2 EMA/SMA + RSI Strategy [Alorse] combines three configurable moving averages with a short-period Relative Strength Index filter. It plots fast, slow, and trend moving averages on the price chart. Long entries trigger when the fast moving average is above the
Strategy · Pine Script v4 · On the chart
2 EMAs + RSI + Stochastic Long Strategy
This strategy draws on the price chart and defines a long setup when the 50-period EMA is above the 200-period EMA, price is above the faster EMA, RSI is below 50, and stochastic %K crosses above %D.
GitHub stars5on the repository
Pine versionv4older, still runs
Lines of code119
Settings9inputs
LicenceApache-2.0
Last update3 years ago12 May 2023
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new strategy, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart. The trades and results appear in the Strategy Tester tab; adjust the settings with the gear icon.
Source Code
119 lines of Pine Script v4 from 2_EMA+RSI+Stochastic/2_EMA+RSI+Stochastic_Long_Strategy.txt, published under Apache-2.0. Keep the author's credit and licence lines when you reuse it.
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © krosenfeld7
//@version=4
strategy("2 EMAs + RSI + Stochastic Long Strategy", overlay = true, pyramiding = 0,
margin_long = 100, margin_short = 100,
default_qty_type = strategy.percent_of_equity,
default_qty_value = 20, initial_capital = 2000,
process_orders_on_close = true)
// Set the starting point for backtesting
start = input(title = "Backtesting Start", type = input.time,
defval = timestamp("1 Jan 2015"))
maxTimeOpen = input(title = "Order Expiration", type = input.integer,
defval = 100, minval = 1)
tpSlStrategy = input(title = "Take Profit Strategy", type = input.string,
defval = "Percent", options = ["Percent", "ATR"])
trailingStop = input(title = "Trailing Stop", type = input.string,
defval = "Fixed", options = ["Fixed", "Trail"])
// ATR For Stop Loss
atrLength = input(title = "ATR SL Length", defval = 14,
minval = 1)
atrMultiplier = input(title = "ATR Multiplier", type = input.float,
defval = 1, minval = 0.1)
riskLevel = input(title = "Risk Level", type = input.float,
defval = 1, minval = 0.1)
longProfitPercent = input(title = "Take Profit %",
type = input.float, minval = 0.0, step = 0.1, defval = 10) / 100
longLossPercent = input(title = "Stop Loss %",
type = input.float, minval = 0.0, step = 0.1, defval = 10) / 100
// Algorithm / Strategy Goes here
// Set long variables to execute positions below
ema50 = ema(close, 50)
ema200 = ema(close, 200)
emaLong = ema50 > ema200 and close > ema50
emaShort = ema50 < ema200 and close < ema50
k = sma(stoch(close, high, low, 14), 3)
d = sma(k, 3)
stoLong = crossover(k, d)
stoShort = crossover(d, k)
up = rma(max(change(close), 0), 14)
down = rma(-min(change(close), 0), 14)
rsi = down == 0 ? 100 : up == 0 ? 0 : 100 - (100 / (1 + up / down))
rsiLong = rsi < 50
rsiShort = rsi > 50
long = emaLong and stoLong and rsiLong
short = emaShort and stoShort and rsiShort
// End Algorithm
longExitPrice = 0.0
longStopPrice = 0.0
// Calculating exact prices for stop loss and exit prices
longExitPercentPrice = strategy.position_avg_price * (1 +
(longProfitPercent * riskLevel))
longStopPercentPrice = strategy.position_avg_price * (1 -
longLossPercent)
// Profit & Loss via ATR
atr = atr(atrLength)
atr := valuewhen(strategy.position_size == 0, atr, 0)
longExitAtrPrice = strategy.position_avg_price + (atr *
atrMultiplier * riskLevel)
longStopAtrPrice = strategy.position_avg_price - (atr *
atrMultiplier)
if tpSlStrategy == "Percent"
longExitPrice := longExitPercentPrice
if trailingStop == "Fixed"
longStopPrice := longStopPercentPrice
else if trailingStop == "Trail"
stopValue = close * (1 - longLossPercent)
longStopPrice := (strategy.position_size > 0) ?
max(stopValue, longStopPrice[1]) : 0
else if tpSlStrategy == "ATR"
if strategy.position_size > 0
longExitPrice := longExitAtrPrice
if trailingStop == "Fixed"
longStopPrice := longStopAtrPrice
else if trailingStop == "Trail"
stopValue = close - (atr * atrMultiplier)
longStopPrice := (strategy.position_size > 0) ?
max(stopValue, longStopPrice[1]) : 0
// Plotting profit / loss targets
plot(series = (strategy.position_size > 0) ? longExitPrice : na,
color = color.green, style = plot.style_linebr,
linewidth = 3, title = "Long Target")
plot(series = (strategy.position_size > 0) ? longStopPrice : na,
color = color.red, style = plot.style_linebr,
linewidth = 3, title = "Long Stop Loss")
// Submit entry orders
if time >= start
strategy.entry(id = "Long", long = strategy.long,
comment = "Long Open", when = long)
// Submit exit orders
strategy.exit(id = "Long", limit = longExitPrice, stop = longStopPrice,
comment = "Long Close", when = strategy.position_size > 0)
strategy.close(id = "Long", comment = "Expired: >" + tostring(maxTimeOpen),
when = (barssince(change(strategy.opentrades)) + 1) >= maxTimeOpen)
Overview
Entries use a percentage of equity. Take profit and stop loss can be set as a percentage or from ATR, with a fixed or trailing stop, and a risk multiplier scales the profit target. Matching short conditions are calculated, while the shown exit prices apply to long positions.
- 50 and 200 EMA trend filter
- RSI and stochastic entry confluence
- Percent or ATR take profit and stop
- Fixed or trailing stop choice
- Percent-of-equity position sizing
Details
Published by
krosenfeld7 on GitHub
Type
Strategy, Pine Script v4
Draws
On the price chart
Category
Trend, Oscillators & momentum, Moving averages
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Backtesting Start | time | timestamp("1 Jan 2015") | start |
| Order Expiration | int | 100 | maxTimeOpen |
| Take Profit Strategy | string | Percent | tpSlStrategy |
| Trailing Stop | string | Fixed | trailingStop |
| ATR SL Length | int | 14 | atrLength |
| ATR Multiplier | float | 1 | atrMultiplier |
| Risk Level | float | 1 | riskLevel |
| Take Profit % | float | 10 | longProfitPercent |
| Stop Loss % | float | 10 | longLossPercent |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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