OPEN-SOURCE SCRIPT
cc

/version=5
indicator("5 Min Forex Strategy", overlay=true, timeframe="5")
// ───────── Indicators ─────────
// EMAs
ema50 = ta.ema(close, 50)
ema200 = ta.ema(close, 200)
// RSI
rsi = ta.rsi(close, 14)
// Stochastic
k = ta.stoch(close, high, low, 14)
d = ta.sma(k, 3)
// ───────── Trend Conditions ─────────
bullTrend = ema50 > ema200
bearTrend = ema50 < ema200
// ───────── Entry Conditions ─────────
// Buy when trend is bullish + RSI > 50 + Stochastic crosses up from oversold
buySignal = bullTrend and rsi > 50 and ta.crossover(k, d) and k < 20
// Sell when trend is bearish + RSI < 50 + Stochastic crosses down from overbought
sellSignal = bearTrend and rsi < 50 and ta.crossunder(k, d) and k > 80
// ───────── Plot Indicators ─────────
plot(ema50, color=color.yellow, title="EMA 50")
plot(ema200, color=color.red, title="EMA 200")
// RSI & Stoch plot on separate pane
rsiPlot = plot(rsi, "RSI", color=color.new(color.blue, 0))
hline(70); hline(30)
// ───────── Plot Buy/Sell signals ─────────
plotshape(buySignal, title="BUY", style=shape.labelup, color=color.green, text="BUY", size=size.small, location=location.belowbar)
plotshape(sellSignal, title="SELL", style=shape.labeldown, color=color.red, text="SELL", size=size.small, location=location.abovebar)
indicator("5 Min Forex Strategy", overlay=true, timeframe="5")
// ───────── Indicators ─────────
// EMAs
ema50 = ta.ema(close, 50)
ema200 = ta.ema(close, 200)
// RSI
rsi = ta.rsi(close, 14)
// Stochastic
k = ta.stoch(close, high, low, 14)
d = ta.sma(k, 3)
// ───────── Trend Conditions ─────────
bullTrend = ema50 > ema200
bearTrend = ema50 < ema200
// ───────── Entry Conditions ─────────
// Buy when trend is bullish + RSI > 50 + Stochastic crosses up from oversold
buySignal = bullTrend and rsi > 50 and ta.crossover(k, d) and k < 20
// Sell when trend is bearish + RSI < 50 + Stochastic crosses down from overbought
sellSignal = bearTrend and rsi < 50 and ta.crossunder(k, d) and k > 80
// ───────── Plot Indicators ─────────
plot(ema50, color=color.yellow, title="EMA 50")
plot(ema200, color=color.red, title="EMA 200")
// RSI & Stoch plot on separate pane
rsiPlot = plot(rsi, "RSI", color=color.new(color.blue, 0))
hline(70); hline(30)
// ───────── Plot Buy/Sell signals ─────────
plotshape(buySignal, title="BUY", style=shape.labelup, color=color.green, text="BUY", size=size.small, location=location.belowbar)
plotshape(sellSignal, title="SELL", style=shape.labeldown, color=color.red, text="SELL", size=size.small, location=location.abovebar)
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.