Mean Reversion Strategy is an overlay strategy that identifies pullbacks using a long-term EMA, RSI, and candlestick patterns. It generates long signals when a bullish engulfing candle forms below the EMA while RSI is oversold, and short signals when a bearish
Strategy · Pine Script v5 · On the chart
Volume Spike Reversal
The Volume Spike Reversal strategy identifies potential price reversals driven by high volume activity.
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code61
Settings10inputs
LicenceNone stated
Last update7 months ago4 Mar 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
Volume Spike Reversal triggers long entries when a volume spike occurs while price is below a 20-period simple moving average, combined with oversold RSI readings and bullish candlestick confirmation. Short entries occur under opposite conditions when price is above the moving average and RSI is overbought. Positions use dynamic stop losses based on Average True Range and take-profit targets derived from a user-defined risk-to-reward ratio. It plots signals, an SMA line, and spike highlights on the main price chart.
- Volume spike detection via moving average multiplier
- Optional RSI overbought and oversold filter
- Candlestick pattern confirmation options
- Dynamic ATR-based stop loss calculation
- Configurable risk-to-reward take-profit target
Details
Published by
Basant1Saini on GitHub
Type
Strategy, Pine Script v5
Draws
On the price chart
Category
Volume, Oscillators & momentum, Mean reversion, Candlestick patterns
Markets
Stocks, Forex, Crypto
Timeframes
M15-H1, H4 and above
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 |
|---|---|---|---|
| Volume MA Length | int | 20 | volLen |
| Volume Spike Multiplier | float | 2.5 | volSpike |
| RSI Length | int | 14 | rsiLen |
| RSI Overbought | float | 70 | rsiOB |
| RSI Oversold | float | 30 | rsiOS |
| Use RSI Extreme Filter | bool | true | useRSI |
| Candle Confirmation | string | Reversal Candle | candleType |
| ATR Length | int | 14 | atrLen |
| ATR Multiplier (SL) | float | 2.0 | atrMult |
| Risk:Reward | float | 2.5 | rrRatio |
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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