This strategy combines Larry Williams' Vix Fix synthetic volatility indicator with Bollinger Bands. It calculates standard and inverted Williams Vix Fix metrics, displaying them as histogram columns with standard deviation bands in a separate pane. Long entrie
Strategy · Pine Script v5 · Own pane
RSI Mean Reversion
This strategy calculates a short-term Relative Strength Index (RSI) oscillator to identify mean-reverting conditions.
GitHub stars4on the repository
Pine versionv5runs as is
Lines of code22
Settings5inputs
LicenceNone stated
Last update8 days ago22 Oct 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
RSI Mean Reversion triggers a long entry when the RSI drops below a customizable oversold threshold and a short entry when it rises above an overbought level. Each trade sets percentage-based stop loss and take profit targets immediately upon entering. Plotted in a separate pane below the price chart, users can adjust the RSI length, oversold or overbought boundary levels, and risk parameters. It functions as a straightforward strategy for fading extreme momentum moves.
- Short-term RSI momentum calculation
- Oversold and overbought entry signals
- Percentage-based stop loss and take profit
- Customizable entry thresholds and RSI length
Details
Published by
latentwill on GitHub
Type
Draws
Separate pane below the chart
Category
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 | 7 | rsi_len |
| Oversold Entry | int | 25 | entry_oversold |
| Overbought Entry | int | 75 | entry_overbought |
| Stop Loss % | float | 1.5 | stop_pct |
| Take Profit % | float | 2.5 | profit_pct |
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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