1Copy the scriptPress Copy script above, or the copy button on the code below.
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
91 lines of Pine Script v6 from week 3/mtf_trend_guardian.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
MTF Trend Guardian goes long when price is above the previous higher-timeframe EMA and RSI crosses above its long threshold, and short in the mirror case. Positions close when RSI falls below or rises above set exit levels. The higher timeframe, EMA length and RSI levels are adjustable. Sizing is ten percent of equity, and there is no stop loss or take profit.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Higher Timeframe
timeframe
1D
htfTimeframeInput
HTF EMA Length
int
50
htfLengthInput
RSI Length
int
14
rsiLengthInput
RSI Long Threshold
float
50.0
rsiLongThreshold
RSI Short Threshold
float
50.0
rsiShortThreshold
RSI Exit Level for Long
float
40.0
rsiExitLongLevel
RSI Exit Level for Short
float
60.0
rsiExitShortLevel
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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