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
Reversal Confidence Strategy
Calculates a reversal confidence score combining Bollinger Band overextension, RSI exhaustion, and price distance from a exponential moving average.
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code77
Settings5inputs
LicenceNone stated
Last update9 months ago14 Jan 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
The strategy overlays VWAP, EMA, and Bollinger Bands directly on the price chart. Long signals trigger when price crosses back above the lower Bollinger Band under low RSI conditions with adequate confidence, while short signals execute above the upper band with high RSI. Positions exit when price crosses the VWAP line. There is no predefined stop loss rule.
- Reversal confidence score based on RSI, Bollinger Bands, and EMA
- VWAP mean-reversion exit condition
- On-chart label displays showing confidence percentage at entry
- Adjustable confidence threshold and indicator parameters
Details
Published by
knectardev on GitHub
Type
Draws
On the price chart
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- The strategy enters trades without a stop loss
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| EMA Length | int | 20 | emaLen |
| RSI Length | int | 14 | rsiLen |
| BB Length | int | 20 | bbLen |
| BB Multiplier | float | 2.0 | bbMult |
| Min Confidence % | int | 60 | confLevel |
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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