New Pine Script: Fibonacci Retracement + EMA + RSI = Momentum Strategy

 This is a special script that has been tested longest compared to previous script. Another indicator is added from the previous script which is the Fibonacci retracement level. Stop Loss also available based on previous low candles lookback. StopLoss is very important to protect your capital.

Strategy description: It places BUY order when price crosses up Fibonacci retracement line and when price above long EMA line and RSI is above Buy Threshold. It closes order when the RSI reached Sell Threshold, OR when the price hit StopLoss on previous low lookback. 

Recommended setting:

Pair: ARKUSDT (Binance)

Time frame: 5min

Min capital in wallet: 50 USDT

//@version=5

strategy(ARK(Binance)TF5[www.capayam.com]", overlay=true, initial_capital=25, default_qty_type=strategy.percent_of_equity, default_qty_value=100, commission_type=strategy.commission.percent, commission_value=0.1)

// The default setting is for ARKUSDT (Binance TF5min).

// Adjustable Inputs

emaLength = input.int(535, title="EMA Length")

rsiLength = input.int(18, title="RSI Length")

rsiOverboughtLevel = input.int(72, title="RSI Sell Threshold")

rsiOversoldLevel = input.int(59, title="RSI Buy Threshold")

swingLowLookback = input.int(22, title="Recent Swing Low (StopLoss)")

fibLevel = input(0.539, title="Fibonacci Level")

show_time = input(true, title="---Start Stop (Optional)---")

start_year = input(2022, title="Start Year")

start_month = input(1, title="Start Month (1-12)")

start_day = input(1, title="Start Day (1-31)")

stop_year = input(2026, title="Stop Year")

stop_month = input(12, title="Stop Month (1-12)")

stop_day = input(31, title="Stop Day (1-31)")

// Create timestamps from the input dates

start_trading_date = timestamp(start_year, start_month, start_day, 0, 0)

stop_trading_date = timestamp(stop_year, stop_month, stop_day, 23, 59)

// Define the EMAs

ema = ta.ema(close, emaLength)

// Define the RSI

rsi = ta.rsi(close, rsiLength)

// Identifying the Swing High and Swing Low

var float swingHigh = na

var float swingLow = na

if ta.highestbars(high, 5) == 0

    swingHigh := high

if ta.lowestbars(low, 5) == 0

    swingLow := low

// Fibonacci Retracement Level

fibRetracement = swingHigh - fibLevel * (swingHigh - swingLow)

// Buy Condition:

BuySignal = ta.crossover(close, fibRetracement) and close > ema and rsi > rsiOversoldLevel and (time >= start_trading_date) and (time <= stop_trading_date)

SellSignal = rsi > rsiOverboughtLevel

// Define the stop loss at the recent swing low

recentSwingLow = ta.lowest(low, swingLowLookback)

stopLoss = recentSwingLow

position_size = (math.ceil((strategy.equity / close) * 1))/1

// Strategy entry with stop loss and take profit

if (BuySignal)

    strategy.entry("Buy", strategy.long, qty = position_size)

    strategy.exit("StopLoss", "Buy", stop=stopLoss)

if (SellSignal)

    strategy.close("Buy")

// Plotting on price chart

plot(ema, title="EMA", color=color.blue)  // Ensures EMA is plotted on the price chart

plot(fibRetracement, title="Fibonacci", color=color.red, linewidth=2, style=plot.style_line)  // Ensures Fibonacci line is plotted on the price chart

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