OPEN-SOURCE SCRIPT
MACD + RSI + EMA
STRATEGY LOGIC
--- LONG CONDITION ---
1. Trend is Up (Price > EMA)
2. MACD Bullish Crossover (Momentum Starting)
3. RSI is Healthy (Between 50 and 70) - Buyers strong, but not exhausted
--- SHORT CONDITION ---
1. Trend is Down (Price < EMA)
2. MACD Bearish Crossover (Momentum Dropping)
3. RSI is Healthy (Between 30 and 50) - Sellers strong, but not exhausted
--- EXITS ---
Exit Long if RSI gets too hot (> 75) or Trend Reverses
Exit Short if RSI gets too cold (< 25) or Trend Reverses
--- LONG CONDITION ---
1. Trend is Up (Price > EMA)
2. MACD Bullish Crossover (Momentum Starting)
3. RSI is Healthy (Between 50 and 70) - Buyers strong, but not exhausted
--- SHORT CONDITION ---
1. Trend is Down (Price < EMA)
2. MACD Bearish Crossover (Momentum Dropping)
3. RSI is Healthy (Between 30 and 50) - Sellers strong, but not exhausted
--- EXITS ---
Exit Long if RSI gets too hot (> 75) or Trend Reverses
Exit Short if RSI gets too cold (< 25) or Trend Reverses
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.