This strategy goes long when RSI is below the oversold level and short when RSI is above the overbought level, and it can require price to agree with a 200-period EMA.
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
XAUUSD 1-Minute Scalping Strategy - FIXED Exits opens only when flat and, on the entry bar, sets a fixed take profit and stop loss from the close using the pip inputs times the symbol mintick. Inputs change RSI length, thresholds, profit and loss distances, and the trend filter. The script overlays the price chart and also plots RSI with overbought, oversold, and midline levels. There is no opposite-signal exit.
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
length
Overbought Level
int
70
overbought
Oversold Level
int
30
oversold
Take Profit (pips)
int
10
takeProfit
Stop Loss (pips)
int
5
stopLoss
Use 200 EMA Trend Filter (recommended)
bool
true
use_trend_filter
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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