MACD + Divergences [Alorse] is a momentum strategy that calculates the MACD oscillator and identifies regular and hidden divergences using pivot high and low points. It filters trade signals with dual Exponential Moving Averages (EMA 150 and 600) to ensure tra
Strategy · Pine Script v5 · Own pane
RSI Strategy
The RSI Strategy plots the Relative Strength Index (RSI) on the chart with oversold and overbought level lines.
GitHub stars2on the repository
Pine versionv5runs as is
Lines of code34
Settings5inputs
LicenceGPL-3.0
Last update1 year ago14 Aug 2025
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
34 lines of Pine Script v5 from strategy/rsi.pine, published under GPL-3.0. Keep the author's credit and licence lines when you reuse it.
//@version=5
strategy(title="RSI Strategy", overlay=false, shorttitle="RSI", initial_capital = 10000,
default_qty_type = strategy.percent_of_equity, default_qty_value = 100)
rsi_period = input(14, title="RSI Period")
rsi_oversold = input(30, title="RSI Oversold Threshold")
rsi_overbought = input(70, title="RSI Overbought Threshold")
tradeLong = input(true, title="Trade Long")
tradeShort = input(false, title="Trade Short")
rsi_value = ta.rsi(close, rsi_period)
enter_long = ta.crossover(rsi_value, rsi_oversold)
exit_long = ta.crossunder(rsi_value, rsi_overbought)
enter_short = ta.crossunder(rsi_value, rsi_overbought)
exit_short = ta.crossover(rsi_value, rsi_oversold)
plot(rsi_value, title="RSI", color=color.blue)
hline(rsi_overbought, "Overbought Level", color=color.red)
hline(rsi_oversold, "Oversold Level", color=color.green)
if (tradeLong and enter_long)
strategy.entry("Long", strategy.long)
if (tradeLong and exit_long)
strategy.close("Long")
if (tradeShort and enter_short)
strategy.entry("Short", strategy.short)
if (tradeShort and exit_short)
strategy.close("Short")
Overview
Long entries trigger when RSI crosses above the oversold threshold, and short entries when it crosses below the overbought threshold. Positions exit on the opposite crossover. Settings include RSI period, oversold/overbought levels, and trade long/short options. It draws in a separate pane and uses percentage of equity position sizing without stop loss.
- RSI Crossover
- Oversold Overbought Signals
- Customizable RSI
- Long Short Trading
- Separate Pane Plot
Details
Published by
vanAmsen on GitHub
Type
Draws
Separate pane below the chart
Category
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- The strategy enters trades without a stop loss
Repository
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 | rsi_period |
| RSI Oversold Threshold | int | 30 | rsi_oversold |
| RSI Overbought Threshold | int | 70 | rsi_overbought |
| Trade Long | bool | true | tradeLong |
| Trade Short | bool | false | tradeShort |
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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