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Relative Strength Index (RSI)

All-in-One: VWAP, Ichimoku, EMAs, ADX, RSI + AlertsTitle: All-in-One: VWAP, Ichimoku, EMAs, ADX, RSI + Alerts Short Title: Multi-Indicator + Alerts Description: This script combines several popular trading tools into a single indicator, giving traders a comprehensive view of market conditions alongside convenient alerts. Whether you are monitoring intraday trends, identifying breakouts, or looking for overbought/oversold zones, this script centralizes all the major signals you need. Features & Options VWAP (Volume-Weighted Average Price) Multi-timeframe VWAP on 1H, 4H, and Daily Helps identify key support/resistance zones based on volume distribution EMAs (Exponential Moving Averages) EMAs of 10, 20, 50, and 200 periods (customizable) Quick visualization of short-term vs. long-term trends Ichimoku Cloud Full Ichimoku suite (Tenkan, Kijun, Senkou A/B, Chikou) Auto-filled cloud for bullish/bearish scenarios Detect momentum shifts and potential support/resistance zones RSI & ADX Table RSI(14) and ADX(14) displayed on a small on-chart table Compare values across three custom timeframes for multi-timeframe confluence Labels on Last Bar Optional labels for VWAP, EMAs, and Ichimoku values on the latest candle Keeps critical numeric data in sight Alerts RSI Overbought/Oversold : Triggers when RSI crosses above/below user-defined thresholds (default 70/30). ADX Strong Trend : Fires when ADX surpasses a chosen level (default 25), indicating strong momentum. EMA Cross : Set an alert whenever a faster EMA crosses over or under a slower EMA (default EMA10 vs. EMA50). Ichimoku Kumo Breakout : Informs you when price closes above or below the Ichimoku cloud. With everything in one place, this script helps traders streamline their workflow and spot potential opportunities faster. All alert messages are static to ensure compliance with TradingView’s requirement for constant strings in alerts. Disclaimer: All trading involves risk. The signals generated by this script do not guarantee profits or prevent losses. Always combine multiple forms of analysis and exercise your own judgment before making any trading decisions.
Pine Script™ indicator
by Eigna66
1
Dual Relative Strength Index(RSI)Triple rsi was announced yesterday, and today I'm announcing a new version as planned yesterday. The name is dual rsi. This rsi allows me to show you the rsi of the time frame that I'm seeing at this moment and the time frame that's four times longer at the same time. I don't have to manually time frame each one, I just open the time zone chart I want, and I automatically adjust the time zone. It is expected to be used to check the trend when buying and selling. If you have anything to supplement or want to use my code, feel free to use it. ====번 역=== 트리플 rsi를 어제 발표하였고, 나는 오늘은 어제 계획한데로 새로운 버전을 발표 합니다. 그 이름은 듀얼 rsi입니다. 이 rsi는 지금 이 순간에 내가 보고 있는 타임프레임의 rsi와 4배 긴 시간의 타임프레임을 동시에 보여 줄수 있도록 합니다. 일일이 내가 수동적으로 타임프레임을 지정할 필요없이 그저 내가 원하는 시간대 차트를 열기만 하면 자동으로 시간대를 조정합니다. 매매를 할때 추세를 확인하는데 긴요하게 사용될 것으로 기대됩니다. 보완할 사항이 있거나 제 코드를 사용하시길 원하는 분들은 자유롭게 사용하셔도 좋습니다.
Pine Script™ indicator
by illbecmo
EMA ivis Breakout StrategyEine bewährte Strategie kombiniert gleitende Durchschnitte (EMAs) mit einem Breakout-Filter, um nur bei klaren Markttrends zu handeln. Entwickelt habe ich diese für BTCUSD, funktioniert aber auch in anderen Assets. Ausstiegsregeln: Für den Stop-Loss: 1,5-fache ATR unterhalb/oberhalb des Einstiegskurses. Für den Take-Profit: 2-fache ATR über/unter dem Einstiegspunkt Zeit Filter: Der Indikator liefert nur in der definierten Handelszeit Signale. Diese können SIe selbstständig in den Einstellungen verändern. Die Strategie kann man bestens in 15min anwenden.
