Lord Loren Strategy

kelmarin

//version=6
indicator("Lord Loren Strategy", overlay=true)

// EMA calculations
ema9 = ta.ema(close, 9)
ema21 = ta.ema(close, 21)
ema50 = ta.ema(close, 50)

// Plotting EMAs
plot(ema9, color=color.blue, title="EMA 9")
plot(ema21, color=color.orange, title="EMA 21")
plot(ema50, color=color.red, title="EMA 50")

// RSI calculation
rsiPeriod = 14
rsi = ta.rsi(close, rsiPeriod)

// Buy/Sell Conditions based on EMA Cross and RSI
buyCondition = ta.crossover(ema9, ema21) and rsi < 70
sellCondition = ta.crossunder(ema9, ema21) and rsi > 30

// Plot Buy/Sell signals
plotshape(series=buyCondition, title="Buy Signal", location=location.belowbar, color=color.green, style=shape.labelup, text="BUY")
plotshape(series=sellCondition, title="Sell Signal", location=location.abovebar, color=color.red, style=shape.labeldown, text="SELL")

// RSI plotting in the same script but with a secondary scale
plot(rsi, color=color.purple, title="RSI", offset=0)
hline(70, "Overbought", color=color.red, linestyle=hline.style_dotted)
hline(30, "Oversold", color=color.green, linestyle=hline.style_dotted)