A mean-reversion strategy that buys when price closes below a Bollinger Band while RSI stays above a floor level, and exits on upper-band breaks combined with RSI or MFI conditions.
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
134 lines of Pine Script v4 from PineScript/Stg_ex_Flawless.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
Three selectable versions exist: the first has no stop loss or take profit, while the second and third add percentage stop and target levels, drawn as lines on the price chart. Full-equity position sizing is the default, so the first version carries open-ended downside.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Version 1 - Doesn't Use SL/TP
bool
true
v1
Version 2 - Uses SL/TP
bool
false
v2
Version 3 - Uses SL/TP
bool
false
v3
Stop Loss %
float
6.604
v2stoploss_input
Take Profit %
float
2.328
v2takeprofit_input
Stop Loss %
float
8.882
v3stoploss_input
Take Profit %
float
2.317
v3takeprofit_input
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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