OPEN-SOURCE SCRIPT

Super Trend with EMA, RSI & Signals

121
//version=6
strategy("Super Trend with EMA, RSI & Signals", overlay=true, default_qty_type=strategy.percent_of_equity, default_qty_value=10)

// Super Trend Indicator
atrLength = input.int(10, title="ATR Length")
factor = input.float(3.0, title="Super Trend Multiplier")
[st, direction] = ta.supertrend(factor, atrLength)

// 200 EMA for Trend Confirmation
emaLength = input.int(200, title="EMA Length")
ema200 = ta.ema(close, emaLength)

// RSI for Momentum Confirmation
rsiLength = input.int(14, title="RSI Length")
rsi = ta.rsi(close, rsiLength)
useRSIFilter = input.bool(true, title="Use RSI Filter?")
rsiThreshold = 50

// Buy & Sell Conditions
buyCondition = ta.crossover(close, st) and close > ema200 and (not useRSIFilter or rsi > rsiThreshold)
sellCondition = ta.crossunder(close, st) and close < ema200 and (not useRSIFilter or rsi < rsiThreshold)

// Stop Loss & Take Profit (Based on ATR)
atrMultiplier = input.float(1.5, title="ATR Stop Loss Multiplier")
atrValue = ta.atr(atrLength)
stopLossBuy = close - (atrMultiplier * atrValue)
stopLossSell = close + (atrMultiplier * atrValue)
takeProfitMultiplier = input.float(2.0, title="Take Profit Multiplier")
takeProfitBuy = close + (takeProfitMultiplier * (close - stopLossBuy))
takeProfitSell = close - (takeProfitMultiplier * (stopLossSell - close))

// Execute Trades
if buyCondition
strategy.entry("Buy", strategy.long)
strategy.exit("Take Profit Buy", from_entry="Buy", limit=takeProfitBuy, stop=stopLossBuy)

if sellCondition
strategy.entry("Sell", strategy.short)
strategy.exit("Take Profit Sell", from_entry="Sell", limit=takeProfitSell, stop=stopLossSell)

// Plot Indicators
plot(ema200, title="200 EMA", color=color.blue, linewidth=2)
plot(st, title="Super Trend", color=(direction == 1 ? color.green : color.red), style=plot.style_stepline)

// Plot Buy & Sell Signals as Arrows
plotshape(series=buyCondition, location=location.belowbar, color=color.green, style=shape.labelup, title="Buy Signal", text="BUY")
plotshape(series=sellCondition, location=location.abovebar, color=color.red, style=shape.labeldown, title="Sell Signal", text="SELL")

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