This strategy plots on the price chart and opens long or short positions when a weighted score from MACD, Stochastic RSI, RSI, Supertrend and a moving-average crossover exceeds a user-set trigger. Each component has its own weight and candle delay. Entries can
Strategy · Pine Script v5 · On the chart
Double RSI [Alorse]
Double RSI is a momentum strategy that calculates RSI on the current bar and a multi-timeframe RSI.
GitHub stars330on the repository
Pine versionv5runs as is
Lines of code30
Settings5inputs
LicenceNone statedfile: MPL-2.0
Last update2 months ago25 Aug 2026
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
30 lines of Pine Script v5 from strategies/momentum/Double RSI.pine, published under MPL-2.0 (file header). 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/
// © alorse
//@version=5
strategy(title='Double RSI [Alorse]', overlay=true, pyramiding=0, currency=currency.USD, default_qty_type=strategy.percent_of_equity, initial_capital=1000, default_qty_value=10, commission_type=strategy.commission.percent, commission_value=0.01)
rsiGroup = 'RSI'
len = input.int(14, minval=1, title='Length', group=rsiGroup)
src = input.source(close, 'Source', group=rsiGroup)
rsi = ta.rsi(src, len)
multiGroup = 'Multi Timeframe RSI'
resA = input.timeframe(title='Timeframe', defval='15', group=multiGroup)
mRsi = request.security(syminfo.tickerid, resA, ta.rsi(src, len))
tpGroup = 'Take Profit'
useTP = input.bool(false, title='╔══════ Enable ══════╗', group=tpGroup)
TPPercent = input.float(1.2, step=0.1, title='Percent', group=tpGroup) * 0.01
longTP = strategy.position_avg_price * (1 + TPPercent)
shortTP = strategy.position_avg_price * (1 - TPPercent)
// Strategy
buy = ta.crossover(rsi, 30) and mRsi < 35
sell = ta.crossunder(rsi, 70) and mRsi > 65
strategy.entry('Long', strategy.long, when=buy)
strategy.exit('Exit', 'Long', stop=na, limit=longTP)
strategy.entry('Short', strategy.short, when=sell)
strategy.exit('Exit', 'Short', stop=na, limit=shortTP)
Overview
Long entries trigger on RSI crossover above 30 when multi-timeframe RSI is below 35. Short entries trigger on RSI crossover below 70 when multi-timeframe RSI is above 65. Positions enter on the price chart with take-profit exits set to a percentage of average price. No stop loss applies by default. Settings allow changes to RSI length, source, multi-timeframe, take-profit enable, and percentage. It draws signals directly on the price chart.
- Double RSI confirmation
- Multi Timeframe RSI
- Crossover signals
- Take Profit exits
- Momentum strategy
Details
Published by
Alorse on GitHub
Type
Strategy, Pine Script v5
Draws
On the price chart
Category
Oscillators & momentum
Markets
Any symbol
Timeframes
M15-H1
Risk Notes
- The strategy enters trades without a stop loss
Topics
pinescriptpinescript-indicatorspinescript-strategiestrading-strategiestradingviewtradingview-alerttradingview-strategy
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Length | int | 14 | len |
| Source | source | close | src |
| Timeframe | timeframe | 15 | resA |
| ╔══════ Enable ══════╗ | bool | false | useTP |
| Percent | float | 1.2 | TPPercent |
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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