Pine Script™ indicator
by Hexometra
Triple Relative Strength IndexMulti-timeframe RSI indicator. The RSI indicators provided by TradingView provide only one indicator, but they are completed as one indicator to enable simultaneous analysis of RSIs in different time zones. The RSI at the top is able to see larger movements than the current time zone, and the RSI at the bottom is able to see smaller time zone movements. Example of use) If the large time zone RSI sits at No. 50, it could enter a buy position if the current time zone or small time zone RSI supports at 30, or breaks above 30, with an uptrend movement. Future plan) 1. Improve indicators using RSI indicators based on volume 2. Improve to set automatically without manually specifying time zones We look forward to your comments and comments on this idea. ============================================================================== 멀티 타임프레임 RSI지표입니다. 트레이딩뷰에서 제공하는 RSI지표는 한개의 지표만 제공하지만, 다양한 시간대의 RSI를 동시에 분석할 수 있도록 하나의 지표로 완성하였습니다. 맨 위에 있는 RSI는 현재 시간대보다 큰 움직임을 확인할 수 있고, 맨 아래 RSI는 작은 시간대 움직임을 확인할 수 있습니다. 사용예시) 큰 시간대 RSI가 50위에 위치한 경우 상승추세 움직임으로 현재 시간대나 작은 시간대의 RSI가 30에서 지지하거나 30을 상향돌파할 경우 매수 포지션에 진입할 수 있습니다. 향후계획) 1. 거래량 기반 RSI지표를 활용한 지표 개선 2. 시간대를 수동으로 지정하지 않고 자동으로 설정되도록 개선 이 아이디어에 대한 여러분의 댓글과 의견을 기다리겠습니다.
Pine Script™ indicator
by illbecmo
RSI BB StdDev SignalOverview The RSI BB StdDev Signal Indicator is a powerful tool designed to enhance your trading strategy by combining the Relative Strength Index (RSI) with Bollinger Bands (BB). This unique combination allows traders to identify potential buy and sell signals more accurately by leveraging the strengths of both indicators. The RSI helps in identifying overbought and oversold conditions, while the Bollinger Bands provide a dynamic range to assess volatility and potential price reversals. Key Features — RSI Calculation: The indicator calculates the RSI based on user-defined parameters, allowing for customization to fit different trading styles. — Bollinger Bands Integration: The RSI values are smoothed using a moving average, and Bollinger Bands are applied to this smoothed RSI to generate buy and sell signals. — Divergence Detection: The indicator includes an optional feature to detect and alert on bullish and bearish divergences between the RSI and price action. — Customizable Alerts: Users can set up alerts for buy and sell signals, as well as for divergences, ensuring they never miss a trading opportunity. — Visual Aids: The indicator plots the RSI, Bollinger Bands, and signals on the chart, making it easy to visualize and interpret the data. How It Works 1. RSI Calculation: — The RSI is calculated using the change in the source input (default is close price) over a specified period. — The RSI values are then plotted on the chart with customizable overbought and oversold levels. 2. Smoothing and Bollinger Bands: — The RSI values are smoothed using a moving average (SMA, EMA, SMMA, WMA, VWMA) selected by the user. — Bollinger Bands are applied to the smoothed RSI to create dynamic upper and lower bands. 3. Signal Generation: —Buy signals are generated when the RSI crosses above the lower Bollinger Band. —Sell signals are generated when the RSI crosses below the upper Bollinger Band. —These signals are plotted on both the RSI pane and the main price chart for easy reference. 4. Divergence Detection: — The indicator can detect and alert on regular bullish and bearish divergences between the RSI and price action. — Bullish divergences occur when the price makes a lower low, but the RSI makes a higher low. — Bearish divergences occur when the price makes a higher high, but the RSI makes a lower high. Usage 1. Setting Up: — Add the indicator to your TradingView chart. — Customize the RSI length, source, and other parameters in the settings panel. — Enable or disable the divergence detection based on your trading strategy. 2. Interpreting Signals: — Use the buy and sell signals generated by the RSI crossing the Bollinger Bands as potential entry and exit points. — Pay attention to divergences for additional confirmation of trend reversals. 3. Alerts: — Set up alerts for buy and sell signals to receive notifications in real-time. — Enable divergence alerts to be notified of potential trend reversals. Conclusion The RSI BB StdDev Signal Indicator is a comprehensive tool that combines the strengths of the RSI and Bollinger Bands to provide traders with more accurate and reliable signals. Whether you are a beginner or an experienced trader, this indicator can enhance your trading strategy by offering clear visual cues and customizable alerts. Note This indicator is provided with open-source code, allowing users to understand its logic and customize it further if needed. The detailed description and customizable settings ensure that traders of all levels can benefit from its unique features.
