7-RSI strategy: 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

181 lines of Pine Script v4 from 7-RSI strategy.pine, published under GPL-3.0. Keep the author's credit and licence lines when you reuse it.

7-RSI strategy.pine

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © rrolik66
//@version=4
strategy(title="7-RSI strategy", overlay=true, default_qty_type=strategy.percent_of_equity, default_qty_value=5, currency=currency.USD)
// inputs
src = input(close, "Source RSI", type = input.source)
bot_res = input(title="Bot period", type=input.resolution, defval="1")
srcin_bot = input(ohlc4, "Source Bot", type = input.source)
src_bot = security(syminfo.tickerid, bot_res, srcin_bot)
tradeDirection = input(title="Trade Direction", type=input.string,
     options=["Long Bot", "Short Bot"], defval="Long Bot")
rsi1_res = input(title="RSI-1 period", type=input.resolution, defval="1", group="indicators")
rsi1_Len = input(14, minval=1, title="RSI-1 Length", group="indicators")
rsi2_res = input(title="RSI-2 period", type=input.resolution, defval="5", group="indicators")
rsi2_Len = input(14, minval=1, title="RSI-2 Length", group="indicators")
rsi3_res = input(title="RSI-3 period", type=input.resolution, defval="15", group="indicators")
rsi3_Len = input(14, minval=1, title="RSI-3 Length", group="indicators")
rsi4_res = input(title="RSI-4 period", type=input.resolution, defval="30", group="indicators")
rsi4_Len = input(14, minval=1, title="RSI-4 Length", group="indicators")
rsi5_res = input(title="RSI-5 period", type=input.resolution, defval="60", group="indicators")
rsi5_Len = input(14, minval=1, title="RSI-5 Length", group="indicators")
rsi6_res = input(title="RSI-6 period", type=input.resolution, defval="120", group="indicators")
rsi6_Len = input(14, minval=1, title="RSI-6 Length", group="indicators")
rsi7_res = input(title="RSI-7 period", type=input.resolution, defval="1D", group="indicators")
rsi7_Len = input(14, minval=1, title="RSI-7 Length", group="indicators")
longProfitPerc = input(title="Long Bot Take Profit (%)",
     type=input.float, minval=0.0, step=0.05, defval=0.5, group="Long Bot") * 0.01
st_long_orders = input(title="Long Bot Step orders (%)",
     type=input.float, minval=0.0, step=0.1, defval=2.0, group="Long Bot") * 0.01
rsi1_low = input(100, title="RSI-1 <", group="Long Bot")
rsi2_low = input(100, title="RSI-2 <", group="Long Bot")
rsi3_low = input(100, title="RSI-3 <", group="Long Bot")
rsi4_low = input(100, title="RSI-4 <", group="Long Bot")
rsi5_low = input(100, title="RSI-5 <", group="Long Bot")
rsi6_low = input(100, title="RSI-6 <", group="Long Bot")
rsi7_low = input(100, title="RSI-7 <", group="Long Bot")
shortProfitPerc = input(title="Short Bot Take Profit (%)",
     type=input.float, minval=0.0, step=0.05, defval=0.5, group="Short Bot") * 0.01
st_short_orders = input(title="Short Bot Step orders (%)",
     type=input.float, minval=0.0, step=0.1, defval=2.0, group="Short Bot") * 0.01
rsi1_up = input(0, title="RSI-1 >", group="Short Bot")
rsi2_up = input(0, title="RSI-2 >", group="Short Bot")
rsi3_up = input(0, title="RSI-3 >", group="Short Bot")
rsi4_up = input(0, title="RSI-4 >", group="Short Bot")
rsi5_up = input(0, title="RSI-5 >", group="Short Bot")
rsi6_up = input(0, title="RSI-6 >", group="Short Bot")
rsi7_up = input(0, title="RSI-7 >", group="Short Bot")
//indicators
rsi1 = rsi(src, rsi1_Len)
rsi1_sec = security(syminfo.tickerid, rsi1_res, rsi1)
rsi2 = rsi(src, rsi2_Len)
rsi2_sec = security(syminfo.tickerid, rsi2_res, rsi2)
rsi3 = rsi(src, rsi3_Len)
rsi3_sec = security(syminfo.tickerid, rsi3_res, rsi3)
rsi4 = rsi(src, rsi4_Len)
rsi4_sec = security(syminfo.tickerid, rsi4_res, rsi4)
rsi5 = rsi(src, rsi5_Len)
rsi5_sec = security(syminfo.tickerid, rsi5_res, rsi5)
rsi6 = rsi(src, rsi6_Len)
rsi6_sec = security(syminfo.tickerid, rsi6_res, rsi6)
