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
MACD Long Strategy [Alorse]
This strategy enters long when the MACD line crosses above its signal after RSI has been oversold within the last ten bars, and enters short on a MACD cross under after a recent overbought RSI.
GitHub stars330on the repository
Pine versionv5runs as is
Lines of code56
Settings12inputs
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
56 lines of Pine Script v5 from strategies/momentum/MACD Long Strategy [Bunghole].pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
//@version=5
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © Bunghole 2021
strategy(title='MACD Long Strategy [Alorse]', overlay=true, pyramiding=0, currency=currency.USD, default_qty_type=strategy.percent_of_equity, initial_capital=1000, default_qty_value=20, commission_type=strategy.commission.percent, commission_value=0.1)
//// Stoploss and Take Profit Parameters
// Enable Long Strategy
enable_long_strategy = input.bool(true, title='Enable Long Strategy', group='SL/TP For Long Strategy', inline='1')
long_stoploss_value = input.float(defval=50, title='Stoploss %', minval=0.1, group='SL/TP For Long Strategy', inline='2')
long_stoploss_percentage = close * (long_stoploss_value / 100) / syminfo.mintick
long_takeprofit_value = input.float(defval=50, title='Take Profit %', minval=0.1, group='SL/TP For Long Strategy', inline='2')
long_takeprofit_percentage = close * (long_takeprofit_value / 100) / syminfo.mintick
// Enable Short Strategy
enable_short_strategy = input.bool(true, title='Enable Short Strategy', group='SL/TP For Short Strategy', inline='3')
short_stoploss_value = input.float(defval=50, title='Stoploss %', minval=0.1, group='SL/TP For Short Strategy', inline='4')
short_stoploss_percentage = close * (short_stoploss_value / 100) / syminfo.mintick
short_takeprofit_value = input.float(defval=50, title='Take Profit %', minval=0.1, group='SL/TP For Short Strategy', inline='4')
short_takeprofit_percentage = close * (short_takeprofit_value / 100) / syminfo.mintick
//// Indicator Inputs
// RSI
rsi_over_sold = input.int(defval=30, minval=1, title='Over Sold Level', group='RSI')
rsi_over_bought = input.int(defval=70, minval=1, title='Over Bought Level', group='RSI')
rsi_length = input.int(defval=14, minval=1, title='RSI Length', group='RSI')
rsi = ta.rsi(close, rsi_length)
// MACD
fast_ma = input.int(defval=12, minval=1, title='FastMA Length', group='MACD')
slow_ma = input.int(defval=26, minval=1, title='SlowMA Length', group='MACD')
signal_length = input.int(defval=9, minval=1, title='Signal Length', group='MACD')
[macd_line, signal_line, hist_line] = ta.macd(close, fast_ma, slow_ma, signal_length)
//// Strategy
// Creating Long and Short Strategy
was_over_sold = ta.barssince(rsi <= rsi_over_sold) <= 10
was_over_bought = ta.barssince(rsi >= rsi_over_bought) <= 10
crossover_bull = ta.crossover(macd_line, signal_line)
crossover_bear = ta.crossunder(macd_line, signal_line)
buy_signal = was_over_sold and crossover_bull
sell_signal = was_over_bought and crossover_bear
// Long Strategy
if buy_signal and enable_long_strategy
strategy.entry('Long', strategy.long, when=buy_signal, alert_message='Open Long Position')
strategy.exit('Long SL/TP', from_entry='Long', loss=long_stoploss_percentage, profit=long_takeprofit_percentage, alert_message='Your Long SL/TP Limit As Been Triggered.')
strategy.close('Long', when=sell_signal, alert_message='Close Long Position')
// Short Strategy
if sell_signal and enable_short_strategy
strategy.entry('Short', strategy.short, when=sell_signal, alert_message='Open Short Position')
strategy.exit('Short SL/TP', from_entry='Short', loss=short_stoploss_percentage, profit=short_takeprofit_percentage, alert_message='Your Short SL/TP Limit As Been Triggered.')
strategy.close('Short', when=buy_signal, alert_message='Close Short Position')
Overview
Each side can be switched off. Default stop loss and take profit are fifty percent of price, sized in ticks, and the opposite signal also closes the position. Quantity is twenty percent of equity. Signals and exits are applied on the price chart. It does not pyramid.
- MACD signal-line crossover entries
- Ten-bar RSI extreme filter
- Separate long and short stop loss and take profit
- Enable switches for long and short
- Opposite signal closes the open position
Details
Published by
Alorse on GitHub
Code credit
Bunghole 2021, as written in the script's header
Type
Strategy, Pine Script v5
Draws
On the price chart
Category
Oscillators & momentum
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
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 |
|---|---|---|---|
| Enable Long Strategy | bool | true | enable_long_strategy |
| Stoploss % | float | 50 | long_stoploss_value |
| Take Profit % | float | 50 | long_takeprofit_value |
| Enable Short Strategy | bool | true | enable_short_strategy |
| Stoploss % | float | 50 | short_stoploss_value |
| Take Profit % | float | 50 | short_takeprofit_value |
| Over Sold Level | int | 30 | rsi_over_sold |
| Over Bought Level | int | 70 | rsi_over_bought |
| RSI Length | int | 14 | rsi_length |
| FastMA Length | int | 12 | fast_ma |
| SlowMA Length | int | 26 | slow_ma |
| Signal Length | int | 9 | signal_length |
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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