MACD + RSI Strategy [Alorse]: 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

53 lines of Pine Script v4 from strategies/momentum/MACD+RSI.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.

MACD+RSI.pine

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © fredoorse

//@version=4
strategy(title="MACD + RSI Strategy [Alorse]", overlay=true, shorttitle="MACD+RSI STRTG", pyramiding=0, currency=currency.USD, default_qty_type=strategy.percent_of_equity, default_qty_value=100)

src = input(title="Source", type=input.source, defval=close)
// MACD
// Getting inputs
fast_length = input(title="Fast Length", type=input.integer, defval=12, group="MACD")
slow_length = input(title="Slow Length", type=input.integer, defval=26, group="MACD")
signal_length = input(title="Signal Smoothing", type=input.integer, minval = 1, maxval = 50, defval = 9, group="MACD")
sma_source = input(title="Oscillator MA Type", type=input.string, defval="EMA", options=["SMA", "EMA"], group="MACD")
sma_signal = input(title="Signal Line MA Type", type=input.string, defval="EMA", options=["SMA", "EMA"], group="MACD")
// Calculating
fast_ma = sma_source == "SMA" ? sma(src, fast_length) : ema(src, fast_length)
slow_ma = sma_source == "SMA" ? sma(src, slow_length) : ema(src, slow_length)
macd = fast_ma - slow_ma
signal = sma_signal == "SMA" ? sma(macd, signal_length) : ema(macd, signal_length)

// RSI
len = input(14, minval=1, title="Length", group="RSI")
rsi = rsi(src, len)

// Strategy
SL = input(title="Stop Loss %", type=input.integer, defval=99, group="Strategy") * 0.01
TP = input(title="Take Profit %", type=input.integer, defval=10, group="Strategy")
rsiBack = input(title="Check RSI last # candles", type=input.integer, defval=5, group="Strategy")
rsiDown = input(title="RSI over sold level", type=input.integer, defval=30, group="Strategy")
rsiUp = input(title="RSI over bought level", type=input.integer, defval=70, group="Strategy")

wasRsiDown = false
for i = 1 to rsiBack
    if rsi[i] <= rsiDown
        wasRsiDown := true
        break

wasRsiUp = false
for i = 1 to rsiBack
    if rsi[i] >= rsiUp
        wasRsiUp := true
        break

bull_cross = crossover(macd, signal) and wasRsiDown
bear_cross = crossunder(macd, signal) and wasRsiUp
strategy.entry("Long", strategy.long, when=bull_cross)
// strategy.entry("Sell", strategy.short, when=bear_cross)
strategy.close("Long", when=bear_cross)

StopPrice  = strategy.position_avg_price * (1 - SL)

if (strategy.position_size > 0)
    strategy.exit(id="Exit", stop=StopPrice)

Overview

A long entry triggers when the MACD line crosses above its signal line while the RSI was in oversold territory within a specified lookback window. Positions close when the MACD crosses below the signal line following an overbought RSI condition or when reaching a percentage-based stop loss level. User inputs configure MACD lengths, smoothing methods, RSI thresholds, lookback duration, and stop loss percentage.

MACD crossover signal filter with customizable MA types
RSI oversold and overbought historical lookback validation
Percentage-based stop loss risk management
Configurable lookback window for RSI conditions

Details

Published by

Alorse on GitHub

Code credit

fredoorse, as written in the script's header

Type

Strategy, Pine Script v4

Draws

On the price chart

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.

File

strategies/momentum/MACD+RSI.pine

Repository

github.com/Alorse/pinescript-strategies. See its other scripts in the library

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
Source	`source`	`close`	`src`
Fast Length	`int`	`12`	`fast_length`
Slow Length	`int`	`26`	`slow_length`
Signal Smoothing	`int`	`9`	`signal_length`
Oscillator MA Type	`string`	`EMA`	`sma_source`
Signal Line MA Type	`string`	`EMA`	`sma_signal`
Length	`int`	`14`	`len`
Stop Loss %	`int`	`99`	`SL`
Take Profit %	`int`	`10`	`TP`
Check RSI last # candles	`int`	`5`	`rsiBack`
RSI over sold level	`int`	`30`	`rsiDown`
RSI over bought level	`int`	`70`	`rsiUp`

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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