Specification
//@version=5
indicator("Enhanced SMA Crossover with RSI Confirmation", shorttitle="SMA Cross RSI", overlay=true)
// Define the length of the short-term and long-term moving averages
shortLength = input.int(9, title="Short-term Moving Average Length")
longLength = input.int(21, title="Long-term Moving Average Length")
rsiLength = input.int(14, title="RSI Length")
rsiOverbought = input.int(70, title="RSI Overbought Level")
rsiOversold = input.int(30, title="RSI Oversold Level")
// ATR settings for calculating Take Profit and Stop Loss
atrLength = input.int(14, title="ATR Length")
atrMultiplier = input.float(1.5, title="ATR Multiplier")
// Calculate the short-term and long-term moving averages
shortSMA = ta.sma(close, shortLength)
longSMA = ta.sma(close, longLength)
// Calculate RSI
rsi = ta.rsi(close, rsiLength)
// Calculate ATR
atr = ta.atr(atrLength)
// Define Take Profit and Stop Loss levels
takeProfit = atr * atrMultiplier
stopLoss = atr * atrMultiplier
// Plot the moving averages
plot(shortSMA, color=color.blue, title="Short-term SMA")
plot(longSMA, color=color.red, title="Long-term SMA")
// Generate entry signals with RSI confirmation
longCondition = ta.crossover(shortSMA, longSMA) and rsi < rsiOverbought
shortCondition = ta.crossunder(shortSMA, longSMA) and rsi > rsiOversold
// Plot entry signals on the chart with labels
plotshape(series=longCondition, location=location.belowbar, color=color.green, style=shape.labelup, text="BUY", title="Buy Signal")
plotshape(series=shortCondition, location=location.abovebar, color=color.red, style=shape.labeldown, text="SELL", title="Sell Signal")
// Labels for entry points with Take Profit and Stop Loss
if (longCondition)
label.new(bar_index, low, text="BUY\nTP: " + str.tostring(close + takeProfit, format.mintick) + "\nSL: " + str.tostring(close - stopLoss, format.mintick),
style=label.style_label_up, color=color.green, textcolor=color.white, size=size.small)
if (shortCondition)
label.new(bar_index, high, text="SELL\nTP: " + str.tostring(close - takeProfit, format.mintick) + "\nSL: " + str.tostring(close + stopLoss, format.mintick),
style=label.style_label_down, color=color.red, textcolor=color.white, size=size.small)
// Display alerts
alertcondition(longCondition, title="Buy Alert", message="Buy Signal: Short-term SMA crossed above Long-term SMA with RSI confirmation")
alertcondition(shortCondition, title="Sell Alert", message="Sell Signal: Short-term SMA crossed below Long-term SMA with RSI confirmation")
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