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Strategies

RSI + BB Reversion

Mean Reversion v6. Buys when price < Lower BB & RSI < 30.

Pine Script V6
//@version=6
strategy("RSI + BB Reversion [Codon.pro]", overlay=true, initial_capital=1000, default_qty_type=strategy.percent_of_equity, default_qty_value=100)
rsi_len = input.int(14, "RSI Length")
rsi_oversold = input.int(30, "RSI Oversold Level")
bb_len = input.int(20, "BB Length")
bb_mult = input.float(2.0, "BB Multiplier")
rsi = ta.rsi(close, rsi_len)
[middle, upper, lower] = ta.bb(close, bb_len, bb_mult)
longCondition = close < lower and rsi < rsi_oversold
exitCondition = close > middle
if longCondition
    strategy.entry("Reversion Buy", strategy.long)
if exitCondition
    strategy.close("Reversion Buy")
p1 = plot(upper, color=color.new(color.red, 50))
p2 = plot(lower, color=color.new(color.green, 50))
fill(p1, p2, color=color.new(color.blue, 90))