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
My Strategy
This strategy plots five exponential moving averages of typical price on the price chart and treats a fully ordered stack as a trend signal.
GitHub stars11on the repository
Pine versionv4older, still runs
Lines of code49
Settings1inputs
LicenceMIT
Last update2 years ago11 Dec 2023
Add It to Your TradingView Chart
- 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
49 lines of Pine Script v4 from strategy/myStrategy.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © yesgoods
//@version=4
// Strategy {
strategy("My Strategy", overlay=true)
// Variables {
ema1 = ema(hlc3, 1)
ema2 = ema(hlc3, 5)
ema3 = ema(hlc3, 10)
ema4 = ema(hlc3, 21)
ema5 = ema(hlc3, 55)
//}
src = input(title="Source", type=input.source, defval=close)
long = (ema1 > ema2) and (ema2 > ema3) and (ema3 > ema4) and (ema4 > ema5) or crossover(rsi(close, 14), 60.5)
short = (ema1 < ema2) and (ema2 < ema3) and (ema3 < ema4) and (ema4 < ema5) or crossunder(rsi(close, 14), 40.5)
longCondition = long and long[2] and not long[3]
shortCondition = short and short[2] and not short[3]
closeLong = (ema1 > ema2) or crossover(rsi(close, 14), 60.5) and not long[4]
closeShort = (ema1 < ema2) or crossunder(rsi(close, 14), 40.5) and not short[4]
start = timestamp(2001, 1, 1, 0, 0)
end = timestamp(2022, 1, 1, 0, 0)
if time >= start and time <= end
strategy.entry("Long", strategy.long, 25.0, when = longCondition)
strategy.entry("Short", strategy.short, 25.0, when =shortCondition)
strategy.exit("exit", "", profit = 500, loss = 50)
strategy.close("Long", when = closeShort)
strategy.close("Short", when = closeLong)
// Design {
p_1 = plot(ema1, title="1", color=color.blue)
p_2 = plot(ema2, title="2", color=color.green)
p_3 = plot(ema3)
p_4 = plot(ema4)
p_5 = plot(ema5)
fill(p_1, p_2, color= color.green)
daily = timeframe.isdaily
//}
Overview
My Strategy enters long when the averages rise in order or when the 14-period RSI crosses above 60.5, and short on the opposite stack or an RSI cross under 40.5, only after a two-bar confirmation. Entries use a fixed quantity inside a fixed date window. A shared exit sets a tick profit target and stop loss, and opposite conditions close the other side. The source input is unused by the averages.
- Five EMA stack on typical price
- RSI crossover entry conditions
- Two-bar confirmation filter
- Fixed quantity of 25
- Tick profit target and stop
Details
Published by
hirawatt on GitHub
Code credit
yesgoods, as written in the script's header
Type
Strategy, Pine Script v4
Draws
On the price chart
Category
Trend, Moving averages, Oscillators & momentum
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.
Topics
pinescriptpinescript-indicatorspinescript-strategiestradingview
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Source | source | close | src |
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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