This trend-following strategy identifies buying opportunities during bullish pullbacks on the price chart. It defines a bull market when the 50-period simple moving average trades above the 200-period moving average. Long entries trigger when the RSI drops bel
Strategy · Pine Script v5 · On the chart
Buy/Sell Position Strategy
The Buy/Sell Position Strategy combines a long-term Exponential Moving Average (EMA) with a short-term Relative Strength Index (RSI) to capture pullbacks in an uptrend.
GitHub stars3on the repository
Pine versionv5runs as is
Lines of code66
Settings3inputs
LicenceNone stated
Last update4 months ago7 Jun 2026
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 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
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Buy/Sell Position Strategy enters a long position on the price chart when the price is above the EMA filter and the short-term RSI drops below a specified oversold threshold. The position is exited when the current close exceeds the previous bar's high. Key settings adjust the EMA length, RSI period, and buy level. Notably, the strategy lacks a stop loss mechanism by default.
- 200-period EMA trend filter
- 2-period RSI oversold entry trigger
- Exit condition based on previous bar high
- State variable tracking single open position
Details
Published by
handiko on GitHub
Type
Strategy, Pine Script v5
Draws
On the price chart
Category
Trend, Oscillators & momentum, Moving averages, Mean reversion
Markets
Stocks
Timeframes
H4 and above, M15-H1
Risk Notes
- The strategy enters trades without a stop loss
Topics
algorithmic-tradingpinescriptpinescript-strategiestrading-strategies
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| MA Length | int | 200 | maLength |
| RSI Length | int | 2 | rsiLength |
| RSI Buy Level | int | 10 | rsiLevel |
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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