This strategy combines Larry Williams' Vix Fix synthetic volatility indicator with Bollinger Bands. It calculates standard and inverted Williams Vix Fix metrics, displaying them as histogram columns with standard deviation bands in a separate pane. Long entrie
Strategy · Pine Script v5 · Own pane
RSI Threshold
This strategy calculates the Relative Strength Index of the close and is configured for a separate pane.
GitHub stars4on the repository
Pine versionv5runs as is
Lines of code21
Settings4inputs
LicenceNone stated
Last update6 days ago22 Oct 2026
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
RSI Threshold opens a long position when RSI is below the oversold level and a short position when RSI is above the overbought level. Position size defaults to ten percent of equity. Each entry attaches a stop using the stop loss percent input as the loss distance. The settings change RSI length, both threshold levels, and that stop size. No take-profit exit is defined.
- RSI length input
- Oversold and overbought thresholds
- Percent-of-equity position sizing
- Stop loss percent input
- Long and short entries
Details
Published by
latentwill on GitHub
Type
Strategy, Pine Script v5
Draws
Separate pane below the chart
Category
Oscillators & momentum, Mean reversion
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.
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 | 14 | rsi_length |
| Oversold Level | int | 30 | oversold |
| Overbought Level | int | 70 | overbought |
| Stop Loss % | float | 2.0 | stop_pct |
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
This strategy executes mean-reversion trades based on Bollinger Bands and the Stochastic Oscillator. Long orders trigger when price dips below the lower band alongside a bullish Stochastic crossover, with an optional oversold threshold. Short orders execute on
This strategy fades Bollinger Band extremes using the close. It enters short when price crosses above the upper band and the 14-period RSI is above 70, and enters long when price crosses below the lower band and RSI is below 30. It closes half of an open short
This strategy calculates the WaveTrend oscillator alongside Stochastic RSI to identify reversal setups at overbought and oversold extremes. It enters long positions when the WaveTrend oscillator crosses upward below configured oversold levels, and enters short
This strategy tracks the Williams %R oscillator to trade mean-reversion bounces from overbought and oversold extremes. It opens long or short positions when a reversal signal occurs alongside confirming price direction, while generating JSON-formatted alert pa
This strategy calculates a smoothed Relative Strength Index and plots self-adjusting linear regression bands with overbought and oversold boundaries in a separate pane. It enters long positions through dollar-cost averaging orders scaled across market phases a
Trade Your Charts With a Regulated Broker
Compare brokers that connect to TradingView, with spreads, minimum deposits and leverage side by side.
Compare brokers