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
TradersPost Example MOMO Strategy
This strategy tracks momentum using an 8-period and 21-period Exponential Moving Average (EMA) crossover system.
GitHub stars6on the repository
Pine versionv5runs as is
Lines of code24
Settings0inputs
LicenceNone statedfile: MPL-2.0
Last update1 year ago20 Dec 2024
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
24 lines of Pine Script v5 from strategies/TradersPost Simple Example MOMO Strategy.pinescript, 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/
// © TradersPostInc
//@version=5
strategy('TradersPost Example MOMO Strategy', overlay=true)
ema8 = ta.ema(close, 8)
ema21 = ta.ema(close, 21)
isUptrend = ema8 >= ema21
isDowntrend = ema8 <= ema21
trendChanging = ta.cross(ema8, ema21)
tradersPostBuy = trendChanging and isUptrend
tradersPostSell = trendChanging and isDowntrend
buyAlertMessage = '{"ticker": "' + syminfo.ticker + '", "action": "buy", "price": ' + str.tostring(close) + '}'
sellAlertMessage = '{"ticker": "' + syminfo.ticker + '", "action": "sell", "price": ' + str.tostring(close) + '}'
if tradersPostBuy
strategy.entry("Long", strategy.long, alert_message = buyAlertMessage)
if tradersPostSell
strategy.close("Long", when = open[0], alert_message = sellAlertMessage)
Overview
TradersPost Example MOMO Strategy enters long positions when the 8 EMA crosses above the 21 EMA and closes open long positions when the 8 EMA crosses below the 21 EMA. Each trade action sends a customized JSON payload via alert messages designed for execution on external platforms like TradersPost. The strategy draws directly on the price chart. It lacks configurable settings, short position rules, and explicit stop loss or take profit risk parameters.
- 8 EMA and 21 EMA crossover logic
- Formatted JSON alert messages
- Automated long entry and exit execution
- Price chart overlay
Details
Published by
TradersPost 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
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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