mmoiwgg

EMA+RSI Pump & Drop Swing Sniper (With Alerts)

This is using an EMA and RSI with slightly modified settings to give good entry and exit points while looking at Bitcoin . I use this on a 4-hour chart and with other indicators to find good positions to enter a trade or exit if things are turning red.

If you click on the EMA line it will color the bars of the chart based on if they are above or below the EMA - This is just visually helpful for me to see the active trend.

Make sure you hover over or click on the EMA line to see the colors of the candles change - it's not visible by default or without doing this.
Release Notes: Fixed code that was causing the long and short alerts to fire at opposite times.
Thanks to @pacbrother for catching this.
Release Notes: Removed offset=-1 which was displaying the L or S earlier than the alert would call it.
I still don't recommend you use this at your only alert to enter or exit a trade. I just use this as a visual confirmation with other indicators.
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.

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Comments

Hey man great job, but the short alert seems to trigger multiple times and I was wondering if there was a way to fix this. The long alert is perfect though.
Thanks man
+4 Reply
does this repaint? i can see that it enters trades typically two candles after the buy shouldve been triggered? how do i get rid of this
+1 Reply
mmoiwgg edhartless
@edhartless, I removed the offset, I was using it as a visual only and not as an entry or exit alert so the offset at -1 was showing a L or S 1 bar early.
If you use it as an entry or exit it will now enter or exit on the very next candle after the alert is called.
+1 Reply
Is this used to stop bot and start bot or only deal start and stop?
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mmoiwgg MrXtream
@MrXtream, You can use it either way you want to - for example if you are using it with something like 3commas, and you already have a deal start condition for your bot, you may want to use this as an alert to stop or start the bot from running. If you use it in that way, probably good on the 4 hour chart.
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Good job,
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Can anyone explain to me how this code is working? How does it determine when to short or go long?
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just for kicks, im trying this on a 1min TS on various coins on papertrading :) im really curios as to what other indicators would refine this??
thanks for your work!
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Why is the sell alert is being sent multiple times? This causes lossess :(. Any way to fix this? Is it because the short position input condition is set at high?
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