This strategy enters long when a faster moving average crosses above a slower one and short when it crosses below, unless long-only mode is on. An optional volume filter requires volume above a 20-bar average times a multiplier. Exits use a percentage stop los
Strategy · Pine Script v4 · On the chart
4x EMA + Volume
This strategy plots four exponential moving averages on the price chart and filters trades with a smoothed Ease of Movement oscillator.
GitHub stars106on the repository
Pine versionv4older, still runs
Lines of code31
Settings8inputs
LicenceGPL-3.0
Last update2 years ago18 Sep 2024
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
31 lines of Pine Script v4 from 4X EMA and volume strategy.pine, published under GPL-3.0. 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/
// © SoftKill21
//@version=4
strategy("4x ema + volume", overlay=true,initial_capital = 1000, default_qty_type=strategy.percent_of_equity, default_qty_value=100, commission_type=strategy.commission.percent , commission_value=0.1 )
//ema x 4
ema1l=input(13)
ema2l=input(21)
ema3l=input(50)
ema4l=input(180)
ema1=ema(close,ema1l)
ema2=ema(close,ema2l)
ema3=ema(close,ema3l)
ema4=ema(close,ema4l)
long1 = close > ema1 and ema1 > ema2 and ema2> ema3 and ema3 > ema4
long2 = crossover(ema1,ema2) and crossover(ema1,ema3)
short1 = close < ema1 and ema1 < ema2 and ema2< ema3 and ema3 < ema4
short2= crossunder(ema1,ema2) and crossunder(ema1,ema3)
//eom
length = input(14, minval=1)
div = input(10000, title="Divisor", minval=1)
eom = sma(div * change(hl2) * (high - low) / volume, length)
option1=input(true)
option2=input(false)
if(option1)
strategy.entry("long",1,when=long1 and eom>0)
strategy.close("long",when=short1 and eom<0)
if(option2)
strategy.entry("long",1,when=long2 and eom>0)
strategy.close("long",when=short2 and eom<0)
Expand (40 lines)
Overview
In the default mode it opens a long when price and the four averages are stacked upward and Ease of Movement is positive, then closes that long when the stack is inverted and Ease of Movement is negative. An optional mode uses dual EMA crossovers instead of the full stack. Lengths, the oscillator period and divisor, and the mode switches are inputs. It sizes positions as a share of equity and has no stop loss.
- Four EMA stack filter
- Ease of Movement confirmation
- Optional dual-crossover mode
- Long-only signal exits
- Equity-based position sizing
Details
Published by
hasnocool on GitHub
Code credit
SoftKill21, as written in the script's header
Type
Strategy, Pine Script v4
Draws
On the price chart
Category
Trend, Moving averages, Volume
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- The strategy enters trades without a stop loss
Topics
analysisbtcusdtcryptocurrencydatapandaspythonsimulationtradingtradingview
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| ema1l | int | 13 | ema1l |
| ema2l | int | 21 | ema2l |
| ema3l | int | 50 | ema3l |
| ema4l | int | 180 | ema4l |
| length | int | 14 | length |
| Divisor | int | 10000 | div |
| option1 | bool | true | option1 |
| option2 | bool | false | option2 |
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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