Bollinger Bands and RSI Mix with…: 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

80 lines of Pine Script v4 from Bollinger Bands and RSI mix with DCA.pine, published under GPL-3.0. Keep the author's credit and licence lines when you reuse it.

Bollinger Bands and RSI mix with DCA.pine

// © lagobrian23
//@version=4
strategy(title = 'Bollinger Bands and RSI mix with DCA', shorttitle = 'BB/RSI with DCA',pyramiding = 20, calc_on_every_tick = true, process_orders_on_close=true,overlay = false )
source=close
smoothK = input(3, "K", minval=1)
smoothD = input(3, "D", minval=1)
lengthRSI = input(14, "RSI Length", minval=1)
lengthStoch = input(14, "Stochastic Length", minval=1)
src = input(close, title="RSI Source")
rsi1 = rsi(src, lengthRSI)
k = sma(stoch(rsi1, rsi1, rsi1, lengthStoch), smoothK)
d = sma(k, smoothD)
// Bollinger Band
length = input(20,title = 'BB lookback length', minval=1)
mult = input(2.0, minval=0.001, maxval=50, title="StdDev")
basis = sma(src, length)
dev = mult * stdev(src, length)
upper = basis + dev
lower = basis - dev
BBval = (src - basis)/dev*30+50
offset = input(0, title = "Offset", type = input.integer, minval = -500, maxval = 500)
mix=(d + BBval)/2
//plot
//plot(k, "K", color=#606060)
plot(BBval, "BBval", color=#872323, offset = offset)
plot(d, "D", color=#FF6A00)
h0 = hline(80, "Upper Band", color=#606060)
h1 = hline(20, "Lower Band", color=#606060)
plot(mix, "MIX", color=#888888, linewidth=3)
//background MIX
bgcolor(mix < 20 ? color.green : color.white, transp=50)
bgcolor(mix > 80 ? color.red : color.white, transp=50)
// Choosing the date range
fromMonth = input(defval = 1,    title = "From Month",      type = input.integer, minval = 1, maxval = 12)
fromDay   = input(defval = 1,    title = "From Day",        type = input.integer, minval = 1, maxval = 31)
fromYear  = input(defval = 2020, title = "From Year",       type = input.integer, minval = 1970)
toMonth = input(defval = 10,    title = "To Month",      type = input.integer, minval = 1, maxval = 12)
toDay   = input(defval = 1,    title = "To Day",        type = input.integer, minval = 1, maxval = 31)
toYear  = input(defval = 2020, title = "To Year",       type = input.integer, minval = 1970)
start     = timestamp(fromYear, fromMonth, fromDay, 00, 00)        // backtest start window
finish    = timestamp(toYear, toMonth, toDay, 23, 59)        // backtest finish window
window()  => time >= start and time <= finish ? true : false
// Initializing the strategy paraeters
P = input(defval = 1, title = 'Amount (P)' , type = input.integer, minval = 1, maxval = 100)
X = input(defval = 2, title = '% Price drop for consecutive entries(X)', type = input.float, minval = 1, maxval = 100)
B_tp = input(defval = 3, title = '% Level for Take Profit (B)', type = input.float , minval = 1, maxval = 100)
D_sl = input(defval = 4, title = '% Level for Stop Loss (D)', type = input.float, minval = 1, maxval = 100)
A = input(defval = 4, title = 'Max consecutive entries (A)', type = input.integer, minval = 2, maxval = 20)
Z = input(defval = 1, title = 'Z', type = input.float , minval = 0, maxval = 10)
P2 = input(defval = 0, title = 'Amount (P2)' , type = input.float, minval = 0, maxval = 100)
// Declaring key DCA variables
entry_price = 0.0
entry_price := na(entry_price[1]) ? na : entry_price[1]
new_entry = 0.0
// Implementing the strategy
longEntry = crossover(mix,20)
exitLongs = crossunder(mix,80)
if(longEntry)
    entry_price := close
    strategy.entry('main_LE', strategy.long, P, when = window() and longEntry)
// close all if exit conditions are met
// Consecutive entries upto A times
strategy.risk.max_intraday_filled_orders(A)
main_stop = strategy.position_avg_price - strategy.position_avg_price*(D_sl/100)
main_takeprofit = strategy.position_avg_price + strategy.position_avg_price*(B_tp/100)
slCondition = close <= main_stop
tpCondition = close >= main_takeprofit
exitConditions = exitLongs or slCondition or tpCondition
//Dollar-Cost-Averaging
// Enter long whenever price goes down X%: amount set to (P+Y)*Z
newAmount = ceil(Z*(P + P2))
// calcualte DCA price 
dcaCond = strategy.opentrades < A and strategy.opentrades > 0
if(dcaCond  and not exitConditions)
    new_entry := entry_price - ((X/100)*entry_price)
    strategy.entry('consec_LE', strategy.long, newAmount, limit = new_entry, when = window())
    entry_price := new_entry
// The main trade is closed only when the  main exit conditions are satisfied
strategy.close_all(exitConditions)
Expand (93 lines)

Overview

Long positions are entered when the MIX line crosses above the oversold threshold of 20. The strategy utilizes a dollar-cost averaging approach, placing additional entries when price drops by a specified percentage up to a maximum entry count. Key settings allow customization of oscillator lengths, band standard deviations, DCA spacing, and profit targets. The strategy repaints on live bars due to tick-level calculations.

Composite MIX oscillator combining Stochastic RSI and Bollinger Bands
Overbought and oversold background highlighting
Dollar-cost averaging order execution framework
Configurable date range backtesting window

Details

Published by

hasnocool on GitHub

Code credit

lagobrian23, as written in the script's header

Type

Strategy, Pine Script v4

Draws

Separate pane below the chart

Markets

Crypto

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
The strategy enters trades without a stop loss

File

Bollinger Bands and RSI mix with DCA.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
K	`int`	`3`	`smoothK`
D	`int`	`3`	`smoothD`
RSI Length	`int`	`14`	`lengthRSI`
Stochastic Length	`int`	`14`	`lengthStoch`
RSI Source	`source`	`close`	`src`
BB lookback length	`int`	`20`	`length`
StdDev	`float`	`2.0`	`mult`
Offset	`int`	`0`	`offset`
From Month	`int`	`1`	`fromMonth`
From Day	`int`	`1`	`fromDay`
From Year	`int`	`2020`	`fromYear`
To Month	`int`	`10`	`toMonth`

Show all 21 settings

Setting	Type	Default	Variable
To Day	`int`	`1`	`toDay`
To Year	`int`	`2020`	`toYear`
Amount (P)	`int`	`1`	`P`
% Price drop for consecutive entries(X)	`float`	`2`	`X`
% Level for Take Profit (B)	`float`	`3`	`B_tp`
% Level for Stop Loss (D)	`float`	`4`	`D_sl`
Max consecutive entries (A)	`int`	`4`	`A`
Z	`float`	`1`	`Z`
Amount (P2)	`float`	`0`	`P2`

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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