This strategy generates trading signals on the 5-minute price chart using Williams Fractals for trend reversals, combined with EMA fast and slow trend filters and optional RSI confirmation. Long entries trigger on bullish fractals aligned with rising EMA and R
Strategy · Pine Script v5 · On the chart
XAUUSD Strategy V4.9.4 - Risk Cap + Sell Priority
This strategy trades XAUUSD using a combination of Stochastic, RSI, and triple exponential moving averages paired with Fibonacci zones and M15 trigger conditions.
GitHub stars2on the repository
Pine versionv5runs as is
Lines of code253
Settings32inputs
LicenceNone stated
Last update4 months ago6 Jun 2026
Add It to Your TradingView Chart
- 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
XAUUSD Strategy V4.9.4 - Risk Cap + Sell Priority identifies confirmation trades and optional scalping setups based on overbought or oversold levels, rejection wicks, and distance filters from the 20 EMA. Stop loss is placed at recent swing levels with ATR buffers, while profit targets follow configurable risk-reward ratios. It displays signals, Fibonacci levels, and a dashboard on the chart.
- Multi-EMA trend and zone filtering
- Stochastic and RSI momentum triggers
- Fibonacci retracement zone analysis
- ATR-buffered swing stop loss and target levels
- On-chart status dashboard and signals
Details
Published by
aeiioaeiio on GitHub
Type
Strategy, Pine Script v5
Draws
On the price chart
Category
Trend, Oscillators & momentum, Moving averages, Scalping
Markets
Gold
Timeframes
M1-M5, 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.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Stoch Period | int | 5 | stochLen |
| Stoch K | int | 3 | stochKLen |
| Stoch D | int | 3 | stochDLen |
| RSI Period | int | 14 | rsiLen |
| EMA Fast | int | 20 | emaFastLen |
| EMA Slow | int | 50 | emaSlowLen |
| EMA Trend | int | 200 | emaTrendLen |
| ATR Period | int | 14 | atrLen |
| Backtest Mode | string | Confirm Only | mode |
| Use Closed Bar Only | bool | true | useConfirmedBar |
| Enable BUY CONFIRM | bool | true | enableBuyConfirm |
| Enable SELL CONFIRM | bool | true | enableSellConfirm |
Show all 32 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Enable LSB SCALP | bool | false | enableLsbScalp |
| Enable LSS SCALP | bool | false | enableLssScalp |
| Show Disabled Scalp Marks for Review | bool | false | showDisabledLegs |
| M15 Sell OB Level | float | 70 | sellOb |
| M15 Buy OS Level | float | 30 | buyOs |
| M15 Rejection Wick % | float | 0.35 | wickPct |
| Require M15 Trigger for Confirm | bool | true | requireM15 |
| Fib Lookback | int | 50 | fibLookback |
| Fib/EMA Zone Tolerance x ATR | float | 0.45 | fibTolAtr |
| No Chase Distance from EMA20 x ATR | float | 1.35 | noChaseAtr |
| Confirm TP RR | float | 1.5 | rrConfirm |
| Scalp TP RR | float | 0.8 | rrScalp |
| Confirm SL Buffer x ATR | float | 0.35 | slAtrBuf |
| Scalp SL Buffer x ATR | float | 0.12 | scalpSlAtr |
| Confirm SL Swing Lookback | int | 8 | swingLb |
| Scalp SL Swing Lookback | int | 3 | scalpLb |
| Show Dashboard | bool | true | showDash |
| Show Signals | bool | true | showSignals |
| Show Watch Marks | bool | true | showWatch |
| Show Key Fib | bool | true | showFib |
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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