RSI Trading Strategy with EMA and ATR Profit __ahmad__razavi__

2024年12月29日

### Code Breakdown

1. **Strategy Declaration**:
```pinescript
//version=6
strategy("RSI Trading Strategy with EMA and ATR Stop Loss/Take Profit", overlay=true)
```
- `//version=6`: This specifies that the script uses version 6 of Pine Script.
- `strategy(...)`: This function defines the properties of the trading strategy, including its title and whether it overlays on the price chart (`overlay=true`).

2. **Input Parameters**:
```pinescript
length = input.int(14, minval=1, title="RSI Length")
src = input(close, title="Source")
rsi = ta.rsi(src, length)
```
- `length`: Input for the RSI length, defaulting to 14.
- `src`: Input for the source data (default is the closing price).
- `rsi`: Calculation of the RSI based on the specified source and length.

3. **Smoothing the RSI**:
```pinescript
smoothingLength = input.int(14, minval=1, title="Smoothing Length")
smoothedRsi = ta.ema(rsi, smoothingLength) // Using EMA to smooth RSI
```
- This section defines a smoothing length and calculates a smoothed version of the RSI using an Exponential Moving Average (EMA).

4. **ATR Calculation**:
```pinescript
atrLength = input.int(14, title="ATR Length")
atrMultiplier = input.float(1, title="ATR Multiplier")
atrValue = ta.atr(atrLength) // Calculate ATR
```
- `atrLength`: Input for the ATR calculation period.
- `atrMultiplier`: Input to set how many times the ATR will be used for stop-loss and take-profit levels.
- `atrValue`: Calculation of ATR based on the specified length.

5. **Trading Conditions**:
The following conditions define when to enter long or short positions based on RSI levels:

- **Long Entry Condition**:
```pinescript
if (ta.crossover(smoothedRsi, level2))
strategy.entry("Long", strategy.long)
strategy.exit("Take Profit/Stop Loss", "Long", stop=close - atrMultiplier * atrValue, limit=close + atrMultiplier * atrValue, comment="")
crossCount := crossCount + 1
crossPrice := close
```
- A long position is entered when the smoothed RSI crosses above level 70 (`level2`).
- The exit conditions set a stop-loss and take-profit based on ATR.

- **Short Entry Condition**:
```pinescript
if (ta.crossunder(smoothedRsi, level2))
strategy.entry("Short", strategy.short)
strategy.exit("Take Profit/Stop Loss", "Short", stop=close + atrMultiplier * atrValue, limit=close - atrMultiplier * atrValue, comment="")
crossCount := crossCount + 1
crossPrice := close
```
- A short position is entered when the smoothed RSI crosses below level 70.
- Similar exit conditions apply as in long entries.

- **Additional Long and Short Conditions**:
The script also includes conditions for entering long positions when crossing above level 30 (`level1`) and short positions when crossing below level 30.

6. **Cross Count Table**:
```pinescript
if (not na(crossPrice))
table.cell(crossingTable, 0, crossCount % 5, text=str.tostring(crossCount), bgcolor=color.green)
table.cell(crossingTable, 1, crossCount % 5, text=str.tostring(crossPrice), bgcolor=color.green)
```
- A table is created to display the count of crosses and their prices.
- The table updates every time a crossover occurs.

7. **Plotting RSI and Levels**:
```pinescript
plot(smoothedRsi, title="Smoothed RSI", color=color.blue)
hline(level1, "Level 30", color=color.red)
hline(level2, "Level 70", color=color.green)
```
- The smoothed RSI is plotted in blue.
- Horizontal lines are drawn at levels 30 and 70 to indicate overbought and oversold conditions.

### Summary

This script provides a comprehensive trading strategy that utilizes both RSI and ATR to manage trades effectively. It allows traders to enter positions based on RSI movements while using ATR to set dynamic stop-loss and take-profit levels. Additionally, it keeps track of how many times the RSI has crossed specified levels and displays this information in a table on the chart.