Strategy description

Intraday mean reversion strategy using Bollinger Bands indicator.

Bollinger Bands are a type of statistical chart characterizing the prices and volatility over time of a financial instrument or commodity, using a formulaic method propounded by John Bollinger in the 1980s.

and 

Mean reversion is a financial term for the assumption that a stock's price will tend to move to the average price over time.

Complete mathematical derivation and information can be found in the below link

long trade initiates when close crosses above lower BB

Exit on target, SL or when close crosses above upper BB. whichever condition occurs first.

short trade initiated when close crosses below upper BB

Exit on target, SL or when close crosses below lower BB. whichever condition occurs first.

Entry time - before 11 AM

exit time - 3 PM