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 v4 · On the chart
RSI Strategy with ATR Stop Loss and Take Profit
This strategy combines Relative Strength Index momentum signals with standard deviation dynamic thresholds to identify trade entries.
GitHub stars3on the repository
Pine versionv4older, still runs
Lines of code119
Settings8inputs
LicenceNone stated
Last update3 years ago14 Jun 2023
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
Long orders execute when RSI drops below 37 while price stays above the lower dynamic boundary. Short orders trigger when RSI rises above 62 while price remains under the upper threshold. Positions close using ATR-based stop-loss and take-profit distances calculated from the entry price. Inputs allow adjustments to RSI length, ATR length, ATR multiplier, and standard deviation period. The script plots RSI, ATR, and volatility thresholds on the price chart overlay.
- RSI momentum entry signals
- ATR-based stop loss and take profit
- Dynamic volatility thresholds with standard deviation
- Dynamic position size calculation
Details
Published by
shadybrook on GitHub
Type
Strategy, Pine Script v4
Draws
On the price chart
Category
Oscillators & momentum, Volatility & bands, Mean reversion
Markets
Any symbol
Timeframes
M1-M5, M15-H1
Risk Notes
- The strategy enters trades without a stop loss
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| RSI Length | int | 8 | rsiLength |
| ATR Length | int | 7 | atrLength |
| ATR Multiplier | float | 14.0 | atrMultiplier |
| Standard Deviation Period | int | 27 | stddevPeriod |
| RSI Length | int | 14 | rsiLength |
| ATR Length | int | 14 | atrLength |
| ATR Multiplier | float | 2.0 | atrMultiplier |
| Standard Deviation Period | int | 20 | stddevPeriod |
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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