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 v4 · Own pane
Strategy Using Alert Message
This strategy calculates a 20-period Relative Strength Index (RSI) and generates entry orders based on crossovers and crossunders of the 50 level.
GitHub stars65on the repository
Pine versionv4older, still runs
Lines of code17
Settings0inputs
LicenceGPL-3.0
Last update4 days ago24 Oct 2026
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
17 lines of Pine Script v4 from examples/v4/tradingview-docs/v4-essential-alerts-05.pine, published under GPL-3.0. Keep the author's credit and licence lines when you reuse it.
//@version=4
strategy("Strategy using `alert_message`")
r = rsi(close, 20)
// Detect crosses.
xUp = crossover( r, 50)
xDn = crossunder(r, 50)
// Place order on crosses using a custom alert message for each.
if xUp
strategy.entry("Long", strategy.long, stop = high, alert_message = "Stop-buy executed (stop was " + tostring(high) + ")")
else if xDn
strategy.entry("Short", strategy.short, stop = low, alert_message = "Stop-sell executed (stop was " + tostring(low) + ")")
plotchar(xUp, "Go Long", "▲", location.bottom, color.lime, size = size.tiny)
plotchar(xDn, "Go Short", "▼", location.top, color.red, size = size.tiny)
hline(50)
plot(r)
Overview
When RSI crosses above 50, it places a long stop entry at the current high price with a custom alert message. When RSI crosses below 50, it places a short stop entry at the current low price. The script plots the RSI line, a 50 reference line, and signal shapes in a separate pane. It includes no default stop loss or explicit profit target.
- 20-period RSI momentum calculation
- Dynamic alert message integration for strategy orders
- RSI 50 level crossover signal detection
- Stop-market entry orders at bar extremes
Details
Published by
be-thomas on GitHub
Type
Strategy, Pine Script v4
Draws
Separate pane below the chart
Category
Oscillators & momentum
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- The strategy enters trades without a stop loss
Topics
algorithmic-tradingbacktestingcompilerfintechjavascriptpinescripttechnical-analysistradingview
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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