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OPEN-SOURCE SCRIPT

EMA Stoch Strategy For ProfitView

By treigen
Updated
This strategy will enter positions when the set stochastic conditions are met, and uses the moving average to filter the direction of the trades (long/short). The background is used to illustrate the strength of the stochastic values.

The following is a step by step guide in order to automate the trading of the strategy with ProfitView:
  • In the indicator settings, set the desired stochastic and ema values, and the stochastic condition you want to use to enter a trade.
  • In the indicator, set which exchange, symbol, and account to execute trades on.
  • In the indicator, set the PV Alert names you intend to use. If you want to use the same names as provided in the pastebin below, you may set the three names to Market Long, Market Short, TP SL Hit.
  • In PV, create two new PV Alerts in the PV Alert tab in accordance to these specifics https://pastebin.com/b7HAfGHY.
  • On the Tradingview chart you want the indicator run on, create a new TV alert with this script as its condition, and specify the alert to "alert() function calls only".


Release Notes
Added leverage parameter that is added to the alert message for optional usage. Leverage in PV can now be set by adding leverage=_mylev to the order entry line for example
[side] quantity=100% type=market leverage=_mylev
Release Notes
Allow switch from Stoch RSI to plain Stoch
Release Notes
Only place tp/sl exits after position entries instead of every tick
Release Notes
Make stoch values invisibly plotted on the chart to be able to directly read current values
Release Notes
Fixed a bug that was sending tp/sl alert at the same time as position entry if tp/sl was enabled
Release Notes
Dont track trade direction with strategy variables anymore due to complications with sending tp/sl alert
Release Notes
Minor format edit
Release Notes
Minor code cleanup
automationbotMoving AveragesOscillatorsprofitview

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.

Want to use this script on a chart?

treigen

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.