OPEN-SOURCE SCRIPT
EMA Crossover Strategy
EMA Crossover Strategy
This strategy will enter a long trade when the 21 EMA crosses over the 55 EMA and both EMAs and the close price are above the 200 EMA (long-term trend).
It will enter a short trade when the 21 EMA crosses under the 55 EMA and both EMAs and the close price are below the 200 EMA.
It will exit a long trade when the RSI crosses under from overbought and indicates that the uptrend could be coming to an end.
It will exit a short trade when the RSI crosses over from oversold and indicates that the downtrend could be coming to an end.
Backtesting shows that it works best on:
30 MIN:
1 HR:
3 HR:
As always, this strategy does not guarantee you to achieve profits and you should always use confirmations before entering a trade.
This strategy will enter a long trade when the 21 EMA crosses over the 55 EMA and both EMAs and the close price are above the 200 EMA (long-term trend).
It will enter a short trade when the 21 EMA crosses under the 55 EMA and both EMAs and the close price are below the 200 EMA.
It will exit a long trade when the RSI crosses under from overbought and indicates that the uptrend could be coming to an end.
It will exit a short trade when the RSI crosses over from oversold and indicates that the downtrend could be coming to an end.
Backtesting shows that it works best on:
30 MIN:
- SYMBOL - PROFIT FACTOR
- AUDCAD - 1.126
- EURJPY - 1.12
- EURNZD - 1.04
EURUSD - 1.65
GBPAUD - 1.27 - USDCAD - 1.08
1 HR:
- SYMBOL - PROFIT FACTOR
- CADJPY- 1.23
- EURNZD- 1.166
- GBPJPY- 1.23
- GBPUSD- 1.282
- NZDJPY- 1.246
- USDCHF- 1.344
3 HR:
- SYMBOL - PROFIT FACTOR
CADCHF- 1.975
EURGBP- 1.776
EURNZD- 1.911 - GBPAUD- 1.364
- GBPCHF- 1.311
- USDJPY- 1.162
*XAUUSD - 2.00
As always, this strategy does not guarantee you to achieve profits and you should always use confirmations before entering a trade.
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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