Triple Confirmation Entries with EMA Trend, RSI Momentum, and Breakouts

Summary

This Pine Script strategy combines three entry conditions: a fast EMA must be above the slow EMA for a long, RSI must exceed its buy threshold, and the close must cross above the latest confirmed swing high. Shorts use the inverse conditions, crossing below a swing low. The default EMA lengths are 50 and 200, RSI length is 14, and swing length is 5; these can be changed in the inputs.

Stops and targets are set from the entry bar’s close using ATR: the stop is one ATR away and the target distance is three times that amount by default. The script plots signals, EMA lines, and position-specific stop and target levels, and defines alert conditions. It specifies an initial capital and position sizing as a percentage of equity, but the excerpt provides no strategy report or performance evidence. Pivot highs and lows require bars on both sides for confirmation, so breakout signals can be delayed; the shown excerpt also ends partway through the alert section.

Key ideas

• Long entries require bullish EMA alignment, RSI above its threshold, and a close crossing the latest swing high.
• Short entries reverse the EMA, RSI, and swing-break conditions.
• ATR sets the stop distance and scales the profit target by a configurable risk-reward ratio.
• The script plots trade signals and risk levels and provides alert conditions.
• The excerpt supplies no backtest results, and confirmed pivots can make breakout levels lag.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.