Sapphire RSI Divergence Strategy: Free TradingView Strategy (Pine Script)

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

Separate toggles control regular and hidden bullish and bearish divergence plots, and an RSI level is available as a take-profit setting. Optional percent profit and stop targets and an ATR-based stop are both off by default, so there is no stop loss unless enabled. A time-of-day filter and a date range can restrict when trades are allowed. The strategy allows two entries in the same direction.

RSI pivot divergence settings
Regular and hidden bullish and bearish plot toggles
Optional percent take profit and stop loss
Optional ATR-based stop loss
Time-of-day and date range filters

Details

Published by

sapphire-edge on GitHub

Type

Strategy, Pine Script v5

Draws

On the price chart

Markets

Any symbol

Timeframes

Any timeframe

Risk Notes

The strategy can add several entries in the same direction
The strategy enters trades without a stop loss

File

strategies/rsi_divergence.pine

Repository

github.com/sapphire-edge/PineScript-Library. 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`	`9`	`len`
RSI Source	`source`	`close`	`src`
Pivot Lookback Right	`int`	`3`	`lbR`
Pivot Lookback Left	`int`	`1`	`lbL`
Take Profit at RSI Level	`int`	`80`	`takeProfitRSILevel`
Max of Lookback Range	`int`	`60`	`rangeUpper`
Min of Lookback Range	`int`	`5`	`rangeLower`
Plot Bullish	`bool`	`true`	`plotBull`
Plot Hidden Bullish	`bool`	`true`	`plotHiddenBull`
Plot Bearish	`bool`	`true`	`plotBear`
Plot Hidden Bearish	`bool`	`false`	`plotHiddenBear`
Enable Profit Target	`bool`	`false`	`useProfitPerc`

Show all 25 settings

Setting	Type	Default	Variable
Take Profit (%)	`float`	`1.0`	`takeProfitPerc`
Enable Stop Loss	`bool`	`false`	`useStopLossPerc`
Stop Loss (%)	`float`	`1.0`	`stopLossPerc`
Enable ATR-Based Stop Loss	`bool`	`false`	`enableATR`
ATR Length	`int`	`14`	`atrLength`
ATR Multiplier	`float`	`3.5`	`atrMultiplier`
Enable Time Filter	`bool`	`false`	`useTimeFilter`
Start Hour (24-hour format)	`int`	`0`	`startHour`
Start Minute	`int`	`0`	`startMinute`
End Hour (24-hour format)	`int`	`23`	`endHour`
End Minute	`int`	`45`	`endMinute`
Start Filter	`time`	`timestamp("01 Jan 2000 13:30 +0000")`	`i_StartTime`
End Filter	`time`	`timestamp("1 Jan 2099 19:30 +0000")`	`i_EndTime`

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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