by 
This strategy overlays a Cipher B style WaveTrend study on the price chart and is titled for Ethereum buy alerts aimed at 3Commas. It calculates a WaveTrend channel and a short moving average, and can mark buy, sell, gold, and divergence dots. Settings change
Strategy · Pine Script v5 · On the chart
RSI Divergence
This strategy detects bullish and bearish RSI divergences using price and RSI pivot points.
GitHub stars7on the repository
Pine versionv5runs as is
Lines of code52
Settings2inputs
LicenceMIT
Last update3 months ago8 Jul 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
52 lines of Pine Script v5 from public/code/indicators__rsi_divergence.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.
//@version=5
strategy("RSI Divergence", overlay=true,
default_qty_type=strategy.percent_of_equity, default_qty_value=10)
rsiLen = input.int(14, "RSI Period")
pivotLb = input.int(5, "Pivot Lookback")
rsiV = ta.rsi(close, rsiLen)
atrV = ta.atr(14)
// Pivotlar
ph = ta.pivothigh(high, pivotLb, pivotLb)
pl = ta.pivotlow(low, pivotLb, pivotLb)
phRsi = ta.pivothigh(rsiV, pivotLb, pivotLb)
plRsi = ta.pivotlow(rsiV, pivotLb, pivotLb)
var float prevPL = na, var float prevPLRsi = na
var float prevPH = na, var float prevPHRsi = na
var float currPL = na, var float currPLRsi = na
var float currPH = na, var float currPHRsi = na
if not na(pl)
prevPL := currPL
prevPLRsi := currPLRsi
currPL := pl
currPLRsi := rsiV[pivotLb]
if not na(ph)
prevPH := currPH
prevPHRsi := currPHRsi
currPH := ph
currPHRsi := rsiV[pivotLb]
bullDiv = not na(prevPL) and not na(currPL) and currPL < prevPL and currPLRsi > prevPLRsi and currPLRsi < 40
bearDiv = not na(prevPH) and not na(currPH) and currPH > prevPH and currPHRsi < prevPHRsi and currPHRsi > 60
if bullDiv and strategy.position_size == 0
sl = currPL - 0.3 * atrV
risk = close - sl
if risk > 0
strategy.entry("Div L", strategy.long)
strategy.exit("X", "Div L", stop=sl, limit=close + risk * 3)
if bearDiv and strategy.position_size == 0
sl = currPH + 0.3 * atrV
risk = sl - close
if risk > 0
strategy.entry("Div S", strategy.short)
strategy.exit("X", "Div S", stop=sl, limit=close - risk * 3)
plotshape(bullDiv, "Bull Div", shape.triangleup, location.belowbar, color.lime, size=size.normal)
plotshape(bearDiv, "Bear Div", shape.triangledown, location.abovebar, color.red, size=size.normal)
Overview
A bullish divergence triggers a long entry when price forms a lower low while RSI forms a higher low below 40. A bearish divergence triggers a short entry when price forms a higher high while RSI forms a lower high above 60. Positions are protected by ATR-adjusted stop losses based on pivot levels, and exits target a 1:3 risk-to-reward ratio. Shapes are plotted directly on the main chart when signals occur.
- RSI divergence detection using price and oscillator pivots
- ATR-adjusted stop loss placement based on pivot levels
- Fixed 1:3 risk-to-reward ratio take profit targets
- Visual signal shapes for bullish and bearish divergences
Details
Published by
muammeryldrm42 on GitHub
Type
Strategy, Pine Script v5
Draws
On the price chart
Category
Oscillators & momentum, Divergence
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
cryptofuturessodexsosovaluestrategyvaluechain
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| RSI Period | int | 14 | rsiLen |
| Pivot Lookback | int | 5 | pivotLb |
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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