OPEN-SOURCE SCRIPT
Call and Put Signals with Alerts
//version=5
indicator("Call and Put Signals with Alerts", overlay=true)
// Input parameters for the RSI and Moving Averages
rsiLength = input.int(14, title="RSI Length")
rsiOverbought = input.int(70, title="RSI Overbought Level")
rsiOversold = input.int(30, title="RSI Oversold Level")
shortMaLength = input.int(50, title="Short MA Length")
longMaLength = input.int(200, title="Long MA Length")
// Calculate the RSI and Moving Averages
rsi = ta.rsi(close, rsiLength)
shortMa = ta.sma(close, shortMaLength)
longMa = ta.sma(close, longMaLength)
// Define the conditions for Call (Buy) and Put (Sell) signals
callCondition = (rsi < rsiOversold) and (shortMa > longMa) // RSI oversold and short MA above long MA (bullish)
putCondition = (rsi > rsiOverbought) and (shortMa < longMa) // RSI overbought and short MA below long MA (bearish)
// Plot Call and Put signals on the chart
plotshape(series=callCondition, location=location.belowbar, color=color.green, style=shape.labelup, title="Call Signal", text="CALL")
plotshape(series=putCondition, location=location.abovebar, color=color.red, style=shape.labeldown, title="Put Signal", text="PUT")
// Plot the Moving Averages for trend visualization
plot(shortMa, color=color.blue, title="Short MA")
plot(longMa, color=color.orange, title="Long MA")
// Alert conditions for Call and Put signals
alertcondition(callCondition, title="Call Alert", message="Call (Buy) Signal - RSI Oversold & Short MA > Long MA")
alertcondition(putCondition, title="Put Alert", message="Put (Sell) Signal - RSI Overbought & Short MA < Long MA")
indicator("Call and Put Signals with Alerts", overlay=true)
// Input parameters for the RSI and Moving Averages
rsiLength = input.int(14, title="RSI Length")
rsiOverbought = input.int(70, title="RSI Overbought Level")
rsiOversold = input.int(30, title="RSI Oversold Level")
shortMaLength = input.int(50, title="Short MA Length")
longMaLength = input.int(200, title="Long MA Length")
// Calculate the RSI and Moving Averages
rsi = ta.rsi(close, rsiLength)
shortMa = ta.sma(close, shortMaLength)
longMa = ta.sma(close, longMaLength)
// Define the conditions for Call (Buy) and Put (Sell) signals
callCondition = (rsi < rsiOversold) and (shortMa > longMa) // RSI oversold and short MA above long MA (bullish)
putCondition = (rsi > rsiOverbought) and (shortMa < longMa) // RSI overbought and short MA below long MA (bearish)
// Plot Call and Put signals on the chart
plotshape(series=callCondition, location=location.belowbar, color=color.green, style=shape.labelup, title="Call Signal", text="CALL")
plotshape(series=putCondition, location=location.abovebar, color=color.red, style=shape.labeldown, title="Put Signal", text="PUT")
// Plot the Moving Averages for trend visualization
plot(shortMa, color=color.blue, title="Short MA")
plot(longMa, color=color.orange, title="Long MA")
// Alert conditions for Call and Put signals
alertcondition(callCondition, title="Call Alert", message="Call (Buy) Signal - RSI Oversold & Short MA > Long MA")
alertcondition(putCondition, title="Put Alert", message="Put (Sell) Signal - RSI Overbought & Short MA < Long MA")
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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