Strategy · Pine Script v5 · On the chart

EMA Crossover With Percentage Stop and Target

by kritarth2121· code credited to Dynamictradingstrategies

This strategy enters long when a 13-period EMA crosses above a 34-period EMA and short when it crosses below, and closes on the opposite cross.

View on GitHub

GitHub stars1on the repository
Pine versionv5runs as is
Lines of code62
Settings6inputs
LicenceNone statedfile: MPL-2.0
Last update2 years ago10 Dec 2023

Add It to Your TradingView Chart

  1. 1Copy the scriptPress Copy script above, or the copy button on the code below.
  2. 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
  3. 3Paste over the templateCreate a new strategy, select all of the template text and paste. Press Save and give it a name.
  4. 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

62 lines of Pine Script v5 from EMA crossover + fix per stoploss & Target - Custom.txt, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.

EMA crossover + fix per stoploss & Target - Custom.txt
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © Dynamictradingstrategies

//@version=5
strategy("EMA CROSSOVER WITH PERCENTAGE BASED STOP & TAREGT - v1.0", overlay = true)

/// INPUT CONTROLS 

EMA_L = input.int(title =  "EMA_L", defval = 13, minval = 1,maxval = 100, step = 1)
EMA_L2 = input.int(title =  "EMA_L2", defval = 34, minval = 1,maxval = 100, step = 1)

long_stop = input.float(title =  "long_stop", defval = 0.01, minval = 0.001,maxval = 100.00, step = 0.001)
short_stop = input.float(title =  "short_stop", defval = 0.01, minval = 0.001,maxval = 100.00, step = 0.001)

long_target = input.float(title =  "long_target", defval = 0.01, minval = 0.001,maxval = 100.00, step = 0.001)
short_target = input.float(title =  "short_target", defval = 0.01, minval = 0.001,maxval = 100.00, step = 0.001)


/// trading indicators 

EMA1 = ta.ema(close,EMA_L)
EMA2 = ta.ema(close,EMA_L2)

long_stop_buy   = strategy.position_avg_price * ( 1  - long_stop )
short_stop_sell = strategy.position_avg_price * ( 1  + short_stop )

long_target_buy   = strategy.position_avg_price * ( 1  + long_target )
short_target_sell = strategy.position_avg_price * ( 1  - short_target )


BUY = ta.crossover(EMA1,EMA2)
SELL = ta.crossunder(EMA1,EMA2)

BUYEXIT = ta.crossunder(EMA1,EMA2)
SELLEXIT = ta.crossover(EMA1,EMA2)


// STRATEGY LONG
if strategy.position_size <= 0 
    strategy.entry("long", strategy.long, when = BUY, comment = "BUY")
    
if strategy.position_size > 0
    strategy.close("long", when = BUYEXIT, comment = "BE")
    strategy.exit("long", from_entry = 'long', stop = long_stop_buy,limit = long_target_buy, comment = "EXIT")

// STRATEGY SHORT
if strategy.position_size >= 0 
    strategy.entry("short", strategy.short, when = SELL, comment = "SELL")
    
if strategy.position_size < 0 
    strategy.close("short", when = SELLEXIT, comment = "SE")
    strategy.exit("short", from_entry = 'short', stop = short_stop_sell, limit = short_target_sell, comment = "EXIT" )


plot(EMA1, color = color.new(color.red,0))
plot(EMA2, color = color.new(color.green,0))

plot(strategy.position_size > 0 ? long_stop_buy : na, style = plot.style_linebr)
plot(strategy.position_size > 0 ? long_target_buy : na, style = plot.style_linebr,color = color.new(color.green,0))

plot(strategy.position_size < 0 ? short_stop_sell : na,style = plot.style_linebr)
plot(strategy.position_size < 0 ? short_target_sell : na,style = plot.style_linebr,color = color.new(color.green,0))

Overview

While in a trade, it places a stop loss and a take profit at fixed percentages of the average entry price, set separately for longs and shorts, both one percent by default. The EMAs, stop and target lines are plotted on the price chart. There is no session filter or position sizing logic beyond defaults.

Details

Published by

kritarth2121 on GitHub

Code credit

Dynamictradingstrategies, as written in the script's header

Type

Strategy, Pine Script v5

Draws

On the price chart

Category

Moving averages, Trend

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.

SettingTypeDefaultVariable
EMA_Lint13EMA_L
EMA_L2int34EMA_L2
long_stopfloat0.01long_stop
short_stopfloat0.01short_stop
long_targetfloat0.01long_target
short_targetfloat0.01short_target
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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