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 with Selective Alert Calls
This Pine Script strategy generates trading signals using a 20-period Relative Strength Index (RSI) relative to the 50 level.
GitHub stars65on the repository
Pine versionv4older, still runs
Lines of code27
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
27 lines of Pine Script v4 from examples/v4/tradingview-docs/v4-essential-alerts-04.pine, published under GPL-3.0. Keep the author's credit and licence lines when you reuse it.
//@version=4
strategy("Strategy with selective `alert()` calls")
r = rsi(close, 20)
// Detect crosses.
xUp = crossover( r, 50)
xDn = crossunder(r, 50)
// Place orders on crosses.
if xUp
strategy.entry("Long", strategy.long)
else if xDn
strategy.entry("Short", strategy.short)
// Trigger an alert when RSI diverges from our trade's direction.
divInLongTrade = strategy.position_size > 0 and falling(r, 3)
divInShortTrade = strategy.position_size < 0 and rising( r, 3)
if divInLongTrade
alert("WARNING: Falling RSI", alert.freq_once_per_bar_close)
if divInShortTrade
alert("WARNING: Rising RSI", alert.freq_once_per_bar_close)
plotchar(xUp, "Go Long", "▲", location.bottom, color.lime, size = size.tiny)
plotchar(xDn, "Go Short", "▼", location.top, color.red, size = size.tiny)
plotchar(divInLongTrade, "WARNING: Falling RSI", "•", location.top, color.red, size = size.tiny)
plotchar(divInShortTrade, "WARNING: Rising RSI", "•", location.bottom, color.lime, size = size.tiny)
hline(50)
plot(r)
Overview
Strategy with Selective Alert Calls enters a long position when the RSI crosses above 50 and a short position when it crosses below 50. While in an active trade, the strategy monitors RSI movement and triggers custom selective alerts if the RSI moves against the trade direction (falling while long or rising while short). It plots the RSI line, a level 50 centerline, and signal characters in a separate indicator pane. There are no stop loss or profit target exit rules.
- RSI 50 crossover entry signals
- Position-aware alert triggering
- Trade divergence visual warnings
- Separate pane RSI indicator display
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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