volume at the 50th+ percentile, a participation filter so we’re not catching low-volume drift. The combination surfaces HL perps where the dump may be near exhausted and a bounce is plausible — not "buy and hold" signals, but short-horizon mean-reversion candidates. Crypto behaves differently from equities here: funding regimes and forced-liquidation cascades drive most oversold moves, and recoveries are typically faster and sharper.
The screen below is pre-loaded with the Oversold Recovery preset. Adjust signals, thresholds, and timeframe inline — your changes update the cohort in real time. Share or backtest the resulting state directly from the toolbar.
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Oversold is a relative term — an asset is well below its recent typical range. On Hyperliquid perpetuals it often follows a liquidation cascade, a funding-rate flush, or a broader risk-off move. Unlike equities, oversold conditions in crypto can persist or deepen quickly, which is why we combine with a momentum-improvement signal.
Price alone can keep falling. MACD slope captures whether the rate of decline is decelerating — the precondition for a reversal. A deeply oversold asset with MACD slope still turning down is a falling knife; one with MACD slope turning up is a recovery candidate.
Mean-reversion in crypto often plays out in hours, not days. The screen surfaces candidates but does not tell you when to exit — a 5-10% bounce can vanish overnight if the broader regime stays risk-off. Position sizing and explicit exit rules matter more here than in trending setups.
Market data refreshes hourly. The screen recomputes percentile rankings, thresholds, and qualifying cohorts on each refresh. Funding rates update on the same hourly cadence as Hyperliquid’s native funding settlement.
Often yes — deeply oversold perps frequently have negative funding (shorts paying longs), which actually pays you to hold long. Add funding_pct as the Z-axis to see funding alongside the bounce signal, or use the Dip + Unfunded preset for a stricter low-funding filter.
Yes. Open the screen, click "Backtest in Keel," and the current state — signals, thresholds, universe, timeframe — passes into a Keel workspace. From there, you can run a full backtest with realistic fees, slippage, and funding modeled, then optimize and deploy live.
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