OPEN-SOURCE SCRIPT
Trend Pullback EMA Combo: Algorithmic Trend Following
This strategy is designed to capture high-probability trend continuations by identifying "pullbacks" within a strong structural trend. By combining the long-term smoothing of EMA 200 with the medium-term EMA 50 and the momentum oscillators of WaveTrend (VuManChu style), it filters out noise and enters trades only when price momentum aligns with the primary market direction.
he system evaluates the market based on three layers of confirmation:
Trend Filter: Defines the primary direction via EMA 200.
Pullback Zone: Looks for price positioning between EMA 50 and EMA 200 to ensure we aren't chasing overextended moves.
Trigger: Uses a crossover of WaveTrend (WT1 & WT2) to identify the momentum shift.
Entry Logic:
Long: Price > EMA 200 AND Price < EMA 50 AND WT1 crosses over WT2.
Short: Price < EMA 200 AND Price > EMA 50 AND WT1 crosses under WT2.
I am committed to making this tool as effective as possible. Your feedback is invaluable! Please share your backtest results in the comments below. If you have ideas for technical improvements or code optimizations, feel free to suggest them. Together, we can refine this system for the whole community
Disclaimer: Trading involves significant risk of loss and is not suitable for all investors. Past performance does not guarantee future results. This script is for educational purposes only. Never trade with money you cannot afford to lose.
he system evaluates the market based on three layers of confirmation:
Trend Filter: Defines the primary direction via EMA 200.
Pullback Zone: Looks for price positioning between EMA 50 and EMA 200 to ensure we aren't chasing overextended moves.
Trigger: Uses a crossover of WaveTrend (WT1 & WT2) to identify the momentum shift.
Entry Logic:
Long: Price > EMA 200 AND Price < EMA 50 AND WT1 crosses over WT2.
Short: Price < EMA 200 AND Price > EMA 50 AND WT1 crosses under WT2.
I am committed to making this tool as effective as possible. Your feedback is invaluable! Please share your backtest results in the comments below. If you have ideas for technical improvements or code optimizations, feel free to suggest them. Together, we can refine this system for the whole community
Disclaimer: Trading involves significant risk of loss and is not suitable for all investors. Past performance does not guarantee future results. This script is for educational purposes only. Never trade with money you cannot afford to lose.
Script de código abierto
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La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que cualquier republicación del código está sujeta a nuestras Normas internas.
🔓 Unlock all my premium indicators & tools. Join here: whop.com/joined/mystrategyhub/trading-view-Vs8vKSmd5GTCLD/app/
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.