Created
November 25, 2023 18:35
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Bollinger Mean Reversion [iCodeForBananas]
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| //@version=5 | |
| strategy("Bollinger Mean Reversion [iCodeForBananas]", overlay=true, initial_capital = 5000, default_qty_value = 10, pyramiding = 30, default_qty_type= strategy.percent_of_equity, slippage=1, process_orders_on_close=true) | |
| bbLength = input(45, 'MA length', group = 'Entry') | |
| stdLength = input.float(2, 'Std dev', group = 'Entry') | |
| trailStopMALength = input(80, 'Trail stop EMA length', group = 'Exit') | |
| trailStopMA = ta.ema(close, trailStopMALength) | |
| [middle, upper, lower] = ta.bb(close, bbLength, stdLength) | |
| plot(middle, color=color.yellow) | |
| plot(upper, color=color.yellow) | |
| plot(lower, color=color.yellow) | |
| longEntryCondition = ta.crossover(close, lower) | |
| longExitCondition = ta.crossunder(close, trailStopMA) | |
| if (longEntryCondition) | |
| strategy.entry("LE", strategy.long, comment = "LE") | |
| if (longExitCondition) | |
| strategy.close("LE", 'LX') |
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