Pine Script™ indicator
by trade_lexx
Momentum Matrix (BTC-COIN)The Momentum Matrix (BTC-COIN) indicator analyzes the momentum relationship between Coinbase stock ( NASDAQ:COIN ) and Bitcoin ( CRYPTOCAP:BTC ). By combining RSI, correlation, and dominance metrics, it identifies bullish and bearish macro trends to align trades with market momentum. How It Works Price Inputs: Pulls weekly price data for CRYPTOCAP:BTC and NASDAQ:COIN for macro analysis. Metrics Calculated: • RSI Divergence: Measures momentum differences between CRYPTOCAP:BTC and $COIN. • Price Ratio: Tracks the $COIN/ CRYPTOCAP:BTC relationship relative to its long-term average (SMA). • Correlation: Analyzes price co-movement between CRYPTOCAP:BTC and $COIN. • Dominance Impact: Incorporates CRYPTOCAP:BTC dominance for broader crypto trends. Composite Momentum Score: Combines these metrics into a smoothed macro momentum value. Thresholds for Trend Detection: Upper and lower thresholds dynamically adapt to market conditions. Signals and Visualization: • Buy Signal: Momentum exceeds the upper threshold, indicating bullish trends. • Sell Signal: Momentum falls below the lower threshold, indicating bearish trends. • Background Colors: Green (bullish), Red (bearish). Strengths Integrates multiple metrics for robust macro analysis. Dynamic thresholds adapt to market conditions. Effective for identifying macro momentum shifts. Limitations Lag in high volatility due to smoothing. Less effective in choppy, sideways markets. Assumes CRYPTOCAP:BTC dominance drives NASDAQ:COIN momentum, which may not always hold true. Improvements Multi-Timeframe Analysis: Add daily or monthly data for precision. Volume Filters: Include volume thresholds for signal validation. Additional Metrics: Consider MACD or Stochastics for further confirmation. Complementary Tools Volume Indicators: OBV or cumulative delta for confirmation. Trend-Following Systems: Pair with moving averages for timing. Market Breadth Metrics: Combine with CRYPTOCAP:BTC dominance trends for context.
Pine Script™ indicator
by SHA256orBUST
DAILY Supertrend + EMA Crossover with RSI FilterThis strategy is a technical trading approach that combines multiple indicators—Supertrend, Exponential Moving Averages (EMAs), and the Relative Strength Index (RSI)—to identify and manage trades. Core Components: 1. Exponential Moving Averages (EMAs): Two EMAs, one with a shorter period (fast) and one with a longer period (slow), are calculated. The idea is to spot when the faster EMA crosses above or below the slower EMA. A fast EMA crossing above the slow EMA often suggests upward momentum, while crossing below suggests downward momentum. 2. Supertrend Indicator: The Supertrend uses Average True Range (ATR) to establish dynamic support and resistance lines. These lines shift above or below price depending on the prevailing trend. When price is above the Supertrend line, the trend is considered bullish; when below, it’s considered bearish. This helps ensure that the strategy trades only in the direction of the overall trend rather than against it. 3. RSI Filter: The RSI measures momentum. It helps avoid buying into markets that are already overbought or selling into markets that are oversold. For example, when going long (buying), the strategy only proceeds if the RSI is not too high, and when going short (selling), it only proceeds if the RSI is not too low. This filter is meant to improve the quality of the trades by reducing the chance of entering right before a reversal. 4. Time Filters: The strategy only triggers entries during user-specified date and time ranges. This is useful if one wants to limit trading activity to certain trading sessions or periods with higher market liquidity. 5. Risk Management via ATR-based Stops and Targets: Both stop loss and take profit levels are set as multiples of the ATR. ATR measures volatility, so when volatility is higher, both stops and profit targets adjust to give the trade more breathing room. Conversely, when volatility is low, stops and targets tighten. This dynamic approach helps maintain consistent risk management regardless of market conditions. Overall Logic Flow: - First, the market conditions are analyzed through EMAs, Supertrend, and RSI. - When a buy (long) condition is met—meaning the fast EMA crosses above the slow EMA, the trend is bullish according to Supertrend, and RSI is below the specified “overbought” threshold—the strategy initiates or adds to a long position. - Similarly, when a sell (short) condition is met—meaning the fast EMA crosses below the slow EMA, the trend is bearish, and RSI is above the specified “oversold” threshold—it initiates or adds to a short position. - Each position is protected by an automatically calculated stop loss and a take profit level based on ATR multiples. Intended Result: By blending trend detection, momentum filtering, and volatility-adjusted risk management, the strategy aims to capture moves in the primary trend direction while avoiding entries at excessively stretched prices. Allowing multiple entries can potentially amplify gains in strong trends but also increases exposure, which traders should consider in their risk management approach. In essence, this strategy tries to ride established trends as indicated by the Supertrend and EMAs, filter out poor-quality entries using RSI, and dynamically manage trade risk through ATR-based stops and targets.
