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
SlimTrades 4h
A Pine v4 strategy using a 12/26 MACD, a 14-period RSI, a five-bar SMA and fast and slow rolling high and low lookbacks of five and forty-eight bars.
GitHub stars1on the repository
Pine versionv4older, still runs
Lines of code244
Settings15inputs
LicenceNone stated
Last update4 years ago2 Dec 2021
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
Inputs set trailing-stop percentages for both sides, RSI bottom and top levels, a highest MACD close level, adds on lows and reopening on new highs. Shorts are disabled in the code, so it is long only. Slow lines can be shown or hidden.
- Percentage trailing stops
- RSI bottom and top level inputs
- Add on lows and reopen on highs options
- Long-only as written
Details
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Max Days Back to Test | int | 30 | daysBackMax |
| Show Slow? | bool | true | showSlow |
| Trail Long Loss (%) | float | 3 | longTrailPerc |
| Trail Short Loss (%) | float | 3 | shortTrailPerc |
| SMA | int | 5 | smaClose |
| Hi Low Short | int | 5 | hiLowFast |
| Hi Low Long | int | 48 | hiLowSlow |
| Highest MACD Close Long | int | 81 | macdCloseLong |
| Close Long In Short Zone RSI | int | 80 | closeLongInShortZone |
| RSI Bottomed RSI | int | 35 | rsiBottomedRsi |
| RSI Topped RSI | int | 65 | rsiToppedRsi |
| MACD Bars | int | 30 | macdLength |
Show all 15 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Add On Lows? | bool | true | addOnLows |
| Reopen on new highs? | bool | false | reopenOnHighs |
| Fast Macd Longs? | bool | true | allowFastMacdLongs |
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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