Triple EMA Strategy

This is my first ever script so any suggestions, recommendations or improvement ideas welcome!

This strategy is an implementation of a standard three exponential moving averages strategy (defaults: EMA1=5, EMA2=20 and EMA3=50 candles). Trades are executed if EMA1 crosses above/below EMA2 and they are both above/below EMA3. In addition, the close of the current candle must be above/below the previous one by at least the number of ticks you specify in the "buffer" parameter (default 150 ticks). This additional check eliminates many bad trades.

There is also a trailing stoploss which comes into play once the price has gone above/below its initial value which it then follows the price with to ensure the trade closes at the highest possible price.

I find this strategy works best on a 15 minute chart but feel free to play around and fine tune the various parameters. If you find a good setup that returns decent profits, I'd be keen to hear it!
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?


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