rsi7 = rsi(src, rsi7_Len)
rsi7_sec = security(syminfo.tickerid, rsi7_res, rsi7)
//RSI
rsi1_up_signal = rsi1_sec > rsi1_up
rsi1_low_signal = rsi1_sec < rsi1_low
rsi2_up_signal = rsi2_sec > rsi2_up
rsi2_low_signal = rsi2_sec < rsi2_low
rsi3_up_signal = rsi3_sec > rsi3_up
rsi3_low_signal = rsi3_sec < rsi3_low
rsi4_up_signal = rsi4_sec > rsi4_up
rsi4_low_signal = rsi4_sec < rsi4_low
rsi5_up_signal = rsi5_sec > rsi5_up
rsi5_low_signal = rsi5_sec < rsi5_low
rsi6_up_signal = rsi6_sec > rsi6_up
rsi6_low_signal = rsi6_sec < rsi6_low
rsi7_up_signal = rsi7_sec > rsi7_up
rsi7_low_signal = rsi7_sec < rsi7_low
//Buy & Sell
Buy = rsi1_low_signal and rsi2_low_signal and rsi3_low_signal and rsi4_low_signal and rsi5_low_signal and rsi6_low_signal and rsi7_low_signal
Sell = rsi1_up_signal and rsi2_up_signal and rsi3_up_signal and rsi4_up_signal and rsi5_up_signal and rsi6_up_signal and rsi7_up_signal
// input into trading conditions
longOK  = (tradeDirection == "Long Bot")
shortOK = (tradeDirection == "Short Bot")
// in entry orders price
longEntryPrice1 = src_bot * (1 - (st_long_orders))
longEntryPrice2 = src_bot * (1 - (st_long_orders*2))
longEntryPrice3 = src_bot * (1 - (st_long_orders*3))
longEntryPrice4 = src_bot * (1 - (st_long_orders*4))
longEntryPrice5 = src_bot * (1 - (st_long_orders*5))
longEntryPrice6 = src_bot * (1 - (st_long_orders*6))
longEntryPrice7 = src_bot * (1 - (st_long_orders*7))
longEntryPrice8 = src_bot * (1 - (st_long_orders*8))
longEntryPrice9 = src_bot * (1 - (st_long_orders*9))
longEntryPrice10 = src_bot * (1 - (st_long_orders*10))
longEntryPrice11 = src_bot * (1 - (st_long_orders*11))
longEntryPrice12 = src_bot * (1 - (st_long_orders*12))
longEntryPrice13 = src_bot * (1 - (st_long_orders*13))
longEntryPrice14 = src_bot * (1 - (st_long_orders*14))
longEntryPrice15 = src_bot * (1 - (st_long_orders*15))
longEntryPrice16 = src_bot * (1 - (st_long_orders*16))
longEntryPrice17 = src_bot * (1 - (st_long_orders*17))
longEntryPrice18 = src_bot * (1 - (st_long_orders*18))
longEntryPrice19 = src_bot * (1 - (st_long_orders*19))
shortEntryPrice1 = src_bot * (1 + st_short_orders)
shortEntryPrice2 = src_bot * (1 + (st_short_orders*2))
shortEntryPrice3 = src_bot * (1 + (st_short_orders*3))
shortEntryPrice4 = src_bot * (1 + (st_short_orders*4))
shortEntryPrice5 = src_bot * (1 + (st_short_orders*5))
shortEntryPrice6 = src_bot * (1 + (st_short_orders*6))
shortEntryPrice7 = src_bot * (1 + (st_short_orders*7))
shortEntryPrice8 = src_bot * (1 + (st_short_orders*8))
shortEntryPrice9 = src_bot * (1 + (st_short_orders*9))
shortEntryPrice10 = src_bot * (1 + (st_short_orders*10))
shortEntryPrice11 = src_bot * (1 + (st_short_orders*11))
shortEntryPrice12 = src_bot * (1 + (st_short_orders*12))
shortEntryPrice13 = src_bot * (1 + (st_short_orders*13))
shortEntryPrice14 = src_bot * (1 + (st_short_orders*14))
shortEntryPrice15 = src_bot * (1 + (st_short_orders*15))
shortEntryPrice16 = src_bot * (1 + (st_short_orders*16))
shortEntryPrice17 = src_bot * (1 + (st_short_orders*17))
shortEntryPrice18 = src_bot * (1 + (st_short_orders*18))
shortEntryPrice19 = src_bot * (1 + (st_short_orders*19))
// take profit price
longExitPrice  = strategy.position_avg_price * (1 + longProfitPerc)
shortExitPrice = strategy.position_avg_price * (1 - shortProfitPerc)
// take profit values for confirmation
plot(series=(strategy.position_size > 0) ? longExitPrice : na,
     color=color.green, style=plot.style_circles,
     linewidth=3, title="Long Take Profit")
plot(series=(strategy.position_size < 0) ? shortExitPrice : na,
     color=color.red, style=plot.style_circles,
     linewidth=3, title="Short Take Profit")
// entry orders
if (strategy.position_size == 0)
    strategy.order(id="Long0", long=true, limit=src_bot, when=longOK and Buy)
