Relative Strength Strategy (4h): 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

64 lines of Pine Script v5 from Strategies/Relative Strength Strategy (4h).pine, published under GPL-3.0. Keep the author's credit and licence lines when you reuse it.

Relative Strength Strategy (4h).pine

//@version=5
strategy("Relative Strength Strategy (4h)", overlay=true,
     initial_capital=1000000, 
     commission_type=strategy.commission.percent, 
     commission_value=0.075,
     currency = "USD",
     default_qty_type = strategy.percent_of_equity,
     default_qty_value = 100)

// Variables
color col = na

sma_mid_term_length = input.int(35, minval=1, title="Mid-term SMA (periods)")

FromYear  = input.int(defval = 2017, title = "From Year", minval = 2000)
FromMonth = input.int(defval = 1, title = "From Month", minval = 1, maxval = 12)
FromDay   = 1  //input.int(defval = 1, title = "From Day", minval = 1, maxval = 31)
Months    = input.int(defval = 12, title = "Months", minval = 1)
ToYear    = FromYear + int(Months / 12)//input.int(defval = 9999, title = "To Year", minval = 2017)
ToMonth   = (Months + FromMonth) % 12  //input.int(defval = 1, title = "To Month", minval = 1, maxval = 12)
ToDay     = 1  //input.int(defval = 1, title = "To Day", minval = 1, maxval = 31)
start     = timestamp(FromYear, FromMonth, FromDay, 00, 00)  // backtest start window
finish    = timestamp(ToYear, ToMonth, ToDay, 23, 59)        // backtest finish window
// yesterday = timenow - 16 * 60 * 60 * 1000
window() => 
    time >= start and time <= finish ? true : false // create function "within window of time"

avg_price = (low + high + open + close) / 4
sma_mid_term = ta.sma(avg_price, sma_mid_term_length)

relative_strength = (avg_price - sma_mid_term) / sma_mid_term
rs = sma_mid_term + sma_mid_term * ta.ema(relative_strength, sma_mid_term_length)
rs_delta = (rs / rs[1] - 1)
dir = ta.change(rs_delta >= 0 ? 1 : 0)

if not na(rs) and window()
    strategy.cancel_all()
    if dir > 0
        if strategy.position_size == 0
            strategy.order(id="L", direction=strategy.long, limit=avg_price*0.993)
            strategy.exit(id="L1", from_entry="L", stop=avg_price*0.95)
    else if dir[1] > 0 and dir == 0
        if strategy.position_size == 0
            strategy.order(id="L", direction=strategy.long, limit=avg_price*1.03)
            strategy.exit(id="L2", from_entry="L", stop=avg_price*0.95)
    else if dir < 0
        if strategy.position_size > 0 
            strategy.exit(id="L3", from_entry="L", limit=strategy.position_avg_price)
    else if dir[1] < 0 and dir == 0
        if strategy.position_size > 0 
            strategy.exit(id="L4", from_entry="L", stop=strategy.position_avg_price*0.95)
    else if dir == 0
        if strategy.position_size > 0 
            strategy.exit(id="L5", from_entry="L", stop=strategy.position_avg_price*0.95)

if time > finish
    strategy.close_all()
    
col := color.gray
col := rs_delta > 0 ? color.green : col
col := rs_delta < 0 ? color.red : col
plot(rs, color=col, style=plot.style_linebr)
plot(avg_price, style=plot.style_linebr)
plot(sma_mid_term, color=#673AB7)

Overview

Relative Strength Strategy (4h) averages open, high, low and close, smooths that with a mid-term SMA and builds a relative strength line from the gap between price and the SMA. When the slope of that line turns positive it places a limit order slightly below price, with a stop below. Other direction states manage exits using limit or stop orders around the average entry. A date window limits trading, positions close when it ends, and the lines draw on the chart.

Relative strength line from price versus SMA
Slope-change entry and exit states
Limit entry orders with percentage stop
Backtest date window with forced close
Single mid-term SMA length setting

Details

Published by

creatidy on GitHub

Type

Strategy, Pine Script v5

Draws

On the price chart

Markets

Crypto

Timeframes

H4 and above

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/Relative Strength Strategy (4h).pine

Repository

github.com/creatidy/TradingView. See its other scripts in the library

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

Setting	Type	Default	Variable
Mid-term SMA (periods)	`int`	`35`	`sma_mid_term_length`
From Year	`int`	`2017`	`FromYear`
From Month	`int`	`1`	`FromMonth`
Months	`int`	`12`	`Months`

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.

Similar Pine Scripts

2 EMA/SMA + RSI Strategy [Alorse]

by Alorse

330

2 EMA/SMA + RSI Strategy [Alorse] combines three configurable moving averages with a short-period Relative Strength Index filter. It plots fast, slow, and trend moving averages on the price chart. Long entries trigger when the fast moving average is above the

Strategy v4 TrendOscillators & momentum

Updated 2 months ago · None stated

Acrypto - Weighted Strategy

by AlbertoCuadra

318

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 v5 TrendOscillators & momentum

Updated 3 years ago · Custom licence

Mean Reversion Strategy

by lth-elm

285

Mean Reversion Strategy is an overlay strategy that identifies pullbacks using a long-term EMA, RSI, and candlestick patterns. It generates long signals when a bullish engulfing candle forms below the EMA while RSI is oversold, and short signals when a bearish

Strategy v4 Mean reversionCandlestick patterns

Updated 3 years ago · None stated

Donald - AI Futures 5M 15M Timeframe

by dearvn

257

Donald - AI Futures 5M 15M Timeframe is an overlay trading strategy designed for intraday futures trading. It utilizes rational quadratic kernel regression to construct dynamic momentum zones and smoothed price boundaries on the main price chart. The strategy

Strategy v5 SMC / ICT / price actionTrend Repaints

Updated 7 weeks ago · None stated

Momentum Strategy Template

by TradersPost

228

This strategy generates trading signals based on a selectable momentum engine, supporting MACD, RSI, Stochastic, or Rate of Change. Entries trigger on signal crosses, zero-line crosses, or threshold crosses, with an optional moving average trend filter. Risk m

Strategy v6 Oscillators & momentumTrend

Updated 3 months ago · None stated

255 EMA Strategy

by hasnocool

106

255 EMA Strategy combines an exponential moving average with Average True Range bands and standard MACD crossovers to generate entry signals. Drawn directly on the price chart, it plots the central 255 EMA along with upper and lower volatility envelopes. Trade

Strategy v4 Moving averagesOscillators & momentum

Updated 2 years ago · GPL-3.0

More Trend scripts

Relative Strength Strategy (4h)