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Strategy · Pine Script v4 · On the chart
Triple EMA Scalper
This strategy plots three moving averages on the price chart, although the calculations use simple moving averages despite the EMA title.
GitHub stars106on the repository
Pine versionv4older, still runs
Lines of code48
Settings9inputs
LicenceGPL-3.0
Last update2 years ago18 Sep 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
48 lines of Pine Script v4 from Amazing scalper for majors with risk management.pine, published under GPL-3.0. Keep the author's credit and licence lines when you reuse it.
//@author SoftKill21
//@version=4
strategy(title="Triple EMA Scalper", shorttitle="3EMA scalper", overlay=true)
len1 = input(25, minval=1, title="Length")
len2 = input(50, minval=1, title="Length")
len3 = input(100, minval=1, title="Length")
src = input(close, title="Source")
fastemaOut = sma(src, len1)
standardemaOut = sma(src, len2)
slowemaOut = sma(src, len3)
plot(fastemaOut, color=color.white, title="First EMA")
plot(standardemaOut, color=color.yellow, title="Second EMA")
plot(slowemaOut, color=color.blue, title="Third EMA")
timeinrange(res, sess) => time(res, sess) != 0
londopen = timeinrange(timeframe.period, "0300-1100")
nyopen = timeinrange(timeframe.period, "0800-1600")
longCondition = crossover(fastemaOut,standardemaOut) and crossover(fastemaOut,slowemaOut) and londopen //or nyopen)
shortCondition = crossunder(fastemaOut,standardemaOut) and crossunder(fastemaOut,slowemaOut) and londopen// or nyopen)
longCondition2 = crossover(fastemaOut,standardemaOut) and crossover(fastemaOut,slowemaOut) and nyopen
shortCondition2 = crossunder(fastemaOut,standardemaOut) and crossunder(fastemaOut,slowemaOut) and nyopen
tp = input(50,title="TP")
sl = input(100, title="SL")
tradeLondon = input(title="Trade london session?", type=input.bool, defval=true)
tradeNewyork = input(title="Trade new york session?", type=input.bool, defval=true)
//MONEY MANAGEMENT--------------------------------------------------------------
balance = strategy.netprofit + strategy.initial_capital //current balance
floating = strategy.openprofit //floating profit/loss
risk = input(1,type=input.float,title="Risk % of equity ")/100 //risk % per trade
temp01 = balance * risk //Risk in USD
temp02 = temp01/sl //Risk in lots
temp03 = temp02*100000 //Convert to contracts
size = temp03 - temp03%1000 //Normalize to 1000s (Trade size)
if(size < 1000)
size := 1000
if(tradeLondon==true)
strategy.entry("long",1,size,when=longCondition)
strategy.exit("tp/sl","long",profit=tp,loss=sl)
strategy.entry("short",0,size,when=shortCondition)
strategy.exit("tp/sl","short",profit=tp,loss=sl)
if(tradeNewyork==true)
strategy.entry("long",1,size,when=longCondition2)
strategy.exit("tp/sl","long",profit=tp,loss=sl)
strategy.entry("short",0,size,when=shortCondition2)
strategy.exit("tp/sl","short",profit=tp,loss=sl)
strategy.risk.max_intraday_filled_orders(2)
Expand (63 lines)
Overview
Triple EMA Scalper enters long when the fastest average crosses above the other two and short when it crosses below them, limited to the London and New York sessions when those filters are enabled. Each entry uses a fixed take profit and stop loss, and position size is based on a risk percentage of equity. Lengths, source, targets, session toggles, and risk are the main settings.
- Three plotted simple moving averages
- London and New York session filters
- Crossover long and crossunder short entries
- Fixed take profit and stop loss exits
- Equity risk percentage position sizing
Details
Published by
hasnocool on GitHub
Type
Strategy, Pine Script v4
Draws
On the price chart
Category
Moving averages, Scalping, Sessions & time
Markets
Forex
Timeframes
M1-M5
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.
Topics
analysisbtcusdtcryptocurrencydatapandaspythonsimulationtradingtradingview
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Length | int | 25 | len1 |
| Length | int | 50 | len2 |
| Length | int | 100 | len3 |
| Source | source | close | src |
| TP | int | 50 | tp |
| SL | int | 100 | sl |
| Trade london session? | bool | true | tradeLondon |
| Trade new york session? | bool | true | tradeNewyork |
| Risk % of equity | float | 1 | risk |
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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