3 Indicator Strategy (StochRSI,…: Free TradingView Strategy (Pine Script)

Add It to Your TradingView Chart

1Copy the scriptPress Copy script above, or the copy button on the code below.
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

135 lines of Pine Script v5 from 3 Indicator Strategy (StochRSI, MFI & EMA) With Safety Orders.pine, published under GPL-3.0. Keep the author's credit and licence lines when you reuse it.

3 Indicator Strategy (StochRSI, MFI & EMA) With Safety Orders.pine

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © ggekko21
//@version=5
strategy("3 Indicator Strategy (StochRSI, MFI & EMA) With Safety Orders", shorttitle="StochRSI MFI EMA With Safety Orders", overlay=true, max_labels_count=500)
bal_group = "Balance/Risk Settings"
trade_group = "Trade Settings"
long_or_shorts = input.string(defval = "Both", title = "Long/Short", options = ["Longs Only", "Shorts Only", "Both"], group=trade_group)
// Balance & Risk inputs
starting_balance = input.float(defval=10000.0, title="Starting Balance", tooltip="The starting balance for the strategy", group=bal_group)
risk_per_trade = input.float(defval=1.0, minval = 0.01, maxval = 100, title="Risk Per Trade", tooltip="Risk per trade as a percentage of the equity", group=bal_group)
// TP/SL inputs
tpsl_group = "Take Profit / Stop Loss Settings"
tp_sl_type = input.string(defval = "Pips", title="Take Profit/Stop Loss Type", options = ["Pips", "Base Value", "Opposite Signal"], tooltip = "The type of TP/SL used to close the position.", group=tpsl_group)
rr_ratio = input.float(defval = 1.0, minval = 0.1, maxval = 10.0, title="Risk Reward Ratio", group=tpsl_group)
tpsl = input.float(defval = 10.0, minval = 0.1, maxval = 1000000, title="Min Profit/Loss to Close Trade", group=tpsl_group)
tpsl_percentage = input.float(defval = 1.0, minval = 0.01, maxval = 100, title = "Take Profit/Stop Loss Target Percentage", group=tpsl_group)
long_tp = input.float(1000, title="Long Take Profit (mintick)", group=tpsl_group)
long_sl = input.float(2000, title="Long Stop Loss (mintick)", group=tpsl_group)
short_tp = input.float(1000, title="Short Take Profit (mintick)", group=tpsl_group)
short_sl = input.float(2000, title="Short Stop Loss (mintick)", group=tpsl_group)
// Safety Order inputs
safety_group = "Safety Order Settings"
// First safety order price deviation.
safety_order_percent = input.float(defval = 2, title = "Safety Order Percent", group=safety_group, tooltip = "Percentage of price deviation to open the first safety order.")
// What increments do you want the safety order to increase by?
safety_order_mul = input.float(defval = 1, minval = 1, maxval = 10, title = "Safety Order Multiplier", group=safety_group, tooltip = "Multiplies the current position size for each safety order.")
// How many safety order steps?
safety_order_steps = input.int(defval = 5, minval = 1, maxval = 10, title = "Safety Order Max Steps", group=safety_group, tooltip = "Maximum number of safety orders before the trade is a loss.")
src = input.source(defval = close, title = "Source", group = "Strategy Settings")
// ==================================================================================================================== //
// ============================================= StochRSI ============================================================= //
// ==================================================================================================================== //
StochRSI_group = "Stochastic RSI Settings"
