OPEN-SOURCE SCRIPT
MA Emperor insiliconot Strategy
Updated
Converted EmperorBTC's EMA crossover indicator for easy backtesting and added ability to:
Quoting EmperorBTC:
Entry is to be made when the
1. Cross over gives a P(Positive Sign) and the candle completely closes above the cross-over
2. When the Heikin Ashi turns green and the next green HA candle goes above the previous green HA candle.
3. The price should be at-least above the 0.236 Level from the Swing high.
Kindly note that the strategy only attempts to do check number 1, where it ensures the entry opens above the cross-over.
- Specify time period for backtesting
- Specify order quantity
- Toggle original indicators (default off)
Quoting EmperorBTC:
Entry is to be made when the
1. Cross over gives a P(Positive Sign) and the candle completely closes above the cross-over
2. When the Heikin Ashi turns green and the next green HA candle goes above the previous green HA candle.
3. The price should be at-least above the 0.236 Level from the Swing high.
Kindly note that the strategy only attempts to do check number 1, where it ensures the entry opens above the cross-over.
Release Notes
Updated to Pine Script v4 and implemented more checks before buying/selling:- Candle closes above / below the cross
- Candle closes above 0.236 Fib / below 0.764 Fib from the most recent swing high / swing low
- Next Heikin Ashi candle is green / red
Release Notes
Updated formula for pivot pointsRelease Notes
Missed out a line to comment out for alertRelease Notes
- Simplified backtest range input
- Alternate background color for signals instead of using floating shapes
- Remove order quantity input, can be done via TradingView's in-built strategy properties which are much more robust
Release Notes
Left the old floating shapes commented out in case anyone prefers themOpen-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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