RSI Mean Reversion

// This Pine Script v5 strategy is licensed under the MIT License
// Tested with Backtrex (https://backtrex.com) on 10 years of M1 data
// Anti-repainting: all references use close[1]

//@version=5
strategy("RSI Mean Reversion", overlay=true, default_qty_type=strategy.percent_of_equity, default_qty_value=2)

// Inputs
rsiLen = input.int(14, "RSI Length")
rsiOversold = input.int(30, "RSI Oversold Level")
rsiOverbought = input.int(70, "RSI Overbought Level")
trendLen = input.int(100, "Trend EMA Length")
exitLen = input.int(21, "Exit EMA Length")
maxSLPips = input.float(40, "Max Stop Loss (pips)")

// Indicators (using close[1] to prevent repainting)
rsi = ta.rsi(close[1], rsiLen)
rsiPrev = ta.rsi(close[2], rsiLen)
trendEMA = ta.ema(close[1], trendLen)
exitEMA = ta.ema(close[1], exitLen)

// Pip value
pipValue = syminfo.mintick * 10

// Entry signals
longSignal = rsiPrev < rsiOversold and rsi >= rsiOversold and close[1] > trendEMA
shortSignal = rsiPrev > rsiOverbought and rsi <= rsiOverbought and close[1] < trendEMA

// Find recent swing low/high for stop loss
swingLow = ta.lowest(low[1], 10)
swingHigh = ta.highest(high[1], 10)

// Execute trades
if longSignal
    sl = math.max(swingLow, close - maxSLPips * pipValue)
    strategy.entry("Long", strategy.long)
    strategy.exit("Long SL", "Long", stop=sl)

if shortSignal
    sl = math.min(swingHigh, close + maxSLPips * pipValue)
    strategy.entry("Short", strategy.short)
    strategy.exit("Short SL", "Short", stop=sl)

// Exit at EMA 21 touch
if strategy.position_size > 0 and close[1] >= exitEMA
    strategy.close("Long", comment="EMA Exit")

if strategy.position_size < 0 and close[1] <= exitEMA
    strategy.close("Short", comment="EMA Exit")

// Plots
plot(trendEMA, "Trend EMA 100", color=color.gray, linewidth=2)
plot(exitEMA, "Exit EMA 21", color=color.orange)