StochRSI_kvalue = input.int(1, "K", minval=1, group=StochRSI_group)
StochRSI_dvalue = input.int(1, "D", minval=1, group=StochRSI_group)
lengthRSI = input.int(100, "RSI Length", minval=1, group=StochRSI_group)
lengthStoch = input.int(100, "Stochastic Length", minval=1, group=StochRSI_group)
StochRSI_long = input.float(20, minval = 0, maxval = 50, title = "Stochastic RSI Long Signal", group=StochRSI_group)
StochRSI_short = input.float(80, minval = 50, maxval = 100, title = "Stochastic RSI Short Signal", group=StochRSI_group)
rsi1 = ta.rsi(src, lengthRSI)
kvalue = ta.sma(ta.stoch(rsi1, rsi1, rsi1, lengthStoch), StochRSI_kvalue)
stochrsi_d = ta.sma(kvalue, StochRSI_dvalue)
// ==================================================================================================================== //
// =============================================== MFI ================================================================ //
// ==================================================================================================================== //
MFI_length = input.int(title="MFI Length", defval=30, minval=1, maxval=2000, group="Money Flow Index Settings")
MFI = ta.mfi(src, MFI_length)
MFI_long = input.float(20, minval = 0, maxval = 50, title = "MFI Long Signal", group="Money Flow Index Settings")
MFI_short = input.float(80, minval = 50, maxval = 100, title = "MFI Short Signal", group="Money Flow Index Settings")
// EMA Indicator
EMA_length = input.int(100, title="EMA Length", group = "EMA Settings")
EMA_indicator = ta.ema(src, EMA_length)
// ==================================================================================================================== //
// ============================================ Apply Strategy ======================================================== //
// ==================================================================================================================== //
stochrsi_long = stochrsi_d < StochRSI_long
stochrsi_short = stochrsi_d > StochRSI_short
mfi_long = MFI < MFI_long
mfi_short = MFI > MFI_short
ema_long = close < EMA_indicator
ema_short = close > EMA_indicator
long_condition = stochrsi_long and mfi_long and ema_long
short_condition = stochrsi_short and mfi_short and ema_short
// ==================================================================================================================== //
// ========================================== Apply Safety Orders ===================================================== //
// ==================================================================================================================== //
varip float current_balance = starting_balance
varip float order_size = ((risk_per_trade/100) * current_balance)/open
varip int current_step = 0
varip float price_entry = close
upnl_percentage = (strategy.openprofit/math.abs(strategy.position_avg_price*strategy.position_size))*100
// Make sure strategy doesn't duplicate orders
if long_or_shorts == "Longs Only" or long_or_shorts == "Both"
    if long_condition and strategy.position_size == 0
        //label.new(bar_index, high, text=str.tostring(upnl_percentage, format=format.mintick))
        order_size := ((risk_per_trade/100) * current_balance)/open
        strategy.entry("Enter Long", strategy.long, qty=order_size)
        price_entry := close
if long_or_shorts == "Shorts Only" or long_or_shorts == "Both"
    if short_condition and strategy.position_size == 0
        //label.new(bar_index, high, text=str.tostring(upnl_percentage, format=format.mintick))
    
