RSI + OBV + EMA + ADX FilterThis strategy combines multiple technical indicators to identify high-probability trade setups in trending markets:
🔹 RSI (Relative Strength Index)
Used to identify oversold (< 35) or overbought (> 70) conditions.
🔹 OBV (On-Balance Volume)
Confirms momentum direction through volume shifts.
🔹 EMA (Exponential Moving Average)
Filters trades to align only in the direction of the overall trend (optional).
🔹 ADX (Average Directional Index)
Filters out trades during low-volatility or sideways markets, only triggering when ADX exceeds a user-defined threshold.
🧠 Strategy Logic
Long Entry:
RSI < 35, OBV increasing, (optional: price above EMA), and ADX > threshold
Short Entry:
RSI > 70, OBV decreasing, (optional: price below EMA), and ADX > threshold
Plotting:
Green arrows for long signals
Red arrows for short signals
Optional debug plots (e.g. ADX pass as yellow circles)
⚙️ Parameters (User-Configurable)
RSI Length
EMA Length
ADX Length and Threshold
Enable/disable filters for RSI, OBV, EMA, and ADX
Obv-ema
McNamara Tally [CC]The McNamara's Tally was created by Nolan McNamara (Stocks and Commodities Feb 2022 pgs 44-45) and this aims to fix the issues with both the On Balance Volume and the Accumulation/Distribution Line by using a variation of Wilder's True Range to keep track of volume flow to better differentiate between bullish volume and bearish volume. I added a signal line to this indicator to provide clear buy and sell signals since the original didn't' have any so feel free to experiment and see if you come up with a better signal system. Buy when the indicator line turns green and sell when it turns red. I have included strong buy and sell signals in addition to normal ones so stronger signals are darker in color and normal signals are lighter in color.
Let me know if there are any other indicators or scripts you would like to see me publish!
