This strategy trades on the price chart using multiple indicators. It enters long positions when price dips meet conditions on Bollinger Bands 40 and 20, RSI, MFI, volume and other thresholds. It exits at custom ROI profit levels based on RSI or after timeout
Strategy · Pine Script v4 · On the chart
BB+RSI+OBV
This strategy combines Bollinger Bands, the Relative Strength Index (RSI), and On-Balance Volume (OBV) to generate trade signals directly on the price chart.
GitHub stars106on the repository
Pine versionv4older, still runs
Lines of code23
Settings2inputs
LicenceGPL-3.0
Last update2 years ago18 Sep 2024
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
23 lines of Pine Script v4 from BB+RSI+OBV.pine, published under GPL-3.0. Keep the author's credit and licence lines when you reuse it.
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © atakhadivi
//@version=4
strategy("BB+RSI+OBV", overlay=true)
src = close
obv = cum(sign(change(src)) * volume)
// plot(obv, color=#3A6CA8, title="OnBalanceVolume")
source = close
length = input(20, minval=1)
mult = input(2.0, minval=0.001, maxval=50)
basis = sma(source, length)
dev = mult * stdev(source, length)
upper = basis + dev
lower = basis - dev
buyEntry = source > basis and rsi(close, 14) > 50 and obv[1] < obv
buyExit = source < lower
sellEntry = source < basis and rsi(close, 14) < 50 and obv[1] > obv
sellExit = source > upper
strategy.entry("BBandLE", strategy.long, stop=lower, oca_name="BollingerBands", oca_type=strategy.oca.cancel, comment="BBandLE", when=buyEntry)
strategy.exit(id='BBandLE', when=buyExit)
strategy.entry("BBandSE", strategy.short, stop=upper, oca_name="BollingerBands", oca_type=strategy.oca.cancel, comment="BBandSE", when=sellEntry)
strategy.exit(id='BBandSE', when=sellExit)
Expand (25 lines)
Overview
Long entries trigger when price is above the middle SMA band, RSI is over 50, and OBV is rising. Short entries trigger when price is below the middle band, RSI is under 50, and OBV is falling. Exits occur when price crosses outer band thresholds. Settings allow adjusting the Bollinger Bands length and standard deviation multiplier.
- Bollinger Bands with RSI and OBV momentum filters
- OBV direction confirmation for entry signals
- Outer band exit triggers for position closing
- Configurable band length and standard deviation multiplier
Details
Published by
hasnocool on GitHub
Code credit
atakhadivi, as written in the script's header
Type
Strategy, Pine Script v4
Draws
On the price chart
Category
Volatility & bands, Oscillators & momentum, Volume, Moving averages
Markets
Crypto
Timeframes
M15-H1
Risk Notes
- The strategy enters trades without a stop loss
File
Topics
analysisbtcusdtcryptocurrencydatapandaspythonsimulationtradingtradingview
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| length | int | 20 | length |
| mult | float | 2.0 | mult |
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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