This strategy plots Bollinger Bands on the price chart using an EMA or SMA basis and a matching standard-deviation calculation. It enters long when price crosses back above the lower band and short when price crosses back below the upper band. An optional Intr
Strategy · Pine Script v4 · On the chart
ETHUSDT Binance 3m (Mean Reversion)
A Pine v4 strategy that fades moves away from VWAP.
GitHub stars1on the repository
Pine versionv4older, still runs
Lines of code113
Settings7inputs
LicenceNone stated
Last update4 years ago2 Dec 2021
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
ETHUSDT Binance 3m (Mean Reversion) plots VWAP with percentage bands and opens a long when a green non-doji candle opens below the lower band, or a short when a red candle opens above the upper band. A long exits when the high passes VWAP, and a short exits when the low falls under it. Settings cover band percentages, doji precision, stop-loss percentages and a days-back window. It draws on the price chart.
- Mean-reversion entries outside VWAP bands
- Doji filter with adjustable precision
- Exit on return to VWAP
- Long and short stop-loss percentages
Details
Published by
tseitz on GitHub
Type
Strategy, Pine Script v4
Draws
On the price chart
Category
Volume, Mean reversion
Markets
Crypto
Timeframes
M1-M5
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Max Days Back to Test | int | 30 | daysBackMax |
| Min Days Back to Test | int | 0 | daysBackMin |
| Precision | float | 0.4 | Precision |
| Long Stop Loss % | float | 3 | longStopPerc |
| Short Stop Loss % | float | 4 | shortStopPerc |
| VWAP High % | float | .025 | vwapHighPerc |
| VWAP Low % | float | .014 | vwapLowPerc |
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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