Alert BB + RSI [Alorse] is a multi-symbol mean-reversion strategy designed for cryptocurrency trading. It evaluates Bollinger Bands and the Relative Strength Index (RSI) across up to 20 user-defined ticker symbols simultaneously. The strategy enters long posit
Strategy · Pine Script v6 · On the chart
RSI Mean Reversion
The strategy identifies mean reversion opportunities using the RSI indicator.
GitHub stars4on the repository
Pine versionv6current
Lines of code36
Settings6inputs
LicenceMIT
Last update2 months ago3 Aug 2026
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 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
36 lines of Pine Script v6 from examples/strategies/02_rsi_mean_reversion.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.
//@version=6
// RSI Mean Reversion — OB/OS Fade — github.com/trugurpala/pinescriptv6
// Author: Ugur Pala · mail@ugurpala.com
strategy("RSI Mean Reversion [trugurpala]",
overlay=true, initial_capital=10000,
default_qty_type=strategy.percent_of_equity, default_qty_value=10,
commission_type=strategy.commission.percent, commission_value=0.1)
// ── Inputs ───────────────────────────────────────────────────────────────────
int rsiLen = input.int(14, "RSI Length", minval=1)
float obLevel = input.float(70, "OB Level", minval=60, maxval=90)
float osLevel = input.float(30, "OS Level", minval=10, maxval=40)
int atrLen = input.int(14, "ATR Length", minval=1)
float slMult = input.float(2.0, "SL Mult", step=0.1)
float tpMult = input.float(1.5, "TP Mult", step=0.1)
// ── Calculations ─────────────────────────────────────────────────────────────
float rsi = ta.rsi(close, rsiLen)
float atrVal = ta.atr(atrLen)
bool longEntry = ta.crossover(rsi, osLevel) and strategy.position_size == 0
bool shortEntry = ta.crossunder(rsi, obLevel) and strategy.position_size == 0
// ── Entries ──────────────────────────────────────────────────────────────────
if longEntry
strategy.entry("Long", strategy.long)
strategy.exit("Long Exit", "Long",
stop=close - slMult * atrVal, limit=close + tpMult * atrVal)
if shortEntry
strategy.entry("Short", strategy.short)
strategy.exit("Short Exit", "Short",
stop=close + slMult * atrVal, limit=close - tpMult * atrVal)
// ── Visuals ──────────────────────────────────────────────────────────────────
plotshape(longEntry, "Long", shape.triangleup, location.belowbar, color.green, size=size.normal)
plotshape(shortEntry, "Short", shape.triangledown, location.abovebar, color.red, size=size.normal)
Overview
RSI Mean Reversion calculates RSI with customizable length and generates long entries on RSI crossover above the oversold level and short entries on crossover below the overbought level. Entries are sized at 10% of equity with 0.1% commissions. Stop loss is placed at 2 times ATR and take profit at 1.5 times ATR, both using default 14-period ATR. Inputs adjust the RSI length, OB and OS levels, ATR length, and SL/TP multipliers. Signals appear as green upward and red downward triangles on the price chart. The strategy has no additional exit rules beyond the initial SL and TP and does not support pyramiding.
- RSI mean reversion
- OB/OS level crosses
- ATR SL/TP exits
- 10% equity positions
- triangle entry markers
Details
Published by
trugurpala on GitHub
Type
Strategy, Pine Script v6
Draws
On the price chart
Category
Mean reversion, Oscillators & momentum, Volatility & bands
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.
Topics
aialgorithmic-tradingclaude-codecodexcoding-agentsgithub-copilotopen-sourcepine-scriptpine-script-v6technical-analysis
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 |
| OB Level | float | 70 | obLevel |
| OS Level | float | 30 | osLevel |
| ATR Length | int | 14 | atrLen |
| SL Mult | float | 2.0 | slMult |
| TP Mult | float | 1.5 | tpMult |
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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