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 strategies/trend/Tendency EMA + RSI.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
Tendency EMA + RSI.pine
// 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='Trend EMA + RSI [Alorse]', shorttitle='Trend 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
Long trades execute when a fast EMA crosses above a slow EMA while remaining above a long-term baseline EMA on a bullish bar. Entries close when RSI reaches extreme levels or optionally after a configurable number of bars if the trade is in profit. The script overlays three EMAs on the price chart and operates without explicit stop-loss orders.
Triple exponential moving average trend confirmation
RSI indicator momentum exit levels
Optional time-based profit exit mechanism
Independent toggles for long and short strategy entries
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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