Multi-Timeframe EMA + RSI Filter Breakout Arrows

Multi-Timeframe EMA + RSI Breakout Indicator (5–15 Min TF)

Timeframes: 5-minute and 15-minute charts only
Purpose: Identify precise bullish and bearish breakouts with trend confirmation

🔹 Overview

This indicator combines multiple exponential moving averages (EMAs) and the Relative Strength Index (RSI) to highlight strong breakout opportunities. It is designed for short-term trading on small timeframes (5-min and 15-min charts).

EMA20 and EMA50: track short-term momentum

EMA200 (5-min): used as the main breakout trend filter

EMA200 (15-min): optional higher timeframe trend reference

RSI filter: confirms momentum strength and reduces false breakouts

🔹 How it works

Bullish Breakout (Green Arrow Below Bar)

EMA20 > EMA200 (5min)

EMA50 > EMA200 (5min)

Candle closes bullish (green)

RSI above the bullish threshold (default 55)
✅ Indicates a strong upward breakout — potential long entry

Bearish Breakout (Red Arrow Above Bar)

EMA20 < EMA200 (5min)

EMA50 < EMA200 (5min)

Candle closes bearish (red)

RSI below the bearish threshold (default 45)
✅ Indicates a strong downward breakout — potential short entry

EMA200 (15min)

Plotted for higher timeframe trend reference

Color-coded: green if price above, red if price below

Optional — can be customized or turned off in settings

🔹 Trading Strategy Tips

Entry:

Take trades in the direction of the breakout arrow after candle close confirmation

Ensure the arrow appears once per breakout for clarity

Stop Loss:

For bullish breakouts: below the recent swing low

For bearish breakouts: above the recent swing high

Take Profit / Exit:

Consider risk-to-reward ratios (e.g., 1:2)

Monitor higher timeframe EMA trends for trend continuation

RSI Filter Usage:

RSI acts as a momentum filter; you can adjust thresholds to be more or less aggressive

Optional: disable RSI filter for purely EMA-based breakouts

🔹 Alerts

Built-in alerts trigger only at candle close

Receive notifications for both bullish and bearish breakout signals

🔹 Best Practices

Ideal for scalping and short-term trades on 5-min or 15-min charts

Combine with support/resistance levels or volume for higher probability trades

Do not use on higher timeframes — designed specifically for fast intraday setups