EMA Cross Entries with Kijun Stops and RSI Zone Signals
Summary
This long-and-short strategy enters when the closing price crosses a short EMA. It sets the Ichimoku base line, calculated from the midpoint of the recent high-low range, as the stop reference. Profit targets are set as percentages from the average entry price, and an opposite EMA cross can also close an open position. The configuration permits pyramiding, so repeated signals may add positions.
RSI, a weighted moving average of RSI, and a short simple moving average are plotted, with upper and lower RSI bands. The script records a price level when its SMA-versus-RSI cross condition occurs in an extreme zone, but that condition does not gate the actual entries. The document offers indicator and rule descriptions but no backtest results or evidence of effectiveness. The take-profit setting is configurable, and the short EMA, Kijun stop, and RSI parameters may behave differently across assets and chart intervals.
Key ideas
- Long and short entries are triggered by price crossing the short EMA.
- The Ichimoku base line serves as the stop reference for both trade directions.
- Percentage targets and reverse EMA crosses provide exit mechanisms.
- RSI-zone cross events are recorded for display but do not control entry conditions.
- Pyramiding is enabled, while the document supplies no results validating the strategy.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.