This trend-following strategy identifies buying opportunities during bullish pullbacks on the price chart. It defines a bull market when the 50-period simple moving average trades above the 200-period moving average. Long entries trigger when the RSI drops bel
Strategy · Pine Script v5 · On the chart
RSI Mean Reversion Strategy [Lab]
This strategy executes mean-reversion trades based on RSI overbought and oversold levels directly on the price chart.
GitHub stars4on the repository
Pine versionv5runs as is
Lines of code114
Settings10inputs
LicenceCustom licence
Last update11 months ago17 Nov 2025
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 Strategy [Lab] generates long signals when the RSI crosses back above the oversold boundary and short signals when it crosses below the overbought boundary. An optional simple moving average acts as a trend filter to trade only in the direction of the dominant trend. Risk management features percentage-of-equity position sizing, ATR-based dynamic stop losses, risk-reward take-profit targets, and optional exits when the RSI crosses the 50 midline.
- RSI overbought and oversold mean-reversion signals
- Optional SMA trend direction filter
- ATR-based dynamic stop loss and profit targets
- Equity percentage position sizing
- Optional RSI 50 midline exit condition
Details
Published by
mitchell-917 on GitHub
Type
Strategy, Pine Script v5
Draws
On the price chart
Category
Mean reversion, Oscillators & momentum, Moving averages, Trend
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 | 14 | rsiLen |
| Overbought Level | float | 70.0 | obLevel |
| Oversold Level | float | 30.0 | osLevel |
| Source | source | close | src |
| Use Trend Filter (MA) | bool | true | useMaFilter |
| Filter MA Length | int | 200 | maLen |
| Risk % of Equity per Trade | float | 1.0 | riskPct |
| Stop Loss ATR Multiplier | float | 1.5 | slAtrMult |
| Take Profit R:R | float | 1.5 | tpRR |
| Also Exit When RSI Crosses Midline (50) | bool | true | useMidlineExit |
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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