This trend-following strategy generates long and short entries based on the alignment of three exponential moving averages and price position relative to the fastest EMA.
1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
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
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
An optional RSI momentum filter can confirm directional bias. By default, exits occur on opposite signals, but traders can configure fixed percentage stop loss and take profit targets or trailing stops. The script executes directly on the price chart. When default settings are used, no hard stop loss is placed.
Triple EMA trend stacking logic
Optional RSI momentum confirmation
Selectable exit modes including opposite signal and TP/SL
Configurable percentage-based stop loss and take profit
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Fast EMA
int
5
fast_ema
Middle EMA
int
10
mid_ema
Slow EMA
int
20
slow_ema
Require Full Alignment
bool
true
require_alignment
Momentum Confirmation
bool
true
use_momentum_confirm
Momentum Period
int
14
momentum_period
Exit Mode
string
Opposite Signal
exit_mode
Take Profit %
float
2.5
tp_percent
Stop Loss %
float
1.0
sl_percent
Trailing Offset %
float
0.5
trail_offset_pct
Position Size %
float
100.0
position_size_pct
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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