EMA 5 Break + RSI + Clean Entry/TP/SL

📘 "EMA 5 Break + RSI + Clean Entry/TP/SL"


🔍 What This Indicator Does
This indicator provides Buy and Sell signals based on:

Price crossing the 5 EMA, and
RSI confirmation (above/below a threshold).
Once a signal occurs, it automatically plots:

Entry Line
Take Profit (TP) Line
Stop Loss (SL) Line
Along with static labels that are cleanly anchored to the candle.



📈 Signal Logic
✅ Buy Signal
Previous candle was below the EMA 5.
Current candle closes above EMA 5.
RSI is above the "RSI Buy Threshold" (typically > 30).
Then → Buy Signal is Triggered.

❌ Sell Signal
Previous candle was above EMA 5.
Current candle closes below EMA 5.
RSI is below the "RSI Sell Threshold" (typically < 70).
Then → Sell Signal is Triggered.


🎯 TP and SL Calculation
For Buy:
Entry = Close
Stop Loss = Low of signal candle
Take Profit = Entry + (Entry - SL) → risk:reward = 1:1

For Sell:
Entry = Close
Stop Loss = High of signal candle
Take Profit = Entry - (SL - Entry) → risk:reward = 1:1

⚖️ Both trades follow a symmetrical 1:1 RR strategy.


📍 Displayed Elements on Chart

Each new signal replaces the previous one. This keeps the chart clean.

Element Placement
ENTRY Line Horizontal at the entry price
TP Line Dashed green line at calculated TP level
SL Line Dashed red line at calculated SL level
BUY/SELL Label Shown on the current signal candle
ENTRY / TP / SL Labels Plotted at the end of the horizontal lines for visual reference

📊 EMA Plot
A standard 5 EMA is plotted on the chart in orange for trend visualization.

✅ Strengths
Simple and clean: shows only latest trade.
Automatically computes risk:reward 1:1 TP/SL.
Visual Entry/TP/SL levels help decision-making.
Minimalistic labels fixed to candles (non-floating).

🧠 How to Use
For Long (Buy):
Wait for price to close above EMA 5.
Ensure RSI is above Buy Threshold (e.g., > 30).

Once signal appears:

Buy at entry price

TP and SL levels are predefined visually
Trade one signal at a time (last signal shown only)

For Short (Sell):

Wait for price to close below EMA 5.
Ensure RSI is below Sell Threshold (e.g., < 70).
Use the provided SL and TP values.