New Pine Script Published: EMA RSI Momentum Strategy

Pine Script Strategy

This is a momentum strategy that strikes while its hot and exits before the momentum ended. It is actually quite by using only 2 indicators which Exponential Moving Average (EMA) and Relative Strength Index (RSI).

Strategy Technical Description: It place Buy order when price crosses up EMA line and RSI is above BUY threshold. It exits when the RSI reaches SELL threshold.

Recommended setting:

Pair: RNDR (Binance)

Timeframe: 5 minutes

Order Size: 100% equity

Pyramiding: 1 order

Commission: 0.1 %

//@version=5
strategy(“EMA RSI Momentum Strategy TF5min [capayam.com]”, overlay=false, initial_capital = 10, default_qty_type=strategy.percent_of_equity, default_qty_value=100, commission_type=strategy.commission.percent , commission_value=0.1)
//Desc: Buys when price crosses above long EMA line and above RSI Buy threshold. Exits when RSI above Sell threshold.
//Recomended pair: RNDRUSDT TF5min (Binance)
// Adjustable Inputs
emaLength = input.int(450, title=“EMA Length”)
rsiLength = input.int(14, title=“RSI Length”)
rsiOverboughtLevel = input.int(80, title=“RSI Sell Threshold”)
rsiOversoldLevel = input.int(67, title=“RSI Buy Threshold”)
// Define the EMAs
ema = ta.ema(close, emaLength)
// Define the RSI
rsi = ta.rsi(close, rsiLength)
// Buy Condition: Price crosses above Long EMA and RSI buy Threshold
buyCondition = ta.crossover(close, ema) and rsi > rsiOversoldLevel
// Exit Condition
exitCondition = rsi > rsiOverboughtLevel
// Plot the EMAs
plot(ema, color=color.green, title=“EMA Long”)
// Plot the RSI
hline(rsiOverboughtLevel, “Overbought”, color=color.red)
hline(rsiOversoldLevel, “Oversold”, color=color.green)
plot(rsi, title=“RSI”, color=color.purple)
// Strategy entry and exit
if (buyCondition)
    strategy.entry(“Buy”, strategy.long)
if (exitCondition)
    strategy.close(“Buy”)

Please share your recomended setting in the comment section 🙂

New Pine Script Published: EMA RSI Momentum Strategy