OPEN-SOURCE SCRIPT
Buy Signal EMA& RSI [CocoChoco]
█ OVERVIEW
This indicator is a momentum breakout tool designed for trend-following traders.
It produces buy signals (long only).
It is based on the "50-200 EMA & RSI25 crossover indicator" tradingview.com/v/cbxXe5Kf/ by rahulbalaji4574, which has been upgraded to Pine Script v6. Most importantly, I added filters to reduce false signals and improve overall timing.
The core logic ensures you only enter a trade when a long-term trend is confirmed, momentum is surging but not exhausted, and there is significant market participation (volume).
█ KEY IMPROVEMENTS & LOGIC
This version introduces several "Smart Filters" to the original base logic:
Momentum Sweet Spot: Unlike the original which only required RSI > 50, this version requires the RSI to be between 55 and 80 and actively rising. This avoids "choppy" entries and overextended "blow-off tops."
Trend Strength (ADX): An integrated ADX filter ensures the market is in a strong trend (ADX > 20) before a signal is generated.
Risk Management (ATR Trailing Stop): A dynamic trailing stop-loss based on 1.5x ATR is plotted automatically to help you manage risk and lock in profits.
Real-time Dashboard: A non-intrusive table in the bottom-right corner displays live RSI and ADX values for quick reference.
█ HOW TO USE
Look for the Signal: A large green triangle appears below a bar when all trend, momentum, and volume conditions align.
Manage the Trade: Use the plotted red line as your dynamic trailing stop-loss. If the price closes below this line, the trade is considered exited, and the stop will reset.
Confirm with the Dashboard: Check the bottom-right corner to see if the market is gaining strength (ADX) or nearing exhaustion (RSI).
█ ADJUSTING SETTINGS
You can fully customize the indicator by clicking the Settings (gear icon) next to the indicator name on your chart.
Inputs Tab: Adjust the RSI thresholds, EMA lengths, or the ATR multiplier to fit your specific asset and timeframe.
Style Tab: Change the colors of the 50/200 EMA, the trailing stop-loss line, and the signal triangles to match your chart's theme.
This indicator is a momentum breakout tool designed for trend-following traders.
It produces buy signals (long only).
It is based on the "50-200 EMA & RSI25 crossover indicator" tradingview.com/v/cbxXe5Kf/ by rahulbalaji4574, which has been upgraded to Pine Script v6. Most importantly, I added filters to reduce false signals and improve overall timing.
The core logic ensures you only enter a trade when a long-term trend is confirmed, momentum is surging but not exhausted, and there is significant market participation (volume).
█ KEY IMPROVEMENTS & LOGIC
This version introduces several "Smart Filters" to the original base logic:
Momentum Sweet Spot: Unlike the original which only required RSI > 50, this version requires the RSI to be between 55 and 80 and actively rising. This avoids "choppy" entries and overextended "blow-off tops."
Trend Strength (ADX): An integrated ADX filter ensures the market is in a strong trend (ADX > 20) before a signal is generated.
Risk Management (ATR Trailing Stop): A dynamic trailing stop-loss based on 1.5x ATR is plotted automatically to help you manage risk and lock in profits.
Real-time Dashboard: A non-intrusive table in the bottom-right corner displays live RSI and ADX values for quick reference.
█ HOW TO USE
Look for the Signal: A large green triangle appears below a bar when all trend, momentum, and volume conditions align.
Manage the Trade: Use the plotted red line as your dynamic trailing stop-loss. If the price closes below this line, the trade is considered exited, and the stop will reset.
Confirm with the Dashboard: Check the bottom-right corner to see if the market is gaining strength (ADX) or nearing exhaustion (RSI).
█ ADJUSTING SETTINGS
You can fully customize the indicator by clicking the Settings (gear icon) next to the indicator name on your chart.
Inputs Tab: Adjust the RSI thresholds, EMA lengths, or the ATR multiplier to fit your specific asset and timeframe.
Style Tab: Change the colors of the 50/200 EMA, the trailing stop-loss line, and the signal triangles to match your chart's theme.
オープンソーススクリプト
TradingViewの精神に則り、このスクリプトの作者はコードをオープンソースとして公開してくれました。トレーダーが内容を確認・検証できるようにという配慮です。作者に拍手を送りましょう！無料で利用できますが、コードの再公開はハウスルールに従う必要があります。
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。
オープンソーススクリプト
TradingViewの精神に則り、このスクリプトの作者はコードをオープンソースとして公開してくれました。トレーダーが内容を確認・検証できるようにという配慮です。作者に拍手を送りましょう！無料で利用できますが、コードの再公開はハウスルールに従う必要があります。
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。