This strategy enters long when a bullish candle closes above an EMA and its upper wick is no larger than a set percent of the candle range, and short on the opposite bearish setup. It closes a long after price rises a small fixed fraction above the entry bar o
Strategy · Pine Script v5 · On the chart
NakInvest Cross EMA With RSI Divergence
This strategy looks for three-candle patterns, namely the 123 pattern, PFR and engulfing candles, filtered by a trend of stacked EMAs, and adds an optional RSI divergence filter drawn as lines on the price chart.
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code222
Settings38inputs
LicenceNone stated
Last update1 year ago11 Oct 2025
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
Further optional filters use volume and a stochastic. Candle size rules are adjustable. Stop loss can sit below the candle body or wick, at a percentage or at a recent low, with take profit set by a risk-reward ratio or a percentage. It sizes positions by percent of equity.
- 123, PFR and engulfing candle patterns
- Optional RSI divergence filter
- Trend, volume and stochastic filters
- Selectable stop loss and take profit methods
- Long and short toggles
Details
Published by
feliperazeek on GitHub
Type
Draws
On the price chart
Category
Markets
Timeframes
M15-H1
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.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Use RSI Divergence Filter | bool | false | useRsiDivFilter |
| RSI Length | int | 14 | rsiLength |
| RSI Divergence Lookback | int | 20 | rsiDivLookback |
| Bullish Divergence Color | color | color.green | bulldivcol |
| Bearish Divergence Color | color | color.red | beardivcol |
| Divergence Line Width | int | 1 | divwidth |
| Min Candle 1 Size (absolute units) | float | 0.1 | minCandle1Size |
| Min Candle 2 Body Size as % of Candle 1 | float | 0.1 | minCandle2Pct |
| Max Candle 2 Body Size as % of Candle 1 | float | 0.5 | maxCandle2Pct |
| Min Candle 3 Body Size as % of Candle 1 | float | 0.6 | minCandle3Pct |
| Max Candle 3 Body Size as % of Candle 1 | float | 1.5 | maxCandle3Pct |
| Enable Long Positions | bool | true | enableLong |
Show all 38 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Enable Short Positions | bool | true | enableShort |
| Use Trend Filter | bool | true | useTrendFilter |
| Use Volume Filter | bool | false | useVolumeFilter |
| Minimum Volume Multiplier | float | 1.5 | minVolume |
| Use Stochastic Filter | bool | false | useStochFilter |
| Stochastic Length | int | 21 | stochLength |
| Stoch Overbought | float | 50 | stochOverbought |
| Stoch Oversold | float | 50 | stochOversold |
| Take Profit Type | string | RR-Based | tpType |
| Take Profit Ratio (vs SL) | float | 1.0 | profitTargetRR |
| Take Profit % From Entry | float | 1.0 | tpPercent |
| Stop Loss Type | string | Below Candle Wick | slType |
| Stop Loss % | float | 1.0 | slPercent |
| Number of Candles for Lowest Low | int | 10 | slCandlesLookback |
| Price Comparison Buffer (%) | float | 0.001 | priceBufferPct |
| Enable 123 Pattern | bool | true | enable123 |
| Enable PFR Pattern | bool | true | enablePFR |
| Enable Engulfing Pattern | bool | true | enableEngulfing |
| Use MACD Confirmation | bool | false | useMacdConfirmation |
| MACD Fast Length | int | 12 | macdFastLength |
| MACD Slow Length | int | 26 | macdSlowLength |
| MACD Signal Length | int | 9 | macdSignalLength |
| MA Type | string | EMA | maType |
| Fast MA Length | int | 9 | fastLength |
| Medium MA Length | int | 40 | mediumLength |
| Slow MA Length | int | 80 | slowLength |
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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