Pine Script™ strategy
by Mohamed_Abbas
Double RSIDouble RSI (DRSI) Indicator The Double RSI (DRSI) is a technical analysis tool designed to provide traders with enhanced buy and sell signals by identifying uptrend and downtrend thresholds. It refines traditional RSI-based signals by applying a "double calculation" to the Relative Strength Index (RSI), improving precision in detecting trend changes. Key Concepts Behind the Indicator 1. Double RSI Calculation The DRSI indicator takes the standard RSI (calculated using the closing price over a specified length) and applies a second RSI calculation to it. This creates a smoother, more refined RSI value, making it more effective at highlighting the general trend of the market. RSI: Measures the strength of recent price movements, ranging from 0 to 100. Double RSI (DRSI): Applies the RSI formula to the RSI values themselves, smoothing out fluctuations and generating clearer signals. How Does the Indicator Work? The DRSI identifies uptrends and downtrends using two user-defined thresholds: Uptrend Threshold (Default = 59): A value above this threshold signals a potential shift into an uptrend. Downtrend Threshold (Default = 52): A value below this threshold signals a potential shift into a downtrend. Signal Generation Buy Signal: A crossover occurs when the DRSI value crosses above the Downtrend Threshold, signaling the beginning of an upward movement. Sell Signal: A crossunder occurs when the DRSI value crosses below the Uptrend Threshold, signaling the beginning of a downward movement. Customizable Inputs The indicator offers customizable settings for increased flexibility: DRSI Length (Default = 13): Determines the lookback period for RSI calculations. A shorter length increases sensitivity, while a longer length smooths the signals. Uptrend Threshold (Default = 59): Sets the level above which an uptrend is confirmed. Downtrend Threshold (Default = 52): Sets the level below which a downtrend is confirmed. Bar Color and Glow Effects: Traders can enable colored candles or glowing DRSI lines for better visual representation. Why is This Indicator Useful for Traders? 1. Noise Reduction By applying a second RSI calculation, the DRSI smooths out minor fluctuations and highlights the overall trend. 2. Clear Uptrend and Downtrend Signals The indicator provides intuitive buy (green arrow) and sell (red arrow) markers, simplifying decision-making. 3. Customizable Thresholds Traders can adjust the thresholds and length to better suit specific trading strategies or market conditions. 4. Bar Coloring Bars are color-coded to indicate the trend: Green (Above Uptrend Threshold): Indicates an uptrend. Red (Below Downtrend Threshold): Indicates a downtrend. How the Indicator Appears on the Chart DRSI Line: A smooth line derived from the double RSI calculation. Threshold Lines: Two horizontal lines (green for the Uptrend Threshold, red for the Downtrend Threshold) to visualize trend changes. Colored Candles: Candlesticks dynamically change color based on the trend direction (green for uptrends, red for downtrends). Buy/Sell Markers: Buy Signal: A green upward triangle below the bar, marking the start of an uptrend. Sell Signal: A red downward triangle above the bar, marking the start of a downtrend. In Summary The Double RSI (DRSI) indicator is a powerful tool for identifying uptrends and downtrends with: Smoothed trend detection using double-calculated RSI values. Clear, actionable buy and sell signals. Customizable settings to match different trading styles. By focusing on trend thresholds rather than overbought or oversold levels, the DRSI provides traders with precise, noise-free signals to optimize their trading decisions.
