EMA RSI Strategy

Simple strategy
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If the last two closes are in ascending order, the rsi is below 50 and ascending, and the current candle is above 200 ema, then LONG. If the last two closes are in descending order, the rsi is above 50 and descending, and the current candle is below 200 ema, then SHORT.

LONG Exit strategy:

ATR: Last 14 day
Lowest: The lowest value of the last 14 candles

Limit points = (Trade Price - Lowest + ATR) * 100000
trail_points : Limit/2
trail_offset = Limit/2

SHORT Exit strategy:

ATR: Last 14 day
Highest: The higher value of the last 14 candles

Limit points = (Trade Price - Highest + ATR) * 100000
trail_points : Limit/2
trail_offset = Limit/2

Backtest results for the AUDUSD pair gave positive results over the last three months.

I am testing this strategy using a python bot in a real environment this week and will update the results at the end of the week.

Disclaimer

This is not financial advice. You should seek independent advice to check how the strategy information relates to your unique circumstances.
We are not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on, the information provided directly or indirectly by this strategy.

Release Notes

Minor bug fixes

Open-source script

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

anjanakap

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Open-source script

anjanakap