OPEN-SOURCE SCRIPT
Tendency EMA + RSI [Alorse]
A very simple and highly effective strategy LONG & SHORT that combines only 2 indicators:
LONG Entry conditions are:
LONG Exit conditions are:
SHORT Entry conditions are:
SHORT Exit conditions are:
- RSI
- 3 Moving Average Exponential (EMA)
LONG Entry conditions are:
- EMA 20 cross over EMA 10
- EMA 10 is above EMA 100
LONG Exit conditions are:
- RSI greater than 70
- Or when X number of candles have passed and the trade is in profit. (Check Settings)
SHORT Entry conditions are:
- EMA 20 cross under EMA 10
- EMA 10 is below EMA 100
SHORT Exit conditions are:
- RSI is less than 30
- Or when X number of candles have passed and the trade is in profit. (Check Settings)
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.
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
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.
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.