Pine Script™ indicator
by Clokivez
3
RSI Divergence - Left Candles Onlyrsi The **RSI Divergence** indicator in this script is designed to highlight **divergence** between the **Relative Strength Index (RSI)** and **price action** on a chart. Divergence can be a key signal for potential trend reversals or continuation in technical analysis. ### **Key Components of the Indicator:** 1. **RSI Calculation:** - The **Relative Strength Index (RSI)** is calculated using a typical 14-period length, but the user can customize this input. - RSI is a momentum oscillator that measures the speed and change of price movements, oscillating between 0 and 100. Values above 70 indicate overbought conditions, and values below 30 indicate oversold conditions. 2. **Divergence Logic:** - **Bullish Divergence:** Occurs when the price forms a **lower low**, but the RSI forms a **higher low**. This suggests that despite price continuing to drop, momentum (RSI) is strengthening, which may indicate a potential price reversal to the upside. - **Bearish Divergence:** Occurs when the price forms a **higher high**, but the RSI forms a **lower high**. This indicates that even though price is rising, the momentum (RSI) is weakening, which could signal a price reversal to the downside. 3. **Pivot Identification:** - The script identifies **pivot points** (local highs and lows) on both price and RSI. - **Bullish Divergence:** A lower price low with a higher RSI low. - **Bearish Divergence:** A higher price high with a lower RSI high. 4. **Lookback Periods:** - **Lookback Left (lookbackLeft):** Defines the number of bars to look back for pivot confirmation. This allows for adjusting the sensitivity of the divergence. - The **divergence range** is constrained by two parameters: - **Minimum range (rangeLower):** The minimum number of bars for divergence to be considered. - **Maximum range (rangeUpper):** The maximum number of bars for divergence to be considered. 5. **Signal Generation and Plotting:** - When a **bullish divergence** is detected, a **green label** is plotted below the bar where the divergence occurs. - When a **bearish divergence** is detected, a **red label** is plotted above the bar. - The script uses **`plotshape()`** to plot these labels on the chart. 6. **Alerts:** - Alerts are configured for both **bullish** and **bearish divergences** so that you can be notified when a divergence signal occurs. --- ### **How the Indicator Works:** - The RSI and price action are compared using **pivots**: The script checks whether the price and RSI are forming new highs or lows within the specified **lookback period**. - If the conditions for divergence (higher/lower RSI pivot vs price pivot) are met, a signal is plotted on the chart. - The script helps to visually identify potential reversal points and allows users to set alerts for these divergence signals. --- ### **Use Case:** - This script is useful for traders looking to trade potential trend reversals based on **divergence** between price and RSI. - **Bullish divergence** can indicate a **buy** opportunity, while **bearish divergence** can suggest a **sell** opportunity. - The indicator works best in **volatile markets** and when combined with other technical analysis tools for confirmatio
Pine Script™ indicator
by sarveshmandlik7
RSI and Bollinger Bands Screener [deepakks444]Indicator Overview The indicator is designed to help traders identify potential long signals by combining the Relative Strength Index (RSI) and Bollinger Bands across multiple timeframes. This combination allows traders to leverage the strengths of both indicators to make more informed trading decisions. Understanding RSI What is RSI? The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. Developed by J. Welles Wilder Jr. for stocks and forex trading, the RSI is primarily used to identify overbought or oversold conditions in an asset. How RSI Works: Calculation: The RSI is calculated using the average gains and losses over a specified period, typically 14 periods. Range: The RSI oscillates between 0 and 100. Interpretation: Key Features of RSI: Momentum Indicator: RSI helps identify the momentum of price movements. Divergences: RSI can show