OPEN-SOURCE SCRIPT
SMA10 & SMA50 Crossover Strategy
//version=5
strategy("SMA10 & SMA50 Crossover Strategy", overlay=true, default_qty_type=strategy.percent_of_equity, default_qty_value=10)
// Calculate the SMAs
sma10 = ta.sma(close, 10)
sma50 = ta.sma(close, 50)
// Plot the SMAs on the chart
plot(sma10, color=color.blue, title="SMA10")
plot(sma50, color=color.red, title="SMA50")
// Define the crossover conditions
// Buy when SMA10 becomes >= SMA50 and the previous bar had SMA10 < SMA50
buySignal = (sma10 >= sma50) and (sma10[1] < sma50[1])
// Sell when SMA10 becomes <= SMA50 and the previous bar had SMA10 > sma50[1]
sellSignal = (sma10 <= sma50) and (sma10[1] > sma50[1])
// Generate entries based on the conditions
if buySignal
strategy.entry("Long", strategy.long)
if sellSignal
strategy.entry("Short", strategy.short)
strategy("SMA10 & SMA50 Crossover Strategy", overlay=true, default_qty_type=strategy.percent_of_equity, default_qty_value=10)
// Calculate the SMAs
sma10 = ta.sma(close, 10)
sma50 = ta.sma(close, 50)
// Plot the SMAs on the chart
plot(sma10, color=color.blue, title="SMA10")
plot(sma50, color=color.red, title="SMA50")
// Define the crossover conditions
// Buy when SMA10 becomes >= SMA50 and the previous bar had SMA10 < SMA50
buySignal = (sma10 >= sma50) and (sma10[1] < sma50[1])
// Sell when SMA10 becomes <= SMA50 and the previous bar had SMA10 > sma50[1]
sellSignal = (sma10 <= sma50) and (sma10[1] > sma50[1])
// Generate entries based on the conditions
if buySignal
strategy.entry("Long", strategy.long)
if sellSignal
strategy.entry("Short", strategy.short)
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.
For quick access on a chart, add this script to your favorites — learn more here.
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.
For quick access on a chart, add this script to your favorites — learn more here.
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.