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Another EMA/RSI trend indicator

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Another EMA/RSI trend indicator is a trend-following trade signal and back-testing tool. It leverages EMA, RSI, ATR, volume, and price breakouts to generate and track buy/sell signals, manage trades, and display performance statistics.
EMA (Exponential Moving Average): Used for identifying trend direction.
RSI (Relative Strength Index): Used to confirm momentum.
ATR (Average True Range): Used to calculate Stop Loss (SL) and Take Profit (TP) dynamically.
Volume: Only trades when current volume > average volume.
Price breakout filters: Detects bullish/bearish breakout candlesticks for signals.
Entry Logic
  • Entry placed slightly above/below current price using an ATR-based buffer.
  • Configurable SL and TP using ATR multipliers.
  • Optional: Stop existing trade on a new opposite signal.
  • Entry filters include price structure checks using highs/lows.

Visual output
  • Plots Buy/Sell signals on chart
  • Draws entry, SL, and TP lines for ongoing trades
  • Displays trade statistics in a table (top-right):
  • Trade count
  • Wins/Losses/Stopped
  • Win rate
  • Cumulative and average profit/loss
  • Start date

This is a semi-automated trading signal generator and visual back-tester aimed at helping traders:
Identify trend-based entry opportunities
Automate entry/exit evaluation using standard risk management
Evaluate performance with live stats
Release Notes
Improvements on entry visualization
Release Notes
Added volume check enabled/length options.
Release Notes
Additional options
  • Extra Filter Length
  • Use Extra Filter (Long/Short)

This filter in theory should filter out some fake signals. I also recommend to turn off volume filter when using this one.
Release Notes
Minor changes on extra filter
Release Notes
Extra filter improvements
Release Notes
Updated extra filter logic. Option changes:
  • Removed Extra Filter Length
  • Added Draw Exhaustion Signals
  • Added Stop Signal On Exhaustion

Extra filtering is now based on exhaustion candles. Exhaustion triangles can be seen when "Draw Exhaustion Signals" is enabled. I also added an option to stop signals if exhaustion is noticed. Signal is stopped if it is not yet completely losing and the exhaustion is not both (bullish and bearish).
Release Notes
New options for exhaustion and signal sensitivity. Min 0.5, Max 2. Where 2 is very sensitive.
Extra filter logic changes
New options:
Stop On Stop Loss Without Entry - stops signal on stop loss hit if entry wasn't hit
Exhaustion Sensitivity Boost
Signal Sensitivity Boost
Signal Cooldown - works only when extra filter is used, should help to filter out extra signals when consolidation happens
Release Notes
Signal improvements
Release Notes
Signal detection update
Release Notes
Secondary signals with option
Secondary Signal Sensitivity Boost (Min: 0, Max: 2)
Extra filter now has logic for secondary signals
Release Notes
Extra filter logic update
Release Notes
Extra filter logic changes. It now waits for extra confirmation of signal by checking if next candles close at "imaginary" entry. Should help with fake entry hits when price tends to bounce back.
Release Notes
Small tweaks on extra filter functionality.
Release Notes
More tweaking on extra filter
Release Notes
Added momentum multiplier for take profit
Release Notes
Extra filter logic update
Release Notes
Extra filter rework
Release Notes
Extra filter changes
Code cleanup
General signal logic
Release Notes
Extra filter update
Removed secondary signals
Release Notes
Extra filter changes
Release Notes
Bug fix for incorrect totals after last signal exceeds bars in trade
"Maximum Profit" setting - filters out any signals with greater profit than expected
Extra filter logic update
Release Notes
Extra filter changes
Release Notes
Extra filter update
Release Notes
Extra filter improvements

Protected script

This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.

vilas69
Candlestick analysis

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.
Candlestick analysis

Protected script

This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.

vilas69

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.