CM_RSI EMA Strategy for TradingView

Strategy Premise

A moving average can be a very effective indicator. Many traders use exponential moving averages, an effective type of moving average indicator, to trade in a variety of markets.

We use an exponential moving average strategy, or EMA strategy, to identify the predominant trend in the market. It can also provide the support and resistance level to execute your trade.

Strategy Logic

Long Entry: When RSI Cross Over EMA RSI, Send LE

Long Exit: When it hit SL or Target. If SL/TGT is not hit and SE

Short Entry: When RSI Cross Under EMA RSI, Send SE

Short Exit: When we hit SL or Target. If SL/TGT is not hit and LX

RSI Strategy Parameters for TradingView Charts

Rsi Length(Mandatory): This is the number of bars we use to calculate rsi Ex: We use 14 à previous 14 candles to calculate rsi.

Oversold(Mandatory): We use it to specify oversold of RSI.

Overbought(Mandatory): We use it to specify overbought of RSI.

Quantity: We use it to specify the trade quantity.

Custom Stop Loss in Points: Movement in chart price against the momentum which will trigger exit

Custom Target in Points: Movement in chart price against the momentum which will trigger exit

TradingView Settings

Download The Pine Script Algo.
Open desired Chart in trading View with normal Candlestick, Select the desired time frame of the chart, Go to the pine editor section, remove the default code, paste the downloaded code, save the file, and to chart.

3. Once we apply Strategy on the chart, click on settings to optimize parameters for your own trading.

Setting Up Alert

Before setting up an alert make sure that You have selected the desired script, timeframe, strategy settings, API bridge is configured and running. Click in settings add alert and paste {{strategy.order.comment}} in message box.

Important: Do not change any settings during live trading.

NOTE: The pinescript works both with webhook alerts (TV Pro plan) and normal popup alerts (TV free plan).