OPEN-SOURCE SCRIPT
5-Minute Momo Strategy
Entry Conditions:
Buy when the short MA crosses above the long MA, RSI confirms no overbought condition, and MACD is bullish.
Sell when the short MA crosses below the long MA, RSI confirms no oversold condition, and MACD is bearish.
Exit Conditions:
Close long positions when the opposite crossover occurs or RSI becomes overbought.
Close short positions when the opposite crossover occurs or RSI becomes oversold.
Stop-Loss and Take-Profit:
Uses ATR-based levels for dynamic stop-loss and take-profit targets.
Visualization:
Plots moving averages, RSI levels, and MACD histogram for easy analysis.
Alerts:
Configurable alerts to notify traders of buy and sell signals.
Buy when the short MA crosses above the long MA, RSI confirms no overbought condition, and MACD is bullish.
Sell when the short MA crosses below the long MA, RSI confirms no oversold condition, and MACD is bearish.
Exit Conditions:
Close long positions when the opposite crossover occurs or RSI becomes overbought.
Close short positions when the opposite crossover occurs or RSI becomes oversold.
Stop-Loss and Take-Profit:
Uses ATR-based levels for dynamic stop-loss and take-profit targets.
Visualization:
Plots moving averages, RSI levels, and MACD histogram for easy analysis.
Alerts:
Configurable alerts to notify traders of buy and sell signals.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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Disclaimer
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