This strategy generates trading signals on the 5-minute price chart using Williams Fractals for trend reversals, combined with EMA fast and slow trend filters and optional RSI confirmation. Long entries trigger on bullish fractals aligned with rising EMA and R
Strategy · Pine Script v6 · On the chart
Scalping for S50
This strategy plots three EMAs (fast length 8, mid 21, slow 55) on the price chart to identify trend direction.
GitHub stars1on the repository
Pine versionv6current
Lines of code81
Settings9inputs
LicenceNone stated
Last update1 year ago29 Apr 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
Scalping for S50 signals long entries in aligned bull trends confirmed by RSI above 50 and bullish MACD during trading hours, entering when price rises above the prior entry by pyramid spacing (ATR multiplier 0.75). Short signals trigger on bear trends with opposite filters. Position size scales with equity risk percent divided by ATR. It pyramids entries up to five orders and exits with ATR-based take profit (2x) and stop loss (1x), plus trailing stop (0.5x ATR). All positions close at end of day. Settings control EMA periods, ATR multiples for entries/exits, max orders, and per-trade risk. It draws on the price chart for scalping.
- EMA trend filter
- ATR pyramid spacing
- RSI MACD confirmation
- risk based sizing
- EOD close
Details
Published by
lumduan on GitHub
Type
Strategy, Pine Script v6
Draws
On the price chart
Category
Scalping, Trend, Moving averages, Oscillators & momentum
Markets
Any symbol
Timeframes
M1-M5, M15-H1
Risk Notes
- The strategy can add several entries in the same direction
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Fast EMA | int | 8 | fast_len |
| Mid EMA | int | 21 | mid_len |
| Slow EMA | int | 55 | slow_len |
| ATR Length | int | 14 | atr_len |
| Pyramiding Distance (x ATR) | float | 0.75 | atr_mult |
| Take Profit Multiplier (x ATR) | float | 2.0 | tp_mult |
| Stop Loss Multiplier (x ATR) | float | 1.0 | sl_mult |
| Max Pyramiding Orders | int | 5 | max_orders |
| Risk % per Trade | float | 1.0 | risk_pct |
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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