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
RSI MACD
This strategy enters long positions based on momentum confirmation from RSI and MACD, operating directly on the main price chart.
GitHub stars5on the repository
Pine versionv4older, still runs
Lines of code21
Settings0inputs
LicenceCC0-1.0
Last update5 years ago13 Feb 2021
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
21 lines of Pine Script v4 from rsi-macd.pine, published under CC0-1.0. 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/
// © udayadds
//@version=4
strategy("RSI MACD", overlay=true, default_qty_type = strategy.percent_of_equity, default_qty_value = 25, initial_capital=100000, slippage=5, commission_type=strategy.commission.cash_per_order, commission_value=20, pyramiding=0)
strategy.risk.max_drawdown(20, strategy.percent_of_equity)
inDateRange = (time >= timestamp(syminfo.timezone, 2010, 1, 1, 0, 0)) and (time < timestamp(syminfo.timezone, 2019, 12, 31, 0, 0))
rsi = rsi(close, 14)
ema = ema(close, 28)
[macdLine, signalLine, histLine] = macd(close, 12, 26, 9)
rsiPlot = plot(rsi, title = "rsi", color=color.red)
// signalPlot = plot(signalLine, title = "Signal", color=color.green)
// macdPlot = plot(macdLine, title = "MACD", color=color.blue)
emaPlot = plot(ema, title="Ema", color=color.yellow)
if (inDateRange)
strategy.entry(id="long", long=true, when=rsi>60 and macdLine > signalLine)
strategy.close(id="long", when=close<ema and rsi<45)
Overview
RSI MACD buys when the 14-period RSI exceeds 60 while the MACD line trades above the signal line. Positions close when the price crosses below a 28-period exponential moving average and RSI drops below 45. The code sizes trades at twenty-five percent of equity. Notable constraints include a hardcoded date filter spanning 2010 through 2019, lack of a predefined stop loss, and plotting an oscillator directly on the price chart.
- RSI and MACD momentum entry filter
- EMA and RSI conditional exit mechanism
- Fixed 2010 to 2019 historical date window
- Twenty-five percent equity position sizing
Details
Published by
sawantuday on GitHub
Code credit
udayadds, as written in the script's header
Type
Strategy, Pine Script v4
Draws
On the price chart
Category
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- The strategy enters trades without a stop loss
File
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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