ChatGPT Certainly! Here's a TradingView Pine Script that combines EMA crossover with RSI to generate buy and sell signals. The script will give a buy signal when the 20 EMA crosses above the 50 EMA and the RSI is below a certain threshold (indicating it's not overbought). Similarly, it will give a sell signal when the 20 EMA crosses below the 50 EMA and the RSI is above a certain threshold (indicating it's not oversold).
pinescript Copy code //version=5 indicator("EMA Crossover with RSI", overlay=true)
// Input for EMAs ema20_length = input.int(20, title="20 EMA Length") ema50_length = input.int(50, title="50 EMA Length")
// Conditions for buy and sell signals buy_condition = ta.crossover(ema20, ema50) and rsi < rsi_overbought sell_condition = ta.crossunder(ema20, ema50) and rsi > rsi_oversold
// Plotting buy and sell signals on the chart plotshape(series=buy_condition, title="Buy Signal", location=location.belowbar, color=color.green, style=shape.labelup, text="BUY") plotshape(series=sell_condition, title="Sell Signal", location=location.abovebar, color=color.red, style=shape.labeldown, text="SELL")
// Adding background color to highlight buy and sell zones bgcolor(buy_condition ? color.new(color.green, 90) : na, title="Buy Background Highlight") bgcolor(sell_condition ? color.new(color.red, 90) : na, title="Sell Background Highlight") Explanation: Input Parameters:
ema20_length and ema50_length to set the lengths for the EMAs. rsi_length for the length of the RSI calculation. rsi_overbought and rsi_oversold to set the levels for overbought and oversold conditions respectively. Calculations:
ema20 and ema50 are calculated using ta.ema. rsi is calculated using ta.rsi. Conditions:
buy_condition checks for the crossover of ema20 above ema50 and that the RSI is below the overbought threshold. sell_condition checks for the crossover of ema20 below ema50 and that the RSI is above the oversold threshold. Plotting:
The EMAs are plotted on the chart. Buy and sell signals are plotted using plotshape. Background colors are added to highlight the buy and sell zones for better visual interpretation.