    strategy.order(id="Long1", long=true, limit=longEntryPrice1, when=longOK and Buy)
    strategy.order(id="Long2", long=true, limit=longEntryPrice2, when=longOK and Buy)
    strategy.order(id="Long3", long=true, limit=longEntryPrice3, when=longOK and Buy)
    strategy.order(id="Long4", long=true, limit=longEntryPrice4, when=longOK and Buy)
    strategy.order(id="Long5", long=true, limit=longEntryPrice5, when=longOK and Buy)
    strategy.order(id="Long6", long=true, limit=longEntryPrice6, when=longOK and Buy)
    strategy.order(id="Long7", long=true, limit=longEntryPrice7, when=longOK and Buy)
    strategy.order(id="Long8", long=true, limit=longEntryPrice8, when=longOK and Buy)
    strategy.order(id="Long9", long=true, limit=longEntryPrice9, when=longOK and Buy)
    strategy.order(id="Long10", long=true, limit=longEntryPrice10, when=longOK and Buy)
    strategy.order(id="Long11", long=true, limit=longEntryPrice11, when=longOK and Buy)
    strategy.order(id="Long12", long=true, limit=longEntryPrice12, when=longOK and Buy)
    strategy.order(id="Long13", long=true, limit=longEntryPrice13, when=longOK and Buy)
    strategy.order(id="Long14", long=true, limit=longEntryPrice14, when=longOK and Buy)
    strategy.order(id="Long15", long=true, limit=longEntryPrice15, when=longOK and Buy)
    strategy.order(id="Long16", long=true, limit=longEntryPrice16, when=longOK and Buy)
    strategy.order(id="Long17", long=true, limit=longEntryPrice17, when=longOK and Buy)
    strategy.order(id="Long18", long=true, limit=longEntryPrice18, when=longOK and Buy)
    strategy.order(id="Long19", long=true, limit=longEntryPrice19, when=longOK and Buy)
if (strategy.position_size == 0)
    strategy.order(id="Short0", long=false, limit=src_bot, when=shortOK and Sell)
    strategy.order(id="Short1", long=false, limit=shortEntryPrice1, when=shortOK and Sell)
    strategy.order(id="Short2", long=false, limit=shortEntryPrice2, when=shortOK and Sell)
    strategy.order(id="Short3", long=false, limit=shortEntryPrice3, when=shortOK and Sell)
    strategy.order(id="Short4", long=false, limit=shortEntryPrice4, when=shortOK and Sell)
    strategy.order(id="Short5", long=false, limit=shortEntryPrice5, when=shortOK and Sell)
    strategy.order(id="Short6", long=false, limit=shortEntryPrice6, when=shortOK and Sell)
    strategy.order(id="Short7", long=false, limit=shortEntryPrice7, when=shortOK and Sell)
    strategy.order(id="Short8", long=false, limit=shortEntryPrice8, when=shortOK and Sell)
    strategy.order(id="Short9", long=false, limit=shortEntryPrice9, when=shortOK and Sell)
    strategy.order(id="Short10", long=false, limit=shortEntryPrice10, when=shortOK and Sell)
    strategy.order(id="Short11", long=false, limit=shortEntryPrice11, when=shortOK and Sell)
    strategy.order(id="Short12", long=false, limit=shortEntryPrice12, when=shortOK and Sell)
    strategy.order(id="Short13", long=false, limit=shortEntryPrice13, when=shortOK and Sell)
    strategy.order(id="Short14", long=false, limit=shortEntryPrice14, when=shortOK and Sell)
    strategy.order(id="Short15", long=false, limit=shortEntryPrice15, when=shortOK and Sell)
    strategy.order(id="Short16", long=false, limit=shortEntryPrice16, when=shortOK and Sell)
    strategy.order(id="Short17", long=false, limit=shortEntryPrice17, when=shortOK and Sell)
    strategy.order(id="Short18", long=false, limit=shortEntryPrice18, when=shortOK and Sell)
    strategy.order(id="Short19", long=false, limit=shortEntryPrice19, when=shortOK and Sell)
// exit position based on take profit price
if (strategy.position_size > 0)
    strategy.order(id="exit_Long", long=false, limit=longExitPrice, qty=strategy.position_size)
if (strategy.position_size < 0)
    strategy.order(id="exit_Short", long=true, limit=shortExitPrice, qty=abs(strategy.position_size))
Expand (206 lines)

