OPEN-SOURCE SCRIPT
Bollinger Bands SMA 20_2 Strategy

Mean reversion strategy using Bollinger Bands (20-period SMA with 2.0 standard deviation bands).
Trade Triggers:
🟢 BUY SIGNAL:
🔴 SELL SIGNAL:
Trade Triggers:
🟢 BUY SIGNAL:
- When: Price crosses above the lower Bollinger Band
- Logic: Price has hit oversold territory and is bouncing back
- Action: Places a long position with stop at the lower band
🔴 SELL SIGNAL:
- When: Price crosses below the upper Bollinger Band
- Logic: Price has hit overbought territory and is pulling back
- Action: Places a short position with stop at the upper band
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.