divergences, where the price makes a higher high, but the RSI makes a lower high, indicating potential reversals. Trend Identification: RSI can also help identify trends. In an uptrend, the RSI tends to stay above 50, and in a downtrend, it tends to stay below 50. Understanding Bollinger Bands What is Bollinger Bands? Bollinger Bands are a type of trading band or envelope plotted two standard deviations (positively and negatively) away from a simple moving average (SMA) of a price. Developed by financial analyst John Bollinger, Bollinger Bands consist of three lines: Upper Band: SMA + (Standard Deviation × Multiplier) Middle Band (Basis): SMA Lower Band: SMA - (Standard Deviation × Multiplier) How Bollinger Bands Work: Volatility Measure: Bollinger Bands measure the volatility of the market. When the bands are wide, it indicates high volatility, and when the bands are narrow, it indicates low volatility. Price Movement: The price tends to revert to the mean (middle band) after touching the upper or lower bands. Support and Resistance: The upper and lower bands can act as dynamic support and resistance levels. Key Features of Bollinger Bands: Volatility Indicator: Bollinger Bands help traders understand the volatility of the market. Mean Reversion: Prices tend to revert to the mean (middle band) after touching the bands. Squeeze: A Bollinger Band Squeeze occurs when the bands narrow significantly, indicating low volatility and a potential breakout. Combining RSI and Bollinger Bands Strategy Overview: The strategy aims to identify potential long signals by combining RSI and Bollinger Bands across multiple timeframes. The key conditions are: RSI Crossing Above 60: The RSI should cross above 60 on the 15-minute timeframe. RSI Above 60 on Higher Timeframes: The RSI should already be above 60 on the hourly and daily timeframes. Price Above 20MA or Walking on Upper Bollinger Band: The price should be above the 20-period moving average of the Bollinger Bands or walking on the upper Bollinger Band. Strategy Details: RSI Calculation: Calculate the RSI for the 15-minute, 1-hour, and 1-day timeframes. Check if the RSI crosses above 60 on the 15-minute timeframe. Ensure the RSI is above 60 on the 1-hour and 1-day timeframes. Bollinger Bands Calculation: Calculate the Bollinger Bands using a 20-period moving average and 2 standard deviations. Check if the price is above the 20-period moving average or walking on the upper Bollinger Band. Entry and Exit Signals: Long Signal: When all the above conditions are met, consider a long entry. Exit: Exit the trade when the price crosses below the 20-period moving average or the stop-loss is hit. Example Usage Setup: Add the indicator to your TradingView chart. Configure the inputs as per your requirements. Monitoring: Look for the long signal on the chart. Ensure that the RSI is above 60 on the 15-minute, 1-hour, and 1-day timeframes. Check that the price is above the 20-period moving average or walking on the upper Bollinger Band. Trading: Enter a long position when the criteria are met. Set a stop-loss below the low of the recent 15-minute candle or based on your risk management rules. Monitor the trade and exit when the RSI returns below 60 on any of the timeframes or when the price crosses below the 20-period moving average. House Rules Compliance No Financial Advice: This strategy is for educational purposes only and should not be construed as financial advice. Risk Management: Always use proper risk management techniques, including stop-loss orders and position sizing. Past Performance: Past performance is not indicative of future results. Always conduct your own research and analysis. TradingView Guidelines: Ensure that any shared scripts or strategies comply with TradingView's terms of service and community guidelines. Conclusion This strategy combines RSI and Bollinger Bands across multiple timeframes to identify potential long signals. By ensuring that the RSI is above 60 on higher timeframes and that the price is above the 20-period moving average or walking on the upper Bollinger Band, traders can make more informed decisions. Always remember to conduct thorough research and use proper risk management techniques.