Overview

The user chooses a long or short bot. Entries depend on every RSI meeting a threshold, while a percentage take profit closes the trade. Step-order percentages and a five percent equity size are configurable. There is no stop loss by default, and the supplied RSI limits start wide enough that the filters do little until the user tightens them.

Seven multi-timeframe RSI filters
Long or short bot direction
Percentage take-profit exits
Stepped order spacing inputs
Five percent equity sizing

Details

Published by

hasnocool on GitHub

Code credit

rrolik66, as written in the script's header

Type

Strategy, Pine Script v4

Draws

On the price chart

Markets

Any symbol

Timeframes

Any timeframe

Risk Notes

The strategy enters trades without a stop loss

File

7-RSI strategy.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
Source RSI	`source`	`close`	`src`
Bot period	`timeframe`	`1`	`bot_res`
Source Bot	`source`	`ohlc4`	`srcin_bot`
Trade Direction	`string`	`Long Bot`	`tradeDirection`
RSI-1 period	`timeframe`	`1`	`rsi1_res`
RSI-1 Length	`int`	`14`	`rsi1_Len`
RSI-2 period	`timeframe`	`5`	`rsi2_res`
RSI-2 Length	`int`	`14`	`rsi2_Len`
RSI-3 period	`timeframe`	`15`	`rsi3_res`
RSI-3 Length	`int`	`14`	`rsi3_Len`
RSI-4 period	`timeframe`	`30`	`rsi4_res`
RSI-4 Length	`int`	`14`	`rsi4_Len`

Show all 36 settings

Setting	Type	Default	Variable
RSI-5 period	`timeframe`	`60`	`rsi5_res`
RSI-5 Length	`int`	`14`	`rsi5_Len`
RSI-6 period	`timeframe`	`120`	`rsi6_res`
RSI-6 Length	`int`	`14`	`rsi6_Len`
RSI-7 period	`timeframe`	`1D`	`rsi7_res`
RSI-7 Length	`int`	`14`	`rsi7_Len`
Long Bot Take Profit (%)	`float`	`0.5`	`longProfitPerc`
Long Bot Step orders (%)	`float`	`2.0`	`st_long_orders`
RSI-1 <	`int`	`100`	`rsi1_low`
RSI-2 <	`int`	`100`	`rsi2_low`
RSI-3 <	`int`	`100`	`rsi3_low`
RSI-4 <	`int`	`100`	`rsi4_low`
RSI-5 <	`int`	`100`	`rsi5_low`
RSI-6 <	`int`	`100`	`rsi6_low`
RSI-7 <	`int`	`100`	`rsi7_low`
Short Bot Take Profit (%)	`float`	`0.5`	`shortProfitPerc`
Short Bot Step orders (%)	`float`	`2.0`	`st_short_orders`
RSI-1 >	`int`	`0`	`rsi1_up`
RSI-2 >	`int`	`0`	`rsi2_up`
RSI-3 >	`int`	`0`	`rsi3_up`
RSI-4 >	`int`	`0`	`rsi4_up`
RSI-5 >	`int`	`0`	`rsi5_up`
RSI-6 >	`int`	`0`	`rsi6_up`
RSI-7 >	`int`	`0`	`rsi7_up`

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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