This mean-reversion strategy plots Bollinger Bands and a long-term moving average directly on the price chart. It enters trades when price candles penetrate the outer Bollinger Bands beyond a user-defined body percentage, anticipating a price reversal. Entries
Strategy · Pine Script v5 · On the chart
Bollinger Bands Strategy
This strategy generates buy and sell signals based on Bollinger Band crossovers combined with a simple moving average trend filter.
GitHub stars105on the repository
Pine versionv5runs as is
Lines of code35
Settings6inputs
LicenceNone stated
Last update1 year ago30 Jul 2025
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
Bollinger Bands Strategy enters a long position when price crosses above the lower band while trading above the SMA filter line, and enters a short position when price crosses below the upper band while below the SMA filter. Position sizing is calculated dynamically using ATR risk percentage relative to strategy equity. The strategy plots Bollinger Bands and the SMA filter directly on the main chart, but lacks explicit stop-loss orders or profit targets.
- Bollinger Bands crossover signals
- SMA trend confirmation filter
- ATR-based dynamic position sizing
- On-chart indicator overlay plots
Details
Published by
cklose2000 on GitHub
Type
Strategy, Pine Script v5
Draws
On the price chart
Category
Volatility & bands, Moving averages, Mean reversion, Trend
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- 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 |
|---|---|---|---|
| BB Length | int | 20 | length |
| BB StdDev | float | 2.0 | mult |
| Source | source | close | src |
| SMA Filter Length | int | 50 | smaLen |
| Risk % | float | 1.0 | riskPct |
| ATR Length | int | 14 | atrLength |
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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