by 
This mean-reversion strategy combines multi-timeframe exponential moving averages, Bollinger Bands, and the Relative Strength Index. It generates long and optional short trade signals when price interacts with the Bollinger Bands alongside RSI threshold confir
Strategy · Pine Script v4 · On the chart
Alpy
This strategy overlays a 60-minute Volume Weighted Moving Average with percentage-based upper and lower bands, combined with an RSI oscillator and Williams Fractals.
Repaints
GitHub stars2on the repository
Pine versionv4older, still runs
Lines of code186
Settings3inputs
LicenceNone stated
Last update7 months ago5 Mar 2026
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new strategy, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart. The trades and results appear in the Strategy Tester tab; adjust the settings with the gear icon.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Alpy triggers long entries when price pierces below the lower band and short entries when price exceeds the upper band, filtering signals with RSI extremes and fractal points. Exits target a configurable percentage profit. Because it calculates on every tick and requests higher-timeframe data without offset protections, values can repaint during live execution.
- Higher-timeframe 60-minute VWMA with percentage envelope bands
- Williams Fractal detection for swing identification
- RSI overbought and oversold condition filters
- Configurable target profit percentage exit
- Customizable date window for backtesting
Details
Published by
avatar-lavventura on GitHub
Type
Strategy, Pine Script v4
Draws
On the price chart
Category
Moving averages, Oscillators & momentum, Mean reversion
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- Signals can change on the live bar or after it closes (repainting)
- Reads higher-timeframe data with lookahead on, so the history can show signals that were not there in real time
- The strategy can add several entries in the same direction
- The strategy enters trades without a stop loss
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Short Offset | float | 3.0 | upperBandValue |
| Long Offset | float | 3.0 | lowerBandValue |
| Target Profit % | float | 0.5 | tp |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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