OPEN-SOURCE SCRIPT
Tendency EMA + RSI [Alorse]
A very simple and highly effective strategy LONG & SHORT that combines only 2 indicators:
LONG Entry conditions are:
LONG Exit conditions are:
SHORT Entry conditions are:
SHORT Exit conditions are:
- RSI
- 3 Moving Average Exponential (EMA)
LONG Entry conditions are:
- EMA 20 cross over EMA 10
- EMA 10 is above EMA 100
LONG Exit conditions are:
- RSI greater than 70
- Or when X number of candles have passed and the trade is in profit. (Check Settings)
SHORT Entry conditions are:
- EMA 20 cross under EMA 10
- EMA 10 is below EMA 100
SHORT Exit conditions are:
- RSI is less than 30
- Or when X number of candles have passed and the trade is in profit. (Check Settings)
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 publication is governed by House rules. You can favorite it to use it on a chart.
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