TradingView RSI Strategy - Pine Script

[BurtonM]

RSI Strategy for TradingView - Pine Script​

This trading Strategy comes from a video by Ali Casey at StatOasis on YouTube,

Thank you Ali for sharing all your data analysis, and backtesting.

RSI Trading Strategy That PRINTS Money (Tested & Proven)

It is important you watch the video link above to understand this RSI Strategy.

IMPORTANT: This Strategy developed and backtested on the S&P500 Daily timeframe.

I have coded 4 versions: MT4 version is here. MT5 version is here. Python version is here.

A txt file is attached below this post for easy downloading.

TradingView version:​

1. Structure:​

   • Uses Pine Script v5 syntax
   • Strategy settings are defined at the top with input parameters
   • Includes visual elements like plots and shapes for better visualization

2. Features Added:​

   • Visual plotting of entry/exit points
   • Information table showing current values
   • Alert conditions for entries and exits
   • Position tracking with bars held counter

3. Trading Logic:​

   • Core strategy (RSI-based entries and exits)
   • Same entry/exit conditions
   • Position management with maximum bars held
   • Stop loss implementation using strategy.exit

To use this in TradingView:​

1. Open TradingView Pine Editor
2. Paste the code
3. Click "Save" and give it a name
4. Click "Add to Chart"
5. Configure inputs in the Strategy Tester panel
6. Use Strategy Tester to backtest

You can customize the strategy by adjusting the input parameters:

• Lot Size for position sizing
• Stop Loss distance
• RSI parameters (period, entry/exit levels)
• Maximum bars to hold a position

The strategy will show:​

• Green triangles for entry points
• Red triangles for exit points
• Information table with current values
• Optional alerts for entries and exits

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