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
Tendency EMA + RSI [Alorse]
This strategy plots three exponential moving averages on the price chart and uses RSI for exits.
GitHub stars4on the repository
Pine versionv5runs as is
Lines of code56
Settings9inputs
LicenceNone statedfile: MPL-2.0
Last update1 year ago5 Apr 2025
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
56 lines of Pine Script v5 from pinescript-strategies/strategies/Tendency EMA + RSI.pine, 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/
//@author Alorse
//@version=5
strategy(title='Tendency EMA + RSI [Alorse]', shorttitle='Tendece EMA + RSI [Alorse]', overlay=true, pyramiding=0, currency=currency.USD, default_qty_type=strategy.percent_of_equity, initial_capital=1000, default_qty_value=10, commission_type=strategy.commission.percent, commission_value=0.1)
// Bollinger Bands
len = input.int(14, minval=1, title='Length', group='RSI')
src = input.source(close, 'Source', group='RSI')
rsi = ta.rsi(src, len)
// Moving Averages
len_a = input.int(10, minval=1, title='EMA A Length', group='Moving Averages')
out_a = ta.ema(close, len_a)
plot(out_a, title='EMA A', color=color.purple)
len_b = input.int(20, minval=1, title='EMA B Length', group='Moving Averages')
out_b = ta.ema(close, len_b)
plot(out_b, title='EMA B', color=color.orange)
len_c = input.int(100, minval=1, title='EMA C Length', group='Moving Averages')
out_c = ta.ema(close, len_c)
plot(out_c, title='EMA C', color=color.green)
// Strategy Conditions
stratGroup = 'Strategy'
showLong = input.bool(true, title='Long entries', group=stratGroup)
showShort = input.bool(false, title='Short entries', group=stratGroup)
closeAfterXBars = input.bool(true, title='Close after X # bars', tooltip='If trade is in profit', group=stratGroup)
xBars = input.int(24, title='# bars')
entryLong = ta.crossover(out_a, out_b) and out_a > out_c and close > open
exitLong = rsi > 70
entryShort = ta.crossunder(out_a, out_b) and out_a < out_c and close < open
exitShort = rsi < 30
bought = strategy.opentrades[0] == 1 and strategy.position_size[0] > strategy.position_size[1]
entry_price = ta.valuewhen(bought, open, 0)
var int nPastBars = 0
if strategy.position_size > 0 or strategy.position_size < 0
nPastBars := nPastBars + 1
if strategy.position_size == 0
nPastBars := 0
if closeAfterXBars
exitLong := nPastBars >= xBars and close > entry_price ? true : exitLong
exitShort := nPastBars >= xBars and close < entry_price ? true : exitShort
// Long Entry
strategy.entry('Long', strategy.long, when=entryLong and showLong)
strategy.close('Long', when=exitLong)
// Short Entry
strategy.entry('Short', strategy.short, when=entryShort and showShort)
strategy.close('Short', when=exitShort)
Overview
Tendency EMA + RSI [Alorse] opens a long when the fastest EMA crosses above the middle EMA while remaining above the slowest EMA and the bar closes above its open. Shorts use the opposite cross and are off by default. Longs close when RSI rises above 70, and shorts close when RSI falls below 30. An optional rule can close a position after a set number of bars if price has moved past the entry. There is no stop loss.
- Three EMA plots on the price chart
- RSI overbought and oversold exits
- Optional bar-count exit rule
- Separate long and short entry toggles
- Percent-of-equity position sizing
Details
Published by
Hugs-4-Bugs on GitHub
Type
Strategy, Pine Script v5
Draws
On the price chart
Category
Trend, Oscillators & momentum, Moving averages
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- The strategy enters trades without a stop loss
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Length | int | 14 | len |
| Source | source | close | src |
| EMA A Length | int | 10 | len_a |
| EMA B Length | int | 20 | len_b |
| EMA C Length | int | 100 | len_c |
| Long entries | bool | true | showLong |
| Short entries | bool | false | showShort |
| Close after X # bars | bool | true | closeAfterXBars |
| # bars | int | 24 | xBars |
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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