RSI Trend Strategy: 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

28 lines of Pine Script v5 from RSI Trend - Strategy/rsi_trend.pine, published under MPL-2.0. Keep the author's credit and licence lines when you reuse it.

rsi_trend.pine

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © Salih Emin (cerebrux)

//@version=5
strategy('RSI Trend Strategy', overlay=true, default_qty_value = 100, default_qty_type = strategy.percent_of_equity, initial_capital = 1000)
RSIperiod = input(title='rsi period', defval=5)
RSIvalue = ta.rsi(close, RSIperiod)

if RSIvalue < 30 and close > ta.sma(close, 100) and close < ta.sma(close, 30)
    strategy.entry('long', strategy.long)

SL = 0.10
TP = 0.30

longstop = strategy.position_avg_price * (1 - SL)
longprofit = strategy.position_avg_price * (1 + TP)

if strategy.position_size > 0
    strategy.exit(id='close', stop=longstop, limit=longprofit)

if RSIvalue > 60 and close < ta.sma(close, 100) and close > ta.sma(close, 30)
    strategy.entry('short', strategy.short)

shortstop = strategy.position_avg_price * (1 + SL)
shortprofit = strategy.position_avg_price * (1 - TP)

if strategy.position_size < 0
    strategy.exit(id='close', stop=shortstop, limit=shortprofit)

Overview

Long positions trigger when a 5-period RSI drops below 30 while price sits above the 100-period SMA but below the 30-period SMA. Short entries occur when RSI exceeds 60 under opposite price and SMA conditions. Active trades exit via a fixed 10% stop loss or a 30% take profit target relative to entry price. Users can adjust the RSI period in the inputs.

Short-period RSI momentum filtering
Dual SMA trend alignment filter
Percentage-based stop loss and take profit exits
Overlay strategy execution on price chart

Details

Published by

SynergOps on GitHub

Code credit

Salih Emin (cerebrux), as written in the script's header

Type

Strategy, Pine Script v5

Draws

On the price chart

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.

File

RSI Trend - Strategy/rsi_trend.pine

Repository

github.com/SynergOps/AlgoTrading. 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
rsi period	`int`	`5`	`RSIperiod`

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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