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 strategy plots on the price chart and looks for a sequence of RSI overbought or oversold crosses before it can enter.
Repaints
GitHub stars5on the repository
Pine versionv4older, still runs
Lines of code395
Settings15inputs
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 calculates RSI on a selectable timeframe and compares a fast EMA with a slow EMA, optionally requiring the same moving-average condition for every counted signal. Users set RSI length, overbought and oversold levels, base-zone lines, the number of signals required, and whether a secondary entry is allowed. An ATR multiplier and higher-timeframe setting are inputs. No stop loss is defined in the supplied code, and the script is truncated before exit logic appears.
- Selectable-timeframe RSI
- Fast and slow EMA filter
- Overbought and oversold sequence counter
- Optional secondary entries
- Higher-timeframe ATR increment input
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
- Signals can change on the live bar or after it closes (repainting)
- Reads higher-timeframe data with lookahead on, so the history can show signals that were not there in real time
- 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 | 72 | i_rsiOb |
| RSI Oversold | int | 28 | i_rsiOs |
| Overbought Base Line | float | 55 | obBaseZn |
| Oversold Base Line | float | 45 | osBaseZn |
| Fast MA Lenght | int | 20 | fastMaLen |
| Slow MA Lenght | int | 50 | slowMaLen |
| Use Only One EMA Condition for all OB/OS? | bool | true | useEmaObOsFilter |
| 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 |
Show all 15 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| 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.
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