Pine Script™ indicator
by deepakks444
3
3 EMA + RSI with Trail Stop [Free990] (LOW TF)This trading strategy combines three Exponential Moving Averages (EMAs) to identify trend direction, uses RSI to signal exit conditions, and applies both a fixed percentage stop-loss and a trailing stop for risk management. It aims to capture momentum when the faster EMAs cross the slower EMA, then uses RSI thresholds, time-based exits, and stops to close trades. Short Explanation of the Logic Trend Detection: When the 10 EMA crosses above the 20 EMA and both are above the 100 EMA (and the current price bar closes higher), it triggers a long entry signal. The reverse happens for a short (the 10 EMA crosses below the 20 EMA and both are below the 100 EMA). RSI Exit: RSI crossing above a set threshold closes long trades; crossing below another threshold closes short trades. Time-Based Exit: If a trade is in profit after a set number of bars, the strategy closes it. Stop-Loss & Trailing Stop: A fixed stop-loss based on a percentage from the entry price guards against large drawdowns. A trailing stop dynamically tightens as the trade moves in favor, locking in potential gains. Detailed Explanation of the Strategy Logic Exponential Moving Average (EMA) Setup Short EMA (out_a, length=10) Medium EMA (out_b, length=20) Long EMA (out_c, length=100) The code calculates three separate EMAs to gauge short-term, medium-term, and longer-term trend behavior. By comparing their relative positions, the strategy infers whether the market is bullish (EMAs stacked positively) or bearish (EMAs stacked negatively). Entry Conditions Long Entry (entryLong): Occurs when: The short EMA (10) crosses above the medium EMA (20). Both EMAs (short and medium) are above the long EMA (100). The current bar closes higher than it opened (close > open). This suggests that momentum is shifting to the upside (short-term EMAs crossing up and price action turning bullish). If there’s an existing short position, it’s closed first before opening a new long. Short Entry (entryShort): Occurs when: The short EMA (10) crosses below the medium EMA (20). Both EMAs (short and medium) are below the long EMA (100). The current bar closes lower than it opened (close < open). This indicates a potential shift to the downside. If there’s an existing long position, that gets closed first before opening a new short. Exit Signals RSI-Based Exits: For long trades: When RSI exceeds a specified threshold (e.g., 70 by default), it triggers a long exit. RSI > short_rsi generally means overbought conditions, so the strategy exits to lock in profits or avoid a pullback. For short trades: When RSI dips below a specified threshold (e.g., 30 by default), it triggers a short exit. RSI < long_rsi indicates oversold conditions, so the strategy closes the short to avoid a bounce. Time-Based Exit: If the trade has been open for xBars bars (configurable, e.g., 24 bars) and the trade is in profit (current price above entry for a long, or current price below entry for a short), the strategy closes the position. This helps lock in gains if the move takes too long or momentum stalls. Stop-Loss Management Fixed Stop-Loss (% Based): Each trade has a fixed stop-loss calculated as a percentage from the average entry price. For long positions, the stop-loss is set below the entry price by a user-defined percentage (fixStopLossPerc). For short positions, the stop-loss is set above the entry price by the same percentage. This mechanism prevents catastrophic losses if the market moves strongly against the position. Trailing Stop: The strategy also sets a trail stop using trail_points (the distance in price points) and trail_offset (how quickly the stop “catches up” to price). As the market moves in favor of the trade, the trailing stop gradually tightens, allowing profits to run while still capping potential drawdowns if the price reverses. Order Execution Flow When the conditions for a new position (long or short) are triggered, the strategy first checks if there’s an opposite position open. If there is, it closes that position before opening the new one (prevents going “both long and short” simultaneously). RSI-based and time-based exits are checked on each bar. If triggered, the position is closed. If the position remains open, the fixed stop-loss and trailing stop remain in effect until the position is exited. Why This Combination Works Multiple EMA Cross: Combining 10, 20, and 100 EMAs balances short-term momentum detection with a longer-term trend filter. This reduces false signals that can occur if you only look at a single crossover without considering the broader trend. RSI Exits: RSI provides a momentum oscillator view—helpful for detecting overbought/oversold conditions, acting as an extra confirmation to exit. Time-Based Exit: Prevents “lingering trades.” If the position is in profit but failing to advance further, it takes profit rather than risking a trend reversal. Fixed & Trailing Stop-Loss: The fixed stop-loss is your safety net to cap worst-case losses. The trailing stop allows the strategy to lock in gains by following the trade as it moves favorably, thus maximizing profit potential while keeping risk in check. Overall, this approach tries to capture momentum from EMA crossovers, protect profits with trailing stops, and limit risk through both a fixed percentage stop-loss and exit signals from RSI/time-based logic.
