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
Pullback Strategy for Stocks
This long-only strategy identifies pullback opportunities within a broader trend.
GitHub stars7on the repository
Pine versionv5runs as is
Lines of code22
Settings4inputs
LicenceMPL-2.0
Last update1 year ago4 Aug 2025
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
22 lines of Pine Script v5 from Pullback EMA Long - Strategy/pullback_ema.pine, published under MPL-2.0. Keep the author's credit and licence lines when you reuse it.
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © Salih Emin (cerebrux)
//@version=5
strategy('Pullback Strategy for Stocks', overlay=true)
// Variables
longEMA = input(defval=200, title="Long trending EMA")
shortEMA = input(defval=50, title="Short trending EMA")
takeProfit = input(defval=0.30, title="Take Profit distance")
stopLoss = input(defval=0.10, title="Stop Loss distance")
//Calculating the exit price for take profit and stop loss based on our entry
longProfit = strategy.position_avg_price * (1 + takeProfit)
longStop = strategy.position_avg_price * (1 - stopLoss)
if close > ta.ema(close, longEMA) and close < ta.ema(close, shortEMA)
strategy.entry('Enter long', strategy.long)
//for long positions
if strategy.position_size > 0
strategy.exit(id='Close Position', stop=longStop, limit=longProfit)
Overview
Pullback Strategy for Stocks enters a long position when the closing price trades above a long-term exponential moving average while falling below a short-term exponential moving average. Once in a trade, it calculates percentage-based take profit and stop loss target levels relative to the average entry price. The user can adjust both moving average periods and percentage exit thresholds. All calculations and signals overlay directly on the main price chart.
- Dual exponential moving average pullback filter
- Percentage-based take profit target
- Percentage-based stop loss risk management
- Configurable moving average periods
Details
Published by
SynergOps on GitHub
Code credit
Salih Emin (cerebrux), as written in the script's header
Type
Strategy, Pine Script v5
Draws
On the price chart
Category
Trend, Moving averages, Mean reversion
Markets
Stocks
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 |
|---|---|---|---|
| Long trending EMA | int | 200 | longEMA |
| Short trending EMA | int | 50 | shortEMA |
| Take Profit distance | float | 0.30 | takeProfit |
| Stop Loss distance | float | 0.10 | stopLoss |
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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