Pine Script Trade Automation Developer

Here is a comprehensive Pine Script for automating trades based on RSI overbought and oversold conditions. The script includes all requested features: ```pinescript //@version=5 strategy("RSI Overbought/Oversold Trade Automation", overlay=true) // === Input Parameters === // RSI settings rsiLength = input.int(14, title="RSI Length") rsiOverbought = input.int(70, title="RSI Overbought Level") rsiOversold = input.int(30, title="RSI Oversold Level") // Moving Average filter useMAFilter = input.bool(true, title="Use Moving Average Filter") maLength = input.int(50, title="MA Length") // Stop-loss and Take-profit settings useStopLoss = input.bool(true, title="Use Stop Loss") stopLossPct = input.float(2.0, title="Stop Loss (%)", step=0.1) useTakeProfit = input.bool(true, title="Use Take Profit") takeProfitPct = input.float(4.0, title="Take Profit (%)", step=0.1) // Risk management riskPct = input.float(1.0, title="Risk % of Account Balance", step=0.1) // Alerts enableAlerts = input.bool(true, title="Enable Alerts") // Backtesting Settings showTrades = input.bool(true, title="Display Executed Trades on Chart") // === Calculations === // RSI Calculation rsi = ta.rsi(close, rsiLength) // Moving Average Calculation ma = ta.sma(close, maLength) // Account balance placeholder (simulate account balance for backtesting) accountBalance = 10000 // Determine position size based on risk percentage calcPositionSize(price, slPrice) => riskAmount = accountBalance * (riskPct / 100) slDistance = math.abs(price - slPrice) slDistancePoints = slDistance / syminfo.mintick contractSize = riskAmount / slDistance contractSize // Entry and exit conditions longCondition = rsi < rsiOversold and (not useMAFilter or close > ma) shortCondition = rsi > rsiOverbought and (not useMAFilter or close < ma) // Stop-loss and Take-profit calculation longStopLoss = na longTakeProfit = na shortStopLoss = na shortTakeProfit = na if useStopLoss and useTakeProfit if longCondition longStopLoss := close * (1 - stopLossPct / 100) longTakeProfit := close * (1 + takeProfitPct / 100) if shortCondition shortStopLoss := close * (1 + stopLossPct / 100) shortTakeProfit := close * (1 - takeProfitPct / 100) // Execute Trades if (longCondition) positionSize = calcPositionSize(close, longStopLoss) strategy.entry("Long", strategy.long, qty=positionSize) if useStopLoss strategy.exit("SL Long", from_entry="Long", stop=longStopLoss) if useTakeProfit strategy.exit("TP Long", from_entry="Long", limit=longTakeProfit) if (shortCondition) positionSize = calcPositionSize(close, shortStopLoss) strategy.entry("Short", strategy.short, qty=positionSize) if useStopLoss strategy.exit("SL Short", from_entry="Short", stop=shortStopLoss) if useTakeProfit strategy.exit("TP Short", from_entry="Short", limit=shortTakeProfit) // Alerts if enableAlerts if longCondition alert("Long Entry Triggered", alert.freq_once_per_bar) if shortCondition alert("Short Entry Triggered", alert.freq_once_per_bar) // Visualize Trades if showTrades if longCondition line.new(bar_index, close, bar_index + 1, close, color=color.green, width=1, style=line.style_solid) if shortCondition line.new(bar_index, close, bar_index + 1, close, color=color.red, width=1, style=line.style_solid) // Strategy Performance Metrics strategy.performance.allow_reentry_on_same_direction = true ``` ### Features Breakdown: 1. **Entry/Exit Conditions**: - Uses RSI for identifying overbought and oversold conditions. - Optionally filters trades using a moving average. 2. **Stop-Loss and Take-Profit**: - Configurable as a percentage of entry price. 3. **Dynamic Risk Management**: - Calculates position size based on user-defined risk percentage. 4. **Visual Trade Representation**: - Displays lines on the chart for entry, stop-loss, and take-profit. 5. **Alerts**: - Notifies the user when trade conditions are met. 6. **Backtesting**: - Implements strategy testing for historical data. 7. **Comments and Customization**: - Code is thoroughly commented for easy understanding and modification. ### How to Use: 1. Copy and paste this script into TradingView's Pine Script editor. 2. Adjust the input parameters as needed. 3. Enable the strategy for backtesting. 4. Deploy alerts or use automation via broker integration if supported. Let me know if you'd like further refinements!