Automated Pine Script Signal Generator

Here's a Pine Script for TradingView that generates buy and sell signals based on the RSI (Relative Strength Index), support and resistance levels, and high trading volume. The script includes real-time alerts, visualization on the chart, adjustable parameters, and backtesting capability. ```pinescript //@version=5 indicator("RSI Signal Generator with Support/Resistance and Volume", overlay=true) // Parameters rsiLength = input.int(14, title="RSI Length") overboughtLevel = input.int(70, title="Overbought Level") oversoldLevel = input.int(30, title="Oversold Level") volumeMultiplier = input.float(1.5, title="Volume Multiplier", step=0.1) supportPeriod = input.int(50, title="Support/Resistance Lookback Period") lookbackPeriod = input.int(365, title="Backtest Lookback Period", minval=1) // RSI Calculation rsi = ta.rsi(close, rsiLength) // Volume Condition highVolume = volume > ta.sma(volume, 20) * volumeMultiplier // Support and Resistance Calculation support = ta.lowest(supportPeriod) resistance = ta.highest(supportPeriod) // Buy and Sell Conditions buyCondition = rsi < oversoldLevel and close > support and highVolume sellCondition = rsi > overboughtLevel and close < resistance and highVolume // Plot Buy and Sell Signals plotshape(series=buyCondition, title="Buy Signal", location=location.belowbar, color=color.green, style=shape.labelup, text="BUY") plotshape(series=sellCondition, title="Sell Signal", location=location.abovebar, color=color.red, style=shape.labeldown, text="SELL") // Real-Time Alerts alertcondition(buyCondition, title="Buy Alert", message="RSI Buy Signal Triggered") alertcondition(sellCondition, title="Sell Alert", message="RSI Sell Signal Triggered") // Backtesting strategy.entry("Buy", strategy.long, when=buyCondition) strategy.close("Buy", when=sellCondition) // Visualization of Support and Resistance plot(support, title="Support Level", color=color.green, linewidth=2) plot(resistance, title="Resistance Level", color=color.red, linewidth=2) // Backtest Period startDate = timestamp(year(timenow) - 1, month(timenow), dayofmonth(timenow)) endDate = timenow if (time >= startDate and time <= endDate) strategy.close_all(when=sellCondition) // Comments // The script generates buy signals when the RSI is below the oversold level, price is above the support, and trading volume is high. // Sell signals are generated when the RSI is above the overbought level, price is below the resistance, and trading volume is high. // Signals are visualized directly on the chart with distinct markers and real-time alerts can be set up for different timeframes. ``` ### Explanation of the Script: 1. **RSI Calculation**: The RSI is calculated using a default period of 14. It is compared against overbought and oversold levels, which are adjustable. 2. **Volume Condition**: A high-volume condition is determined by comparing the current volume to a moving average of the volume multiplied by a customizable factor. 3. **Support and Resistance Levels**: These are calculated based on the lowest and highest prices over a specified period (default is 50 bars). 4. **Buy and Sell Conditions**: - A buy signal is triggered when the RSI is below the oversold level, the price is above the support level, and high volume is present. - A sell signal is triggered when the RSI is above the overbought level, the price is below the resistance level, and high volume is present. 5. **Visualization**: Buy and sell signals are plotted on the chart with green and red markers, respectively. Support and resistance levels are also plotted. 6. **Real-Time Alerts**: Alerts are set up to trigger when the buy or sell conditions are met. 7. **Backtesting**: The script includes a simple backtesting setup that closes all trades when the sell condition is met within the last year. 8. **Adjustable Parameters**: The script includes inputs to adjust the RSI length, overbought/oversold levels, volume multiplier, and lookback periods. This script is designed to help you identify potential entry and exit points based on RSI, support/resistance levels, and volume, with customizable parameters and real-time alert capabilities.