OPEN-SOURCE SCRIPT
RSI Pivot Break System + TP/SL
█ OVERVIEW
RSI Pivot Break System + TP/SL is a technical tool that detects RSI-filtered price pivots, draws support and resistance levels, and generates breakout signals together with a complete trade setup – Stop Loss and three Take Profit levels based on Risk-Reward ratios.
The indicator combines classic pivot analysis with RSI momentum filtering. As a result, signals appear only when local highs or lows are confirmed by overbought or oversold market conditions.
Filtering pivots through RSI can also reduce the time needed to detect important pivots. Pivots forming inside Overbought/Oversold zones often represent the ending phase of local impulsive moves, which is why the default pivot length is set to a low value of 2.
After a breakout occurs, the indicator automatically creates a complete position visualization:
• entry level,
• Stop Loss,
• TP1 / TP2 / TP3,
• risk and reward zones.
█ CONCEPTS
The indicator was designed as a combination of price action, pivot analysis, and RSI momentum within a single breakout system.
Classic pivots often generate too many low-significance levels. Here, every pivot must additionally be confirmed by RSI:
• a pivot HIGH is created only when RSI is inside the overbought zone,
• a pivot LOW is created only when RSI is inside the oversold zone.
This allows the indicator to focus only on more significant local market extremes.
Pivot High and Pivot Low
Local price highs and lows detected using a specified number of candles on both sides.
• Pivot HIGH creates a potential resistance level
• Pivot LOW creates a potential support level
Once detected, the indicator automatically draws a horizontal level extended to the right.
RSI Filter
A pivot is accepted only when RSI meets a specific condition:
• for HIGH pivots → RSI ≥ overbought level
• for LOW pivots → RSI ≤ oversold level
This helps filter out many weak or random pivots.
The number of detected pivots can additionally be adjusted by modifying the Overbought/Oversold levels:
• adjusting Overbought/Oversold levels allows you to increase or decrease the number of detected pivots.
Breakout
A signal appears when a level is broken:
• breakout above resistance → BUY
• breakout below support → SELL
After the breakout, the level can either:
• remain on the chart,
or
• be automatically removed.
RSI Signal Filter
An optional additional filter can block signals during extreme RSI conditions:
• BUY signals can be blocked when RSI is too high
• SELL signals can be blocked when RSI is too low
This helps avoid entries after heavily extended moves.
TP/SL with Risk-Reward
After every signal, the indicator automatically calculates:
• entry level (close price of the breakout candle),
• Stop Loss,
• three Take Profit levels based on selected RR ratios.
SL can be calculated:
• using ATR × multiplier,
or
• as a percentage from the entry price.
█ FEATURES
1. Pivot Settings
• Pivot Length – number of candles required to confirm a pivot.
Lower values = more signals and faster pivot detection.
Higher values = stronger pivots but greater delay.
2. RSI Levels – Pivots
• RSI Overbought Level – minimum RSI level required for HIGH pivots
• RSI Oversold Level – maximum RSI level required for LOW pivots
This is the main pivot quality filter.
3. RSI Filters
Optional filter for blocking breakout signals:
• Enable signal blocking filter – enables the filter
• RSI Overbought (block BUY) – blocks BUY signals at very high RSI
• RSI Oversold (block SELL) – blocks SELL signals at very low RSI
4. Signal Settings
• Ability to select signal triangle size:
• Tiny
• Small
• Normal
5. Line Settings
• Delete broken lines after break – removes broken levels after breakout.
6. Colors
Full color customization for:
• HIGH levels,
• LOW levels,
• pivot price labels,
• BUY/SELL signals,
• line transparency.
Signal colors are also automatically synchronized with TP/SL levels and fill zones.
7. TP/SL Settings
• SL = ATR × or percentage from entry
• ATR Period
• ATR Multiplier
• SL %
• RR for TP1 / TP2 / TP3
Each TP can use its own RR multiplier.
8. TP/SL Display
Ability to individually enable:
• SL,
• TP1,
• TP2,
• TP3.
9. Position Visualization
The indicator automatically creates:
• entry line,
• SL line,
• TP lines,
• price labels,
• red risk zone,
• green reward zone.
When TP or SL is reached, all lines automatically stop extending.
█ APPLICATIONS
1. Local Structure Breakouts
The primary use of the indicator is trading breakouts of important local levels created by RSI-filtered pivots. A breakout may indicate a short-term market structure shift and the beginning of a new impulsive move in the breakout direction.
The best results usually occur when the breakout aligns with the dominant trend and is supported by increasing momentum. Before entering a position, it is worth additionally analyzing:
• the strength of the current move,
• higher timeframe trend direction,
• nearby support/resistance zones,
• available space for further price expansion.
2. Pivots as Important Market Levels
The pivots themselves can act as important reaction zones even without waiting for a breakout. Since the levels are additionally filtered by RSI, they often represent areas of local overbought or oversold market conditions.
Because of this, pivots can be used as:
• potential reaction zones,
• local support and resistance,
• profit-taking areas,
• price action and momentum observation zones.
In practice, the market often reacts to these levels multiple times before a final breakout occurs.
3. Position Management
Immediately after a signal appears, you can clearly see:
• defined risk level,
• potential RR,
• realistic targets,
• visual risk/reward relationship.
█ NOTES
• Small Pivot Length values generate more levels and more market noise.
• Large Pivot Length values create stronger levels but signals appear later.
