Alert BB + RSI [Alorse] is a multi-symbol mean-reversion strategy designed for cryptocurrency trading. It evaluates Bollinger Bands and the Relative Strength Index (RSI) across up to 20 user-defined ticker symbols simultaneously. The strategy enters long posit
Strategy · Pine Script v5 · On the chart
MultiPeriodOverBS
This strategy calculates volume-weighted Relative Strength Index (RSI) values across multiple timeframes, specifically 15-minute and daily periods.
GitHub stars6on the repository
Pine versionv5runs as is
Lines of code76
Settings0inputs
LicenceNone stated
Last update2 years ago3 Oct 2024
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
MultiPeriodOverBS averages the resulting short- and long-term RSIs into an oscillator to identify extreme overbought and oversold market conditions. Trades are executed using fixed percentage grid steps, entering short when prices rise in overbought territory and long when prices drop in oversold territory. Plotted directly on the price chart with entry labels, background highlights, and reference levels, it operates without predefined stop loss or take profit orders.
- Multi-timeframe volume-weighted RSI calculation
- Composite multi-period momentum oscillator
- Grid-style spacing for entry execution
- Visual background indicators for overbought and oversold states
Details
Published by
wanjo-tech on GitHub
Type
Strategy, Pine Script v5
Draws
On the price chart
Category
Oscillators & momentum, Mean reversion
Markets
Any symbol
Timeframes
M15-H1
Risk Notes
- The strategy enters trades without a stop loss
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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