MA-EMA Crossover LT

Just a simple strategy based on dynamic zones by Allenster. Still a work in progress.
Release Notes: // This is a Trend Following strategy. Strategy Logic as follows -
// Very simple MA and EMA crossover for Entry (Short or Long)
// Re-entry is on EMA crossover
// Dynamic Zones are used for Stop Loss exit - Dynamic Zone is simply a % of "X" period price range. I use 128 periods for checking range.
// Dynamic Zones script is taken from @allanster
// I have found that it gives good results (at least on-paper results) on 3 hours timeframe or Daily timeframes.
// I have kept certain default parameters like quantity, trade type long/short, etc since they were convinient for the kind of stocks I was checking.
// One can change many of these parameters to optimise the results.
// There are still some changes to be done to script as follows - //12Apr20
// 1. If on Long Entry, the entry point is below the dynamic zone line, then the stop loss is calculated above the entry point. I will fix it one of these days.
// 2. Additional re-entry logic or take-profit logic in case the stock runs much ahead
// 3. I need to write a Alerts script that would have 10s of stocks built into one script.
// 4. Any other feedback
// Please note I am not a programmer by profession. I am just trying to code a few simple trading ideas for my personal use
// So, any suggestions / help in changing / optimizing code is most welcome.
Release Notes: Added the link to Dynamic Zones Script in comments. It's a beautiful, neat and clean script. I use it quite frequently during trading. I find it somewhat similar to %Williams, but visually much more intuitive. Please check it as
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 a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?