by 
This mean-reversion strategy combines multi-timeframe exponential moving averages, Bollinger Bands, and the Relative Strength Index. It generates long and optional short trade signals when price interacts with the Bollinger Bands alongside RSI threshold confir
Strategy · Pine Script v5 · On the chart
Mean Reversion Trading Bot
This strategy executes mean-reversion trades by combining RSI momentum, Bollinger Bands volatility, dynamic ATR stops, and Exponential Moving Averages for trend filtering.
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code229
Settings19inputs
LicenceNone stated
Last update8 months ago12 Feb 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
Mean Reversion Trading Bot seeks entry opportunities when price reaches extreme Bollinger Band boundaries alongside overbought or oversold RSI levels. Long and short trades can be selectively enabled, with optional volume moving average filtering. Risk management features include ATR-based stop loss and take profit multipliers. The strategy draws directly on the main price chart.
- RSI and Bollinger Bands entry signals
- ATR-based dynamic stop loss and take profit targets
- Dual Exponential Moving Average trend filter
- Optional volume moving average filter
Details
Published by
BenjaminLettner on GitHub
Type
Draws
On the price chart
Markets
Any symbol
Timeframes
Any timeframe
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 |
|---|---|---|---|
| RSI Length | int | 14 | rsi_length |
| RSI Oversold Level | int | 30 | rsi_oversold |
| RSI Overbought Level | int | 70 | rsi_overbought |
| RSI Neutral Low | int | 45 | rsi_neutral_low |
| RSI Neutral High | int | 55 | rsi_neutral_high |
| Bollinger Bands Length | int | 20 | bb_length |
| BB Standard Deviation | float | 2.0 | bb_mult |
| Short EMA | int | 20 | ema_short |
| Long EMA | int | 100 | ema_long |
| ATR Length | int | 14 | atr_length |
| ATR Stop Loss Multiplier | float | 1.5 | atr_mult_sl |
| ATR Take Profit Multiplier | float | 2.0 | atr_mult_tp |
Show all 19 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Max Risk Per Trade (%) | float | 2.0 | max_risk_per_trade |
| Max Drawdown (%) | float | 20.0 | max_drawdown |
| Profit Target (%) | float | 3.0 | profit_target_pct |
| Enable Long Trades | bool | true | enable_long |
| Enable Short Trades | bool | true | enable_short |
| Use Volume Filter | bool | true | use_volume_filter |
| Volume MA Length | int | 20 | volume_ma_length |
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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