🦎 CHAMELEON v1.0.0 — Relative-Value / Pairs (Ratio Mean-Reversion)

Trade the spread between two coins, not the market. When ETH gets expensive relative to BTC (or SOL vs ETH), the ratio stretches — and ratios revert far more reliably than outright prices. Chameleon measures how stretched a pair's ratio is (z-score) and bets on the snap-back.

Why this strategy exists

Correlated majors trade as a pack, but their ratios oscillate around a mean. A 3-sigma ETH/BTC extension is a much cleaner edge than guessing ETH's absolute direction — the pair's correlation does the work. This is the first fleet agent to trade relative value rather than a single asset's trend, funding, or order flow.

Single-position note: a textbook pairs trade is two legs (long one, short the other) for true market-neutrality. The Senpi runtime is single-position, so Chameleon instead takes a directional bet on the high-beta leg in the reversion direction. It captures most of the reversion edge without needing spread-level position management.

CRITICAL RULES

RULE 1: The z-score is the gate

For each pair (numerator/denominator), Chameleon computes the latest ratio's z-score vs its mean/std over lookbackBars 1h candles. Entry requires |z| >= zEntryMin (default 2.0). No extension, no trade.

RULE 2: Which leg, which direction

It trades the configured high-beta leg (the more volatile asset — ETH in ETH/BTC, SOL in SOL/ETH). Direction profits from reversion:

• z high (numerator rich): leg == numerator → SHORT; leg == denominator → LONG
• z low (numerator cheap): leg == numerator → LONG; leg == denominator → SHORT