Triple EMA + Stochastic Short St…: Free TradingView Strategy (Pine Script)

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

73 lines of Pine Script v4 from Triple_EMA+Stochastic_RSI/Triple_EMA+Stochastic_RSI_Short_Strategy.txt, published under Apache-2.0. Keep the author's credit and licence lines when you reuse it.

Triple_EMA+Stochastic_RSI_Short_Strategy.txt

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © krosenfeld7

// Strategy is best with 15 min timeframe, but barely profitable
//@version=4
strategy("Triple EMA + Stochastic Short Strategy (15 Min)", overlay = true, pyramiding = 0, 
         margin_long = 100, margin_short = 100, default_qty_type = strategy.percent_of_equity, 
         default_qty_value = 20, initial_capital = 2000, process_orders_on_close = true)

// Set the starting point for backtesting
start = input(title="Backtesting Start", type=input.time, defval=timestamp("1 Jan 2015"))
// Expiration time on orders
maxTimeOpen = input(title="Order Expiration", type=input.integer, defval=100, minval=1)
useAtr = input(title="Use ATR?", type=input.bool, defval=false)

// Algorithm / Strategy Goes here
// Set long / short variables to execute positions below
len1 = input(20, minval=1, title="Short EMA Length")
src1 = input(close, title="Short EMA Source")
out1 = ema(src1, len1)
plot(out1, title="Short EMA", color=color.blue, linewidth=3)
len2 = input(50, minval=1, title="Intermediate EMA Length")
src2 = input(close, title="Intermediate EMA Source")
out2 = ema(src2, len2)
plot(out2, title="Intermediate EMA", color=color.yellow, linewidth=3)
len3 = input(200, minval=1, title="Long EMA Length")
src3 = input(close, title="Long EMA Source")
out3 = ema(src3, len3)
plot(out3, title="Long EMA", color=color.white, linewidth=3)

// Stochastic RSI Section
smoothK = input(3, "Stochastic K", minval=1)
smoothD = input(3, "Stochastic D", minval=1)
src = input(close, title="RSI Source")
lengthRSI = input(14, "RSI Length", minval=1)
lengthStoch = input(14, "Stochastic Length", minval=1)
rsi1 = rsi(src, lengthRSI)
k = sma(stoch(rsi1, rsi1, rsi1, lengthStoch), smoothK)
d = sma(k, smoothD)

// Computing Strategy
long = (barstate.isconfirmed and (k > d) and (out1 > out2) and (out2 > out3) and (close > out1) and ((open < close) and (close > close[1])) and (open > out1)) ? 1 : 0
short = (barstate.isconfirmed and (d > k) and ((out1 < out2) and (out2 < out3)) and (close < out1) and ((open > close) and (close < close[1])) and (open < out1)) ? 1 : 0

// Average True Range
length = input(title="ATR Length", defval=14, minval=1)
atrMultiplier = input(title="ATR Multiplier", type=input.float, defval=1, minval=0.1)
atr = atr(length)

shortProfitPercent = input(title = "Profit %",
     type = input.float, minval = 0.0, step = 0.1, defval = 10) / 100
shortLossPercent = input(title = "Loss %",
     type = input.float, minval = 0.0, step = 0.1, defval = 10) / 100

// Calculating exact prices for stop loss and exit prices
shortExitPercentPrice = strategy.position_avg_price * (1 - shortProfitPercent)
shortStopPercentPrice = strategy.position_avg_price * (1 + shortLossPercent)

// Profit & Loss via ATR
shortExitPrice = useAtr ? strategy.position_avg_price - atr * atrMultiplier : shortExitPercentPrice
shortStopPrice = useAtr ? strategy.position_avg_price + atr * atrMultiplier : shortStopPercentPrice

// Plotting profit / loss targets
plot(series = (strategy.position_size < 0) ? shortExitPrice : na, color = #33b802, style = plot.style_linebr, transp = 0, linewidth = 3, title = "Short Target")
plot(series = (strategy.position_size < 0) ? shortStopPrice : na, color = #ff0900, style = plot.style_linebr, transp = 0, linewidth = 3, title = "Short Stop Loss")

// Submit entry orders
if time >= start
    strategy.entry(id = "Short", long = strategy.short, comment = "Short Open", when = short)

// Submit exit orders
strategy.exit(id = "Short", limit = shortExitPrice, stop = shortStopPrice, comment = "Short Close", when = strategy.position_size < 0)
strategy.close(id = "Short", comment = "Expired: >" + tostring(maxTimeOpen), when = (barssince(change(strategy.opentrades)) + 1) >= maxTimeOpen)

Overview

A short position opens when the EMAs align in a downward trend, Stochastic K crosses below D, and a bearish price bar closes below the fast EMA. Risk management can be calculated using fixed percentages or an optional ATR-based multiplier. Draws the three EMAs and active short take profit and stop loss levels directly on the main chart.

Triple EMA trend alignment check
Stochastic RSI crossover signals
Configurable ATR or percentage risk management
Visual target and stop loss plots

Details

Published by

krosenfeld7 on GitHub

Type

Strategy, Pine Script v4

Draws

On the price chart

Markets

Any symbol

Timeframes

M15-H1

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.

File

Triple_EMA+Stochastic_RSI/Triple_EMA+Stochastic_RSI_Short_Strategy.txt

Repository

github.com/krosenfeld7/pine_script_strategies. See its other scripts in the library

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

Setting	Type	Default	Variable
Backtesting Start	`time`	`timestamp("1 Jan 2015")`	`start`
Order Expiration	`int`	`100`	`maxTimeOpen`
Use ATR?	`bool`	`false`	`useAtr`
Short EMA Length	`int`	`20`	`len1`
Short EMA Source	`source`	`close`	`src1`
Intermediate EMA Length	`int`	`50`	`len2`
Intermediate EMA Source	`source`	`close`	`src2`
Long EMA Length	`int`	`200`	`len3`
Long EMA Source	`source`	`close`	`src3`
Stochastic K	`int`	`3`	`smoothK`
Stochastic D	`int`	`3`	`smoothD`
RSI Source	`source`	`close`	`src`

Show all 18 settings

Setting	Type	Default	Variable
RSI Length	`int`	`14`	`lengthRSI`
Stochastic Length	`int`	`14`	`lengthStoch`
ATR Length	`int`	`14`	`length`
ATR Multiplier	`float`	`1`	`atrMultiplier`
Profit %	`float`	`10`	`shortProfitPercent`
Loss %	`float`	`10`	`shortLossPercent`

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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