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
MACD Breakout Strategy
This strategy evaluates breakout and trend-continuation signals using a higher-timeframe MACD and Stochastic RSI filter.
GitHub stars5on the repository
Pine versionv4older, still runs
Lines of code314
Settings17inputs
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
MACD Breakout Strategy calculates MACD fast and slow exponential moving averages alongside Stochastic RSI overbought and oversold thresholds to identify histogram momentum shifts. Entries are executed on price charts with risk management governed by an ATR-based dynamic stop loss and a customizable reward-to-risk ratio target. The strategy processes higher-timeframe data via security functions, which may dynamically adjust signal calculations on open real-time bars.
- Higher timeframe MACD calculation
- Stochastic RSI momentum filter
- ATR-based dynamic stop loss
- Risk-to-reward ratio target exit
Details
Published by
jerryinyang on GitHub
Type
Strategy, Pine Script v4
Draws
On the price chart
Category
Markets
Any symbol
Timeframes
M15-H1, H4 and above
Risk Notes
- The strategy can add several entries in the same direction
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| MACD TimeFrame | timeframe | 120 | htfRes |
| MACD Fast MA | int | 8 | macdflen |
| macd Slow MA | int | 17 | macdslen |
| MACD signal Line | int | 9 | siglen |
| Gaps | bool | true | gaps |
| Use Filter | bool | false | useFilt |
| Use Macd Zero Line Filter | bool | true | useMacdFilt |
| Stoch RSI Timeframe | timeframe | 120 | stRsiRes |
| K | int | 3 | smoothK |
| D | int | 3 | smoothD |
| RSI Length | int | 14 | lengthRSI |
| Stochastic Length | int | 14 | lengthStoch |
Show all 17 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| RSI Overbought | int | 80 | filtOb |
| RSI Oversold | int | 20 | filtOs |
| SL ATR Length | int | 14 | slAtrLen |
| Multiplier | float | 1 | slAtrMult |
| Reward-Risk Ratio | float | 1.5 | rrr |
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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