The Mean Reversion Strategy Template calculates a baseline mean using SMA, EMA, or VWAP alongside upper and lower deviation bands based on standard deviation, ATR, or percentage offsets. It generates long and short entries when price touches, bounces from, or
Strategy · Pine Script v4 · On the chart
Bollinger Bands Winner LITE [Alorse]
This strategy plots Bollinger Bands on the price chart with adjustable length, standard deviation, and offset.
GitHub stars330on the repository
Pine versionv4older, still runs
Lines of code45
Settings8inputs
LicenceNone stated
Last update2 months ago25 Aug 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
Bollinger Bands Winner LITE [Alorse] defines buy and sell zones using candle size percentage and body size thresholds. Long positions enter when the lower zone is breached without conflicting body conditions. Short entries trigger when the upper band is exceeded. Positions close on opposite band touches. Main settings alter band parameters and zone calculations. It draws directly on the chart. The strategy has no built-in stop loss.
- Bollinger Bands
- Mean Reversion
- Zone Entries
- Candle Percentage
- Long Short Strategy
Details
Published by
Alorse on GitHub
Type
Strategy, Pine Script v4
Draws
On the price chart
Category
Mean reversion, Moving averages, Volatility & bands
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- The strategy enters trades without a stop loss
Topics
pinescriptpinescript-indicatorspinescript-strategiestrading-strategiestradingviewtradingview-alerttradingview-strategy
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Version | string | verTxt | version |
| ╔═════ Show Bollinger Bands ═════╗ | bool | true | isBB |
| Source | source | close | src |
| Length | int | 20 | length |
| StdDev | float | 2.0 | mult |
| Offset | int | 0 | offset |
| Show Short entries | bool | false | showShort |
| Candle % below/above the BB | float | 30 | candleper |
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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