This strategy draws on the price chart and combines Stochastic RSI, the Money Flow Index, and an exponential moving average to open long or short trades. Longs use the lower oscillator thresholds and shorts use the upper ones, with direction limited to longs,
Strategy · Pine Script v5 · On the chart
MTF RSI
This strategy enters long when price is above a long moving average and the RSI falls below an oversold level.
GitHub stars330on the repository
Pine versionv5runs as is
Lines of code23
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
23 lines of Pine Script v5 from strategies/MTF 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("MTF RSI", overlay=true, 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=0.01)
// RSI
rsiGroup = 'RSI'
lenRSI = input.int(14, title='Length', minval=1, group=rsiGroup)
rsi_overbought = input(70, title='RSI Overbought Level', group=rsiGroup)
rsi_oversold = input(30, title='RSI Overbought Level', group=rsiGroup)
RSI = ta.rsi(close, lenRSI)
maGroup = "Moving Average"
ma_type = input.string(title='Type', defval='EMA', options=['SMA', 'EMA'], group=maGroup, inline='ma')
ma_length = input.int(title='Length', defval=900, group=maGroup, inline='ma')
ma = ma_type == 'SMA' ? ta.sma(close, ma_length) : ta.ema(close, ma_length)
longEntry = close > ma and RSI < rsi_oversold
longExit = RSI > rsi_overbought or close < ma
strategy.entry('Long', strategy.long, when=longEntry)
strategy.close('Long', when=longExit)
Overview
MTF RSI closes the long position when the RSI rises above an overbought level or price drops below the moving average. The RSI length, oversold and overbought thresholds, and the moving-average type and length are user inputs. Entries and exits appear on the price chart. It trades long only, sizes positions as a percentage of equity, and has no stop loss.
- RSI oversold long entry
- EMA or SMA price filter
- RSI overbought or MA exit
- Percent-of-equity position size
- Long-only trading without a stop
Details
Published by
Alorse on GitHub
Type
Strategy, Pine Script v5
Draws
On the price chart
Category
Oscillators & momentum, Moving averages, Mean reversion
Markets
Any symbol
Timeframes
Any timeframe
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 | lenRSI |
| RSI Overbought Level | int | 70 | rsi_overbought |
| RSI Overbought Level | int | 30 | rsi_oversold |
| Type | string | EMA | ma_type |
| Length | int | 900 | ma_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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