New Pine Script Published: EMA RSI Momentum Strategy

 This is a momentum strategy that strikes while its hot and exits before the momentum ended. It is actually quite by using only 2 indicators which Exponential Moving Average (EMA) and Relative Strength Index (RSI). 

Strategy Technical Description: It place Buy order when price crosses up EMA line and RSI is above BUY threshold. It exits when the RSI reaches SELL threshold.

Recommended setting:

Pair: RNDR (Binance)

Timeframe: 5 minutes

Order Size: 100% equity

Pyramiding: 1 order

Commission: 0.1 %

//@version=5

strategy("EMA RSI Momentum Strategy TF5min [capayam.com]", overlay=false, initial_capital = 10, default_qty_type=strategy.percent_of_equity, default_qty_value=100, commission_type=strategy.commission.percent , commission_value=0.1)

//Desc: Buys when price crosses above long EMA line and above RSI Buy threshold. Exits when RSI above Sell threshold.

//Recomended pair: RNDRUSDT TF5min (Binance)

// Adjustable Inputs

emaLength = input.int(450, title="EMA Length")

rsiLength = input.int(14, title="RSI Length")

rsiOverboughtLevel = input.int(80, title="RSI Sell Threshold")

rsiOversoldLevel = input.int(67, title="RSI Buy Threshold")

// Define the EMAs

ema = ta.ema(close, emaLength)

// Define the RSI

rsi = ta.rsi(close, rsiLength)

// Buy Condition: Price crosses above Long EMA and RSI buy Threshold

buyCondition = ta.crossover(close, ema) and rsi > rsiOversoldLevel

// Exit Condition

exitCondition = rsi > rsiOverboughtLevel

// Plot the EMAs

plot(ema, color=color.green, title="EMA Long")

// Plot the RSI

hline(rsiOverboughtLevel, "Overbought", color=color.red)

hline(rsiOversoldLevel, "Oversold", color=color.green)

plot(rsi, title="RSI", color=color.purple)

// Strategy entry and exit

if (buyCondition)

    strategy.entry("Buy", strategy.long)

if (exitCondition)

    strategy.close("Buy")

Please share your recomended setting in the comment section :)