Algo Trading: Simple 3-EMA Strategy (youtube: https://www.youtube.com/channel/UC4dgxbwzMoV6aKSyNkf9hhA)

Algo Trading: Simple 3-EMA Strategy.txt

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © doppelgunner

//@version=4
strategy("Algo Trading: Simple 3-EMA Strategy", overlay=true, margin_long=100, margin_short=100)

ema_fast_length = input(50, "EMA Fast Length", minval=1, group="EMA Settings")
ema_mid_length = input(100, "EMA Mid Length", minval=1, group="EMA Settings")
ema_slow_length = input(200, "EMA Slow Length", minval=1, group="EMA Settings")

ema_slow = ema(close, ema_slow_length)
ema_mid = ema(close, ema_mid_length)
ema_fast = ema(close, ema_fast_length)

plot(ema_slow, color=color.black, linewidth=3)
plot(ema_mid, color=color.red, linewidth=2)
plot(ema_fast, color=color.blue, linewidth=1)

buy = crossover(ema_fast, ema_mid) and close > ema_slow
sell = crossunder(ema_fast, ema_mid) and close < ema_slow

strategy.entry("long", strategy.long, when=buy)
strategy.exit("long", when=sell)

strategy.entry("short", strategy.short, when=sell)
strategy.exit("short", when=buy)

inLong = strategy.position_size > 0
inShort = strategy.position_size < 0
notInTrade = strategy.position_size == 0

showBGColor = input(true, "Show BG Color?", type=input.bool, group="Color Settings")
bgcolor(notInTrade or (not showBGColor) ? color.white : inLong ? color.green : color.red)