        order_size := ((risk_per_trade/100) * current_balance)/open
        strategy.entry("Enter Short", strategy.short, qty=order_size)
        price_entry := close
    
    
// Enter Safety Orders Here
if upnl_percentage <= -safety_order_percent
    //if current_step < safety_order_steps
    // Enter safety order here
    order_qty = math.abs(strategy.position_size)// * safety_order_mul
    //order_size := (((risk_per_trade/100) * current_balance)/open)*safety_order_mul*current_step
    order_size := (((risk_per_trade/100) * strategy.equity)/open)*safety_order_mul
    
    if strategy.position_size > 0 and current_step < safety_order_steps
        strategy.order("Enter Long", strategy.long, qty=order_size)
        current_step := current_step + 1
    if strategy.position_size < 0 and current_step < safety_order_steps
        //label.new(bar_index, high, text=str.tostring(strategy.position_size, format=format.mintick))
        strategy.order("Enter Short", strategy.short, qty=order_size)
        current_step := current_step + 1
    else if current_step >= safety_order_steps
        // Maximum number of safety orders reached, closing position.
        if strategy.position_size > 0
            strategy.close(id="Enter Long")
        if strategy.position_size < 0
            strategy.close(id="Enter Short")
        current_step := 0
        
// Update Current Balance
if strategy.wintrades != strategy.wintrades[1]
    current_balance := strategy.equity
    if current_step >= safety_order_steps
        current_step := 0
if strategy.losstrades != strategy.losstrades[1]
    current_balance := strategy.equity
    if current_step >= safety_order_steps
        current_step := 0
// Take Profit/Stop Loss Type
if tp_sl_type == "Base Value"
    if strategy.openprofit > tpsl*rr_ratio or strategy.openprofit <= -tpsl
        if strategy.position_size > 0
            strategy.close(id="Enter Long")
        if strategy.position_size < 0
            strategy.close(id="Enter Short")
        current_step := current_step + 1
        
if tp_sl_type == "Pips"
    strategy.exit(id="Exit Long", from_entry="Enter Long", profit=long_tp, loss=long_sl, qty_percent = 100)
    strategy.exit(id="Exit Short", from_entry="Enter Short", profit=short_tp, loss=short_sl, qty_percent = 100)
if tp_sl_type == "Opposite Signal"
    strategy.close(id="Enter Long", when = short_condition and strategy.position_size > 0)
    strategy.close(id="Enter Short", when =  long_condition and strategy.position_size < 0)
Expand (167 lines)

Overview

Longs use the lower oscillator thresholds and shorts use the upper ones, with direction limited to longs, shorts, or both. Exits use pips, a base value, or the opposite signal, with a risk-reward ratio and separate mintick targets. Size follows a percentage of equity, and safety orders add size after a percentage price deviation. Signals can change on the live bar.

Stochastic RSI long and short thresholds
MFI length and signal levels
EMA length filter
Safety orders with size multiplier
Configurable take-profit and stop-loss modes

Details

Published by

hasnocool on GitHub

Code credit

ggekko21, as written in the script's header

Type

Strategy, Pine Script v5

Draws

On the price chart

Markets

Any symbol

Timeframes

Any timeframe

Risk Notes

Signals can change on the live bar or after it closes (repainting)
The strategy can add several entries in the same direction

File

3 Indicator Strategy (StochRSI, MFI & EMA) With Safety Orders.pine

Repository

github.com/hasnocool/tradingview-pine-scripts. See its other scripts in the library

Topics

analysisbtcusdtcryptocurrencydatapandaspythonsimulationtradingtradingview

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

Setting	Type	Default	Variable
Long/Short	`string`	`Both`	`long_or_shorts`
Starting Balance	`float`	`10000.0`	`starting_balance`
Risk Per Trade	`float`	`1.0`	`risk_per_trade`
Take Profit/Stop Loss Type	`string`	`Pips`	`tp_sl_type`
Risk Reward Ratio	`float`	`1.0`	`rr_ratio`
Min Profit/Loss to Close Trade	`float`	`10.0`	`tpsl`
Take Profit/Stop Loss Target Percentage	`float`	`1.0`	`tpsl_percentage`
Long Take Profit (mintick)	`float`	`1000`	`long_tp`
Long Stop Loss (mintick)	`float`	`2000`	`long_sl`
Short Take Profit (mintick)	`float`	`1000`	`short_tp`
Short Stop Loss (mintick)	`float`	`2000`	`short_sl`
Safety Order Percent	`float`	`2`	`safety_order_percent`

Show all 25 settings

Setting	Type	Default	Variable
Safety Order Multiplier	`float`	`1`	`safety_order_mul`
Safety Order Max Steps	`int`	`5`	`safety_order_steps`
Source	`source`	`close`	`src`
K	`int`	`1`	`StochRSI_kvalue`
D	`int`	`1`	`StochRSI_dvalue`
RSI Length	`int`	`100`	`lengthRSI`
Stochastic Length	`int`	`100`	`lengthStoch`
Stochastic RSI Long Signal	`float`	`20`	`StochRSI_long`
Stochastic RSI Short Signal	`float`	`80`	`StochRSI_short`
MFI Length	`int`	`30`	`MFI_length`
MFI Long Signal	`float`	`20`	`MFI_long`
MFI Short Signal	`float`	`80`	`MFI_short`
EMA Length	`int`	`100`	`EMA_length`

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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