2 EMA/SMA + RSI Strategy [Alorse] combines three configurable moving averages with a short-period Relative Strength Index filter. It plots fast, slow, and trend moving averages on the price chart. Long entries trigger when the fast moving average is above the
Strategy · Pine Script v5 · On the chart
Bitfinex Shorts Strat
This strategy calculates a 7-period Relative Strength Index (RSI) on external Bitfinex Bitcoin short position data to execute trades on the price chart.
GitHub stars106on the repository
Pine versionv5runs as is
Lines of code39
Settings8inputs
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
39 lines of Pine Script v5 from Bitfinex Shorts Strat.pine, published under GPL-3.0. Keep the author's credit and licence lines when you reuse it.
//@version=5
strategy("Bitfinex Shorts Strat",
overlay=true,
default_qty_type=strategy.percent_of_equity,
default_qty_value=10, precision=2, initial_capital=1000,
pyramiding=2,
commission_value=0.05)
//Backtest date range
StartDate = input.time(timestamp("01 Jan 2021"), title="Start Date")
EndDate = input.time(timestamp("01 Jan 2024"), title="Start Date")
inDateRange = (time >= StartDate) and (time < EndDate)
symbolInput = input.symbol(title="Bitfinex Short Symbol", defval="BITFINEX:BTCUSDSHORTS")
Shorts = request.security(symbolInput, "", open)
// RSI Input Settings
length = input(title="Length", defval=7, group="RSI Settings" )
overSold = input(title="High Shorts Threshold", defval=75, group="RSI Settings" )
overBought = input(title="Low Shorts Threshold", defval=30, group="RSI Settings" )
// Calculating RSI
vrsi = ta.rsi(Shorts, length)
RSIunder = ta.crossover(vrsi, overSold)
RSIover = ta.crossunder(vrsi, overBought)
// Stop Loss Input Settings
longLossPerc = input.float(title="Long Stop Loss (%)", defval=25, group="Stop Loss Settings") * 0.01
shortLossPerc = input.float(title="Short Stop Loss (%)", defval=25, group="Stop Loss Settings") * 0.01
// Calculating Stop Loss
longStopPrice = strategy.position_avg_price * (1 - longLossPerc)
shortStopPrice = strategy.position_avg_price * (1 + shortLossPerc)
// Strategy Entry
if (not na(vrsi))
if (inDateRange and RSIover)
strategy.entry("LONG", strategy.long, comment="LONG")
if (inDateRange and RSIunder)
strategy.entry("SHORT", strategy.short, comment="SHORT")
// Submit exit orders based on calculated stop loss price
if (strategy.position_size > 0)
strategy.exit(id="LONG STOP", stop=longStopPrice)
if (strategy.position_size < 0)
strategy.exit(id="SHORT STOP", stop=shortStopPrice)
Expand (46 lines)
Overview
Bitfinex Shorts Strat enters a long position when the short-position RSI drops below a low threshold, and enters a short position when it crosses above a high threshold. Trades are protected with percentage-based stop losses, and pyramiding up to two entries is allowed. Main settings adjust the external symbol, RSI period, threshold levels, and stop loss percentages.
- External market sentiment data tracking via security calls
- RSI calculation on Bitfinex BTC short positions
- Threshold crossover entry signals
- Percentage-based stop loss protection
- Customizable backtest date filter
Details
Published by
hasnocool on GitHub
Type
Strategy, Pine Script v5
Draws
On the price chart
Category
Oscillators & momentum
Markets
Crypto
Timeframes
Any timeframe
Risk Notes
- The strategy can add several entries in the same direction
Topics
analysisbtcusdtcryptocurrencydatapandaspythonsimulationtradingtradingview
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Start Date | time | timestamp("01 Jan 2021") | StartDate |
| Start Date | time | timestamp("01 Jan 2024") | EndDate |
| Bitfinex Short Symbol | symbol | BITFINEX:BTCUSDSHORTS | symbolInput |
| Length | int | 7 | length |
| High Shorts Threshold | int | 75 | overSold |
| Low Shorts Threshold | int | 30 | overBought |
| Long Stop Loss (%) | float | 25 | longLossPerc |
| Short Stop Loss (%) | float | 25 | shortLossPerc |
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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