New Pine Script: Scalper 5min

This strategy is adapted from TradingView strategy Super Scalper 5min by VinayKumarKV.  

Strategy Description: Uses ATR, EMA, RSI. Specifically for 5min TF.

Potential ROI Monthly (in sideway/bullish): 5%

Recommended Settings:

Pair: BTCUSDT 

Time frame: 5mins

Initial Capital: 50

Base Currency: Default

Order Size: 11 USDT

Pyramiding: 4 orders

Commission: 0.1 %

Take Profit: High + ATR * 5

Stop Loss: Low - ATR * 2

//@version=5

strategy("Scalper5min[capayam.com]", overlay=true)

source = close

atrlen = input.int(7, "ATR Period")

mult = input.float(2, "ATR Multi", step=0.1)

smoothing = input.string(title="ATR Smoothing", defval="WMA", options=["RMA", "SMA", "EMA", "WMA"])

ma_function(source, atrlen) =>

    if smoothing == "RMA"

        ta.rma(source, atrlen)

    else

        if smoothing == "SMA"

            ta.sma(source, atrlen)

        else

            if smoothing == "EMA"

                ta.ema(source, atrlen)

            else

                ta.wma(source, atrlen)

atr_slen = ma_function(ta.tr(true), atrlen)

upper_band = atr_slen * mult + close

lower_band = close - atr_slen * mult

// Create Indicator's

ShortEMAlen = input.int(20, "Fast EMA")

LongEMAlen = input.int(100, "Slow EMA")

shortSMA = ta.ema(close, ShortEMAlen)

longSMA = ta.ema(close, LongEMAlen)

RSILen1 = input.int(33, "Fast RSI Length")

RSILen2 = input.int(200, "Slow RSI Length")

rsi1 = ta.rsi(close, RSILen1)

rsi2 = ta.rsi(close, RSILen2)

atr = ta.atr(atrlen)

//RSI Cross condition

RSILong = rsi1 > rsi2

RSIShort = rsi1 < rsi2

// Specify  conditions

longCondition = open < lower_band

shortCondition = open > upper_band

GoldenLong = ta.crossover(shortSMA,longSMA)

Goldenshort = ta.crossover(longSMA,shortSMA)

plotshape(shortCondition, title="Sell Label", text="Sell", location=location.abovebar, style=shape.labeldown, size=size.tiny, color=color.red, textcolor=color.white, transp=0)

plotshape(longCondition, title="Buy Label", text="Buy", location=location.belowbar, style=shape.labelup, size=size.tiny, color=color.green, textcolor=color.white, transp=0)

plotshape(Goldenshort, title="Golden Sell Label", text="Golden Crossover Short", location=location.abovebar, style=shape.labeldown, size=size.tiny, color=color.blue, textcolor=color.white, transp=0)

plotshape(GoldenLong, title="Golden Buy Label", text="Golden Crossover Long", location=location.belowbar, style=shape.labelup, size=size.tiny, color=color.yellow, textcolor=color.white, transp=0)

// Execute trade if condition is True

if (longCondition)

    stopLoss = low - atr * 2

    takeProfit = high + atr * 5

    strategy.entry("long", strategy.long, when = RSILong)

if (shortCondition)

    stopLoss = high + atr * 2

    takeProfit = low - atr * 5

    strategy.entry("short", strategy.short, when = RSIShort)

// Plot ATR bands to chart

////ATR Up/Low Bands

plot(upper_band)

plot(lower_band)

// Plot Moving Averages

plot(shortSMA, color = color.red)

plot(longSMA, color = color.yellow)