Hope that is okay!
I use 20M timeframe but it should work with any timeframe! I have not tested this system much so I would really appreciate feedback and tips for better entries, settings etc..
Tenken-sen: green line
Kijun-sen: blue line
IF price crosses or bounce above Kijun-sen
THEN see if market has closed above EMA
IF Market has closed above EMA
THEN see if EMA is above Kijun-sen
IF EMA is above Kijun-sen
THEN buy and set trailing stop 5 pips below EMA
IF price crosses or bounce below Kijun-sen
THEN see if market has closed below EMA
IF Market has closed below EMA
THEN see if EMA is below Kijun-sen
IF EMA is below Kijun-sen
THEN sell and set trailing stop 5 pips above EMA
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.
//Created By User Hausky study(title="Hausky100", shorttitle="Hausky100", overlay=true) turningPeriods = input(50, minval=1, title="Tenkan-Sen") standardPeriods = input(100, minval=1, title="Kinjun-Sen") sts = input(true, title="Show Tenkan-Sen (50 Period)?") sks = input(true, title="Show Kinjun-Sen (100 Period)?") //Definitions for Tenkan-Sen (50 Period), Kinjun-Sen (100 Period) donchian(len) => avg(lowest(len), highest(len)) turning = donchian(turningPeriods) standard = donchian(standardPeriods) //Plot Kijun-sen and Tenkan-sen plot(sts and turning ? turning : na, title = 'Tenkan-Sen (50 Period)', linewidth=2, color=green) plot(sks and standard ? standard : na, title = 'Kinjun-Sen (100 Period)', linewidth=2, color=blue) //Definitions for EMA src = close EMA = input(45, minval=1, title="EMA") fPivot = ((high + low + close)/3) fEMA = ema(fPivot, EMA) //Plot EMA plot(fEMA, color=fuchsia, title="EMA", linewidth=2)