TradingView
AliSignals
2022年2月1日午後10時34分

SAR+RSI+EMAs Signals 

U.S. Dollar / Canadian DollarFOREX.com

詳細

NOTE:
Indicator based strategies may expire and begin to work again. There are various ways to check the expiration of these strategies but I suggest equity curve trading (EC trading) as the best one.
Please check every single indicator based strategy to see if it’s still profitable or it has been expired to avoid losses.

Principles:
I personally believe every profitable indicator-based setup need 3 factors. Actually I analyze indicator-based set up in this way!
1- Trend detector: a tool that detect the “trend”.
2- Oscillators (Discount finder): a tool that detects “discounts” in the direction of the trend.
3- Stimulus: A tool that indicates the Initiation of a movement.
There may be profitable strategies that do not use all three, because other factors are strong enough to lead us to profit, but they are rare and sometimes they hide the other forgotten factor in the main two ones.
Elements:
(Since most of traders here, are familiar with these famous indicators I will not take your time to write about their uses and formula)
SAR: As a Trend detector, regarding position of close and SAR

EMA 7 and EMA 21: As trend detectors, regarding position of EMA 7 as fast “moving average” and EMA 21 as slow one. Also we need another confirmation for trend regarding EMA 7 and closing price of the signal candle.

RSI: In this strategy RSI is used both as a discount finder and a stimulus.
For RSI being over/under 50, regarding the trend, a possible discount may have been occurred. Imagine these conditions: close>EMA7, EMA7>EMA21, close>SAR and simultaneously RSI being under 50 is really a sign of powerful uptrend which it’s RSI decreasing might be a sign of corrective move, which will be following a bullish impulsive move.
The other use of RSI is to stimulate a buy signal by “crossing” over 50 or 30 (50 as balanced point of momentum and 30 as a sign of ending an oversold) or stimulate a sell signal by “crossing” under 50 or 70 (50 as balanced point of momentum and 70 as a sign of ending an overbought).

Entry point: you can use one of the followings.
1- Open of the next candle
2- EMA 7
3- Open of the signal candle
(Totally optional but “open of the next candle” is suggested by me.)
SL: Use one of the followings.
1- SAR or some pips (regarding ATR Or your experience of this trading instrument’s fluctuations in this time frame) below the SAR
2- Fixed amount (regarding ATR Or your experience of this trading instrument’s fluctuations in this time frame)
3- Use EMA21 as dynamic SL (if a candle far enough from the initiative candle close over (for sell) below ( for buy)

Again number 1 is suggested by me.
TP: Use one of the followings.
1- Use static levels or zones of support and resistance as TP.
2- Use dynamic levels for instance band of BB or moving averages (Moving the SL is possible).
3- Use fixed R to R

And I believe static zones of support and resistance work better.

Examples:


I indicate a buy signal on the chart!


Using local level as TP worked just good.


Using EMA was better in this case.



And using a riskier level or a fixed R to R is obvious in the chart!

Since in the range markets, this strategy may not work well and at the same time, TP to SL might be too small to be worth the risk, I prefer to use levels to filter range market conditions!


I convert all those circumstances to a simple buy and sell signs on the chart!
EMA21 and SAR are still visible because it is possible that traders use them for their TP and SL.


This is how it look without EMA21 and SAR!


Another screenshot of this strategy!


I also add a check box to filter signals by another trend detector. MATD created by me to help traders detect trend!
As it’s visible, some profitable signals filtered too, but using a longer-term trend detector as an additional one, alongside the double EMAs is very useful for this strategy.

The other box “use high&low instead of close for fast EMA” makes the “EMA7 and close” trend detector an easygoing one!

Almost everything is editable here!

*** I did not invent this strategy, you can find it for free on net ***
I'll change it to a "strategy" instead of an indicator if reader like to!

コメント
HPotter
AliSignals
@HPotter, I can not hide my happiness that my script has attracted the attention of one of the greats of Pinecoding. I have to thank you for so many reasons and at least three of them are these: 1- your codes that educate, inspired and enrich the whole Tradingview community as well as me. 2- Your generosity 3- Your attention to this script which will never ever be forgotten.
Thank you so much
HPotter
@AliSignals, Thank you too!
Ether2020
Would love a strategy from this and I hope you can do that my dear friend! Thank you so much!
AliSignals
@Ether2020, Thank you so much, I'll sure try for it soon. I'm thinking ,if I can add support and resistance levels as take profit points, strategy would be more profitable and useful.
Your support is really energetic. Thank you.
Ether2020
Amazong what you do my friend! Please keep up your great work because it is very much appriciated. Thank you so much for the hard work!
AliSignals
@Ether2020, Thank you for your great support. It's really valuable and motivational for me when I see the great and experienced trader, that you are, like my work. thank you much for the positive energy you really have.
OSUBeaver4
@AliSignals great work on this, really enjoying messing with it and backtesting. Lots of options to tinker with. Quick q... Are you able to update the buy/sell alerts to just alerts? When I go to create alerts it makes me assign a value to them to trigger the alert, so not sure if this is an easy fix or not. Maybe im missing something. Also, was most your testing on a 4h timeframe or can this be used with default settings on 30m/1hr? Thx!
AliSignals
@OSUBeaver4, Thank you so much for you cm, I'll try to fix it. My tests was on other timeframes too. but I got the better result with 4H timeframe.
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