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
Charles' RSI Strategy
This overlay strategy combines RSI, which can be read from another timeframe, with fast and slow exponential moving averages.
GitHub stars5on the repository
Pine versionv4older, still runs
Lines of code366
Settings12inputs
LicenceNone stated
Last update2 years ago12 May 2024
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 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
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Charles' RSI Strategy sequences overbought and oversold crosses with returns into a base zone, optionally counting those events only when the moving-average trend agrees. A user setting chooses how many such signals must occur before an entry, and another allows a secondary entry while pyramiding is set to two. Further inputs select a higher-timeframe ATR multiplier and the price point used for that increment. No stop loss appears in the supplied settings, and the visible code does not define exits.
- Higher-timeframe RSI length and thresholds
- Fast and slow EMA trend filter
- Counted overbought and oversold sequences
- Optional secondary entries with pyramiding
- Higher-timeframe ATR increment inputs
Details
Published by
jerryinyang on GitHub
Type
Strategy, Pine Script v4
Draws
On the price chart
Category
Oscillators & momentum, Moving averages
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- The strategy can add several entries in the same direction
- The strategy enters trades without a stop loss
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| RSI Timeframe | timeframe | | rsiRes |
| RSI Length | int | 14 | rsiLen |
| RSI Overbought | int | 70 | i_rsiOb |
| RSI Oversold | int | 30 | i_rsiOs |
| Fast MA Lenght | int | 20 | fastMaLen |
| Slow MA Lenght | int | 50 | slowMaLen |
| Apply EMA Rule When Counting Each Overbought/Oversold? | bool | true | useEmaForCount |
| How many Overbought/Oversold Signals Before Entries? | int | 4 | obosInRow |
| Take Secondary Entries? | bool | false | take2Entry |
| Increment ATR Timeframe | timeframe | D | incHtf |
| Point of Increment ATR Calculation | string | OB/OS Price | incPoint |
| ATR Multiplier | float | 1 | incAtrMult |
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.
Similar Pine Scripts
This strategy plots on the price chart and opens long or short positions when a weighted score from MACD, Stochastic RSI, RSI, Supertrend and a moving-average crossover exceeds a user-set trigger. Each component has its own weight and candle delay. Entries can
This strategy combines Arnaud Legoux Moving Average percentage price change calculations with an adaptive Gaussian Moving Average to generate trend-following signals. Long and short entries are triggered when the ALMA change calculation crosses above or below
This overlay strategy is built around MACD inputs for a fast average, a slow average, and a signal line. Comments say the script keeps MACD values available and can draw a histogram and zero line in a separate pane, with an optional overlay on price. Settings
255 EMA Strategy combines an exponential moving average with Average True Range bands and standard MACD crossovers to generate entry signals. Drawn directly on the price chart, it plots the central 255 EMA along with upper and lower volatility envelopes. Trade
This overlay strategy combines a machine-learning distance model with a MACD oscillator to open trades on the price chart. It compares recent history using cosine similarity or Euclidean and Lorentzian distance, then filters direction with selectable moving-av
Trade Your Charts With a Regulated Broker
Compare brokers that connect to TradingView, with spreads, minimum deposits and leverage side by side.
Compare brokers