OPEN-SOURCE SCRIPT
EMA-RSI Indicator [FGL]
EMA-RSI Indicator
The EMA-RSI Indicator is a trend-following indicator designed to identify high-probability pullback opportunities by combining Multi-Timeframe Exponential Moving Averages (EMA) with RSI Momentum Confirmation.
Instead of generating signals on every trend change, this indicator waits for price to retrace back to the fast EMA while the overall trend and momentum remain aligned.
Features
Multi-Timeframe EMA Trend Detection
Multi-Timeframe RSI Momentum Filter
Pullback Entry Signals
Buy & Sell Alerts
Simple and Clean Chart Visualization
How It Works:
1. Trend Detection (EMA)
The indicator uses two EMAs from different timeframes:
EMA 1 (Fast EMA) – Lower timeframe
EMA 2 (Slow EMA) – Higher timeframe
This helps filter trades in the direction of the dominant market trend.
2. Momentum Confirmation (RSI)
Momentum is confirmed using the RSI and its Moving Average from a selectable timeframe.
This additional filter helps reduce false signals during weak market conditions.
3. Pullback Detection
A signal is generated only when the previous candle touches the Fast EMA.
The candle must:
Cross the Fast EMA (High above EMA and Low below EMA)
Have a relatively small range (default: ≤ 10 price units)
This approach aims to identify healthy pullbacks instead of chasing impulsive price movements.
Alerts:
The indicator includes three built-in alerts:
Buy Alert
Sell Alert
Buy & Sell Alert
These alerts can be used for TradingView notifications.
Recommended Markets
Gold (XAUUSD)
It is recommended to use proper risk management and combine this indicator with support/resistance, market structure, or price action analysis before entering a trade.
The EMA-RSI Indicator is a trend-following indicator designed to identify high-probability pullback opportunities by combining Multi-Timeframe Exponential Moving Averages (EMA) with RSI Momentum Confirmation.
Instead of generating signals on every trend change, this indicator waits for price to retrace back to the fast EMA while the overall trend and momentum remain aligned.
Features
Multi-Timeframe EMA Trend Detection
Multi-Timeframe RSI Momentum Filter
Pullback Entry Signals
Buy & Sell Alerts
Simple and Clean Chart Visualization
How It Works:
1. Trend Detection (EMA)
The indicator uses two EMAs from different timeframes:
EMA 1 (Fast EMA) – Lower timeframe
EMA 2 (Slow EMA) – Higher timeframe
This helps filter trades in the direction of the dominant market trend.
2. Momentum Confirmation (RSI)
Momentum is confirmed using the RSI and its Moving Average from a selectable timeframe.
This additional filter helps reduce false signals during weak market conditions.
3. Pullback Detection
A signal is generated only when the previous candle touches the Fast EMA.
The candle must:
Cross the Fast EMA (High above EMA and Low below EMA)
Have a relatively small range (default: ≤ 10 price units)
This approach aims to identify healthy pullbacks instead of chasing impulsive price movements.
Alerts:
The indicator includes three built-in alerts:
Buy Alert
Sell Alert
Buy & Sell Alert
These alerts can be used for TradingView notifications.
Recommended Markets
Gold (XAUUSD)
It is recommended to use proper risk management and combine this indicator with support/resistance, market structure, or price action analysis before entering a trade.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.