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
Composite Price Stats
Composite Price Stats is a trend-following overlay strategy that evaluates statistical metrics on price components.
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code24
Settings0inputs
LicenceMIT
Last update4 months ago6 Jun 2026
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 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
24 lines of Pine Script v5 from apps/server/src/pine-corpus/composite_price_stats.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.
//@version=5
strategy("Composite Price Stats", overlay=true)
base = hlc3
rangeScore = ta.tr()
cumRange = ta.cum(rangeScore)
sumRange = ta.sum(rangeScore, 14)
varianceScore = ta.variance(base, 20)
deviationScore = ta.dev(base, 20)
adxScore = ta.adx(14)
signScore = math.sign(ta.roc(base, 5))
powerScore = math.pow(math.abs(signScore), 2)
avgPrice = math.avg(hl2, ohlc4, hlcc4)
plot(avgPrice)
longCondition = ta.crossover(base, ta.sma(base, 20)) and adxScore > 15 and cumRange > sumRange and powerScore >= 0
shortCondition = ta.crossunder(base, ta.sma(base, 20)) and adxScore > 15 and varianceScore >= 0 and deviationScore >= 0
if (longCondition)
strategy.entry("Long", strategy.long)
if (shortCondition)
strategy.entry("Short", strategy.short)
Overview
Composite Price Stats calculates cumulative true range, variance, deviation, and ADX on hlc3 price data, while plotting an averaged price series. Long entries trigger when hlc3 crosses above its 20-period simple moving average with ADX greater than 15 and cumulative true range above its 14-period sum. Short entries occur when hlc3 crosses below its 20-period SMA with ADX above 15. The strategy contains no risk management controls, such as stop-loss or take-profit rules.
- Composite price statistics calculation
- ADX trend strength filtering
- SMA crossover trade entries
- Average price series overlay
Details
Published by
Snappni on GitHub
Type
Draws
On the price chart
Category
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- The strategy enters trades without a stop loss
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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