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 v5 · On the chart
Swing Trading Strategy With 1:2 RR
This strategy enters long when a 14-period RSI crosses above 60 and short when it crosses below 40, but only while ADX is under 20.
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code47
Settings5inputs
LicenceNone statedfile: MPL-2.0
Last update2 years ago10 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
47 lines of Pine Script v5 from Swing trading strategy with 1 2 RR.txt, published under MPL-2.0 (file header). 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/
// © Dynamictradingstrategies
//@version=5
strategy("SWING TRADING STRATEGY WITH 1:2 RR", overlay = true)
RSI_l = input.int(title = "RSI_L", defval = 14)
LONGSTOP = input.int(title = "LONGSTOP", defval = 75)
LONGTGT = input.int(title = "LONGTGT", defval = 150)
SHORTSTOP = input.int(title = "SHORTSTOP", defval = 75)
SHORTTARGET = input.int(title = "SHORTTARGET", defval = 150)
//// TRADING INDICATORS
RSI = ta.rsi(close,RSI_l)
LS = strategy.position_avg_price - LONGSTOP
LT = strategy.position_avg_price + LONGTGT
SS = strategy.position_avg_price + SHORTSTOP
ST = strategy.position_avg_price - SHORTTARGET
/// buy and sell rules
[diplus, diminus, adx] = ta.dmi(14, 14)
buy = ta.crossover(RSI,60) and adx < 20
short = ta.crossunder(RSI,40) and adx < 20
/// strategy
strategy.entry("long", direction = strategy.long, when = buy, comment = "BUY")
strategy.exit("long", from_entry = "long", stop = LS, limit =LT, comment = "TG/SL_EXIT" )
strategy.entry("short", direction = strategy.short, when = short, comment = "SHORT")
strategy.exit("short", from_entry = "short", stop = SS, limit = ST, comment = "TG/SL_EXIT")
plot(strategy.position_size > 0 ? LS : na, style = plot.style_linebr, color = color.red )
plot(strategy.position_size > 0 ? LT : na, style = plot.style_linebr, color = color.green )
plot(strategy.position_size < 0 ? SS : na, style = plot.style_linebr, color = color.red )
plot(strategy.position_size < 0 ? ST : na, style = plot.style_linebr, color = color.green )
Overview
Each trade carries a fixed point-distance stop loss of 75 and take profit of 150 from the average entry price, giving a one to two ratio, with separate inputs for long and short. Stop and target levels are plotted on the price chart. The point values are not scaled to volatility or price level.
- RSI cross of 60 and 40 entries
- ADX ceiling filter
- Fixed-point stop loss and take profit
- Stop and target lines on the chart
Details
Published by
kritarth2121 on GitHub
Code credit
Dynamictradingstrategies, as written in the script's header
Type
Draws
On the price chart
Category
Markets
Any symbol
Timeframes
H4 and above
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 |
|---|---|---|---|
| RSI_L | int | 14 | RSI_l |
| LONGSTOP | int | 75 | LONGSTOP |
| LONGTGT | int | 150 | LONGTGT |
| SHORTSTOP | int | 75 | SHORTSTOP |
| SHORTTARGET | int | 150 | SHORTTARGET |
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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