This overlay indicator generates buy and sell signal labels on the price chart by combining MACD crossovers with an RSI threshold filter, a 21-period EMA trend filter, and a volume multiplier condition.
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 indicator, select all of the template text and paste. Press Save and give it a name.
4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
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
When a valid signal triggers, it calculates and plots suggested stop-loss and take-profit target levels based on Average True Range multipliers. Inputs allow users to adjust all MACD, RSI, volume filter, and ATR settings according to their preferences.
MACD crossover signals with RSI threshold filter
EMA trend and volume expansion filter
ATR-based dynamic stop-loss and take-profit calculation
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
MACD Fast
int
12
fastLen
MACD Slow
int
26
slowLen
MACD Signal
int
9
signalLen
RSI Length
int
14
rsiLen
RSI Buy Filter
int
52
rsiBuy
RSI Sell Filter
int
48
rsiSell
EMA Trend
int
21
emaLen
ATR Length
int
14
atrLen
SL ATR Multiplier
float
1.0
slATR
TP ATR Multiplier
float
1.5
tpATR
Volume SMA
int
20
volLen
Volume Factor
float
1.2
volFactor
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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