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 v6 · On the chart
RSI Mean Reversion (Long Only)
This long-only strategy identifies mean-reversion dip opportunities within established uptrends on daily charts.
GitHub stars4on the repository
Pine versionv6current
Lines of code144
Settings8inputs
LicenceNone stated
Last update5 months ago31 May 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 (Long Only) opens a position when price is trading above a simple moving average and the Relative Strength Index (RSI) crosses back above a specified oversold entry threshold. Trades exit when RSI hits an overbought level or an intraday percentage stop loss is reached. User settings control the trend SMA length, RSI period, entry and exit thresholds, and stop-loss percentage. The script draws overlays and signal markers directly on the price chart.
- Trend filtering using a simple moving average
- Oversold RSI recovery entry trigger
- Overbought RSI target exit condition
- Configurable percentage stop-loss parameter
- Optional bar coloring and signal plots
Details
Published by
Jaden300 on GitHub
Type
Strategy, Pine Script v6
Draws
On the price chart
Category
Mean reversion, Oscillators & momentum, Moving averages
Markets
Stocks
Timeframes
H4 and above
Risk Notes
- The strategy enters trades without a stop loss
Topics
algorithmic-tradingbacktestingstock-markettradingview-ideas
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Start Date | time | timestamp("2021-01-01") | startDate |
| Trend MA (SMA) | int | 100 | trendMa |
| RSI Length | int | 14 | rsiLength |
| RSI Entry Level | float | 40.0 | rsiEntry |
| RSI Exit Level | float | 70.0 | rsiExit |
| Stop Loss % | float | 0.12 | slPct |
| Show Signals | bool | true | showSignals |
| Color Bars | bool | true | colorBars |
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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