by 
This strategy overlays three exponential moving averages on the price chart, with periods of 9, 50, and 200. It calculates a MACD histogram from a 1-minute timeframe, applies Bollinger Bands to the histogram, and tracks two RSI oscillators of different lengths
Strategy · Pine Script v5 · On the chart
XAUUSD Renko Scalping
A strategy intended for gold on a Renko chart with a box size of 1.
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code159
Settings11inputs
LicenceNone stated
Last update5 months ago16 May 2026
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
XAUUSD Renko Scalping goes long when close is above its five-bar average and RSI sits between 45 and the overbought level, and short on the mirror conditions. An optional volume filter is available. Stop loss and take profit are ATR multiples, with take profit scaled by a risk-reward ratio, and each can be switched off. Size is 10 percent of equity, with a cap of three concurrent positions.
- Five-bar average trend with RSI filter
- ATR-based stop loss and take profit
- Adjustable risk-reward ratio
- Optional volume filter
- Cap on concurrent positions
Details
Published by
thealgo899-creator on GitHub
Type
Strategy, Pine Script v5
Draws
On the price chart
Category
Scalping, Oscillators & momentum
Markets
Gold
Timeframes
M1-M5
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.
Settings
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 | rsiLength |
| RSI Overbought Level | int | 70 | rsiOverbought |
| RSI Oversold Level | int | 30 | rsiOversold |
| ATR Length | int | 14 | atrLength |
| ATR Multiplier for TP/SL | float | 1.5 | atrMultiplier |
| Use RSI Filter | bool | true | useRSI |
| Use Volume Filter | bool | false | useVolume |
| Risk:Reward Ratio | float | 2.0 | riskRewardRatio |
| Max Concurrent Positions | int | 3 | maxPositions |
| Use Take Profit | bool | true | useTakeProfit |
| Use Stop Loss | bool | true | useStopLoss |
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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