Pine Script™ strategy
by Free990
12
DemaRSI StrategyThis is a repost to a old script that cant be updated anymore, the request was made on Feb, 27, 2016. Here's a engaging description for the tradingview script: **DemaRSI Strategy: A Proven Trading System** Join thousands of traders who have already experienced the power of this highly effective strategy. The DemaRSI system combines two powerful indicators - DEMA (Double Exponential Moving Average) and RSI (Relative Strength Index) - to generate profitable trades with minimal risk. **Key Features:** * **Trend-Following**: Our algorithm identifies strong trends using a combination of DEMA and RSI, allowing you to ride the waves of market momentum. * **Risk Management**: The system includes built-in stop-loss and take-profit levels, ensuring that your gains are protected and losses are minimized. * **Session-Based Trading**: Trade during specific sessions only (e.g., London or New York) for even more targeted results. * **Customizable Settings**: Adjust the length of moving averages, RSI periods, and other parameters to suit your trading style. **What You'll Get:** * A comprehensive strategy that can be used with any broker or platform * Easy-to-use interface with customizable settings * Real-time performance metrics and backtesting capabilities **Start Trading Like a Pro Today!** This script is designed for intermediate to advanced traders who want to take their trading game to the next level. With its robust risk management features, this strategy can help you achieve consistent profits in various market conditions. **Disclaimer:** This script is not intended as investment advice and should be used at your own discretion. Trading carries inherent risks, and losses are possible. ~Llama3
Pine Script™ strategy
by RicardoSantos
RSI BandsOverview The RSI Bands indicator is a tool designed to calculate and display overbought, oversold, and middle bands based on the Relative Strength Index (RSI). Its primary purpose is to provide traders with a clue on whether to place limit buy or limit sell orders, or to set stop-loss orders effectively. The bands represent the price levels the asset must reach for the RSI to align with specific thresholds: Overbought Band: Displays the upper band representing the price level the asset must reach for the RSI to become overbought. Oversold Band: Displays the lower band representing the price level the asset must reach for the RSI to become oversold. Middle Band: Displays the middle band representing the price level the asset must reach for the RSI to hit the middle level. It uses both traditional RSI calculations and a dynamic period adjustment mechanism for improved adaptability to market conditions. The script also offers smoothing options for the bands. Features Calculates overbought, oversold, and middle bands using RSI values. Dynamically adjusts the RSI period based on pivot points if enabled. Offers smoothing options for the bands: EMA, SMA, or None. Customizable input parameters for flexibility. Inputs Source Value: Selects the data source (e.g., close price) for RSI calculation. Period: Sets the static RSI calculation period. Used if dynamic period is disabled. Use Dynamic Period?: Toggles the use of a dynamic RSI period. Pivot Left/Right Length: Determines the range of bars for pivot detection when using dynamic periods. Dynamic Period Multiplier: Scales the dynamically calculated RSI period. Overbought Level: RSI level that marks the overbought threshold. Oversold Level: RSI level that marks the oversold threshold. Middle Level: RSI level used as a midpoint reference. Smoothing Type: Specifies the smoothing method for the bands (EMA, SMA, or None). Smoothing Length: Length used for the selected smoothing method. Key Calculations RSI Calculation: Computes RSI using gains and losses over the specified period (dynamic or static). Incorporates a custom function for calculating RSI with dynamic periods. Dynamic Period Adjustment: Uses pivot points to determine an adaptive RSI period. Multiplies the base dynamic period by the Dynamic Period Multiplier. Band Calculation: Calculates price changes (deltas) required to achieve the overbought, oversold, and middle RSI levels. The price changes (deltas) are determined using an iterative approximation technique. For each target RSI level (overbought, oversold, or middle), the script estimates the required change in price by adjusting a hypothetical delta value until the calculated RSI aligns with the target RSI. This approximation ensures precise calculation of the price levels necessary for the RSI to reach the specified thresholds. Computes the upper (overbought), lower (oversold), and middle bands by adding these deltas to the source price. Smoothing: Applies the selected smoothing method (EMA or SMA) to the calculated bands. Plots Overbought Band: Displays the upper band representing the price level the asset must reach for the RSI to become overbought. Oversold Band: Displays the lower band representing the price level the asset must reach for the RSI to become oversold. Middle Band: Displays the middle band representing the price level the asset must reach for the RSI to hit the middle level. Usage Choose the source value (e.g., close price). Select whether to use a dynamic RSI period or a static one. Adjust pivot lengths and multipliers for dynamic period calculation as needed. Set the overbought, oversold, and middle RSI levels based on your analysis. Configure smoothing options for the bands. Observe the plotted bands and use them to identify potential overbought and oversold market conditions.
Pine Script™ indicator
by CrimsonVault