OPEN-SOURCE SCRIPT
Strategija 2
Updated
Hello
This strategy is based on Steve Primo's No. 4 with added entry conditions. I will describe long trades only, conversely is valid for shorts.
1. Price has to be above basis SMA and fast EMA
2. Fast EMA has to be above basis EMA
3. ADX has to be above 20 (settings 14,20, fixed)
4. RSI has to be above 50 and above its 21 EMA
5. A pullback has to occur with the touch of the fast EMA
6. A bounce from that level has to occur and close above the control EMA
7. We compare N (1) bars for reverse for fast EMA bounce
Please use it on your own risk. Will add some strategy rules afterwards. My proposal is to use it on Daily and Weekly TF.
This strategy is based on Steve Primo's No. 4 with added entry conditions. I will describe long trades only, conversely is valid for shorts.
1. Price has to be above basis SMA and fast EMA
2. Fast EMA has to be above basis EMA
3. ADX has to be above 20 (settings 14,20, fixed)
4. RSI has to be above 50 and above its 21 EMA
5. A pullback has to occur with the touch of the fast EMA
6. A bounce from that level has to occur and close above the control EMA
7. We compare N (1) bars for reverse for fast EMA bounce
Please use it on your own risk. Will add some strategy rules afterwards. My proposal is to use it on Daily and Weekly TF.
Release Notes
Updated script. All MA's are plotted, entered also the recommended Entry Point, Stop Loss and Take Profit levels, which can be seen in data window and in general fine tuned a bit. 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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