• RSI is not used here as a classic entry oscillator, but as a pivot quality filter.
RSI Pivot Break System + TP/SL is a technical tool that detects RSI-filtered price pivots, draws support and resistance levels, and generates breakout signals together with a complete trade setup – Stop Loss and three Take Profit levels based on Risk-Reward ratios.
The indicator combines classic pivot analysis with RSI momentum filtering. As a result, signals appear only when local highs or lows are confirmed by overbought or oversold market conditions.
Filtering pivots through RSI can also reduce the time needed to detect important pivots. Pivots forming inside Overbought/Oversold zones often represent the ending phase of local impulsive moves, which is why the default pivot length is set to a low value of 2.
After a breakout occurs, the indicator automatically creates a complete position visualization:
• entry level,
• Stop Loss,
• TP1 / TP2 / TP3,
• risk and reward zones.
█ CONCEPTS
The indicator was designed as a combination of price action, pivot analysis, and RSI momentum within a single breakout system.
Classic pivots often generate too many low-significance levels. Here, every pivot must additionally be confirmed by RSI:
• a pivot HIGH is created only when RSI is inside the overbought zone,
• a pivot LOW is created only when RSI is inside the oversold zone.
This allows the indicator to focus only on more significant local market extremes.
Pivot High and Pivot Low
Local price highs and lows detected using a specified number of candles on both sides.
• Pivot HIGH creates a potential resistance level
• Pivot LOW creates a potential support level
Once detected, the indicator automatically draws a horizontal level extended to the right.
RSI Filter
A pivot is accepted only when RSI meets a specific condition:
• for HIGH pivots → RSI ≥ overbought level
• for LOW pivots → RSI ≤ oversold level
This helps filter out many weak or random pivots.
The number of detected pivots can additionally be adjusted by modifying the Overbought/Oversold levels:
• adjusting Overbought/Oversold levels allows you to increase or decrease the number of detected pivots.
Breakout
A signal appears when a level is broken:
• breakout above resistance → BUY
• breakout below support → SELL
After the breakout, the level can either:
• remain on the chart,
or
• be automatically removed.
RSI Signal Filter
An optional additional filter can block signals during extreme RSI conditions:
• BUY signals can be blocked when RSI is too high
• SELL signals can be blocked when RSI is too low
This helps avoid entries after heavily extended moves.
TP/SL with Risk-Reward
After every signal, the indicator automatically calculates:
• entry level (close price of the breakout candle),
• Stop Loss,
• three Take Profit levels based on selected RR ratios.
SL can be calculated:
• using ATR × multiplier,
or
• as a percentage from the entry price.
█ FEATURES
1. Pivot Settings
• Pivot Length – number of candles required to confirm a pivot.
Lower values = more signals and faster pivot detection.
Higher values = stronger pivots but greater delay.
2. RSI Levels – Pivots
• RSI Overbought Level – minimum RSI level required for HIGH pivots
• RSI Oversold Level – maximum RSI level required for LOW pivots
This is the main pivot quality filter.
3. RSI Filters
Optional filter for blocking breakout signals:
• Enable signal blocking filter – enables the filter
• RSI Overbought (block BUY) – blocks BUY signals at very high RSI
• RSI Oversold (block SELL) – blocks SELL signals at very low RSI
4. Signal Settings
• Ability to select signal triangle size:
• Tiny
• Small
• Normal
5. Line Settings
• Delete broken lines after break – removes broken levels after breakout.
6. Colors
Full color customization for:
• HIGH levels,
• LOW levels,
• pivot price labels,
• BUY/SELL signals,
• line transparency.
Signal colors are also automatically synchronized with TP/SL levels and fill zones.
7. TP/SL Settings
• SL = ATR × or percentage from entry
• ATR Period
• ATR Multiplier
• SL %
• RR for TP1 / TP2 / TP3
Each TP can use its own RR multiplier.
8. TP/SL Display
Ability to individually enable:
• SL,
• TP1,
• TP2,
• TP3.
9. Position Visualization
The indicator automatically creates:
• entry line,
• SL line,
• TP lines,
• price labels,
• red risk zone,
• green reward zone.
When TP or SL is reached, all lines automatically stop extending.
█ APPLICATIONS
1. Local Structure Breakouts
The primary use of the indicator is trading breakouts of important local levels created by RSI-filtered pivots. A breakout may indicate a short-term market structure shift and the beginning of a new impulsive move in the breakout direction.
The best results usually occur when the breakout aligns with the dominant trend and is supported by increasing momentum. Before entering a position, it is worth additionally analyzing:
• the strength of the current move,
• higher timeframe trend direction,
• nearby support/resistance zones,
• available space for further price expansion.
2. Pivots as Important Market Levels
The pivots themselves can act as important reaction zones even without waiting for a breakout. Since the levels are additionally filtered by RSI, they often represent areas of local overbought or oversold market conditions.
Because of this, pivots can be used as:
• potential reaction zones,
• local support and resistance,
• profit-taking areas,
• price action and momentum observation zones.
In practice, the market often reacts to these levels multiple times before a final breakout occurs.
3. Position Management
Immediately after a signal appears, you can clearly see:
• defined risk level,
• potential RR,
• realistic targets,
• visual risk/reward relationship.
█ NOTES
• Small Pivot Length values generate more levels and more market noise.
• Large Pivot Length values create stronger levels but signals appear later.
• RSI is not used here as a classic entry oscillator, but as a pivot quality filter.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.