// Moving Averages
shortMA = ta.sma(close, 20)
longMA = ta.sma(close, 50)
// RSI
rsi = ta.rsi(close, 14)
// Outside Bar Logic (reversed)
isOutsideBar = high > high[1] and low < low[1]
if (isOutsideBar)
if (close < open and close < shortMA and shortMA < longMA and rsi > 70)
strategy.entry("OutBarLE", strategy.long, qty=1, comment="OutBarLE") // Enter Long when original would enter Short
if (close > open and close > shortMA and shortMA > longMA and rsi < 30)
strategy.entry("OutBarSE", strategy.short, qty=1, comment="OutBarSE") // Enter Short when original would enter Long
// Calculate Stop Loss and Target Profit for Long Positions
longStopLoss = strategy.position_avg_price * (1 - stopLossPercent)
longTargetProfit = strategy.position_avg_price * (1 + targetProfitPercent)
// Calculate Stop Loss and Target Profit for Short Positions
shortStopLoss = strategy.position_avg_price * (1 + stopLossPercent)
shortTargetProfit = strategy.position_avg_price * (1 - targetProfitPercent)
// Exit Conditions for Long Positions
if (strategy.position_size > 0) // Long position
strategy.exit("Take Profit/Stop Loss", "OutBarLE", stop=longStopLoss, limit=longTargetProfit)
// Exit Conditions for Short Positions
if (strategy.position_size < 0) // Short position
strategy.exit("Take Profit/Stop Loss", "OutBarSE", stop=shortStopLoss, limit=shortTargetProfit)
```
### Explanation of the Strategy and Indicators
1. **Opposite Entry Conditions**:
- The strategy reverses the entry conditions. It enters long positions when the price closes lower than it opened and vice versa. Additionally, it checks if the short-term moving average is below the long-term moving average for long entries and above for short entries.
2. **Indicators**:
- **Moving Averages (MA)**:
- A 20-period and a 50-period simple moving average are used to confirm the trend direction. Long entries are confirmed if the short MA is below the long MA, and short entries are confirmed if the short MA is above the long MA.
- **Relative Strength Index (RSI)**:
- An RSI with a 14-period setting is used. Long entries are confirmed if the RSI is below 30 (indicating oversold conditions), and short entries are confirmed if the RSI is above 70 (indicating overbought condition)
Mr.Tanaka can help create an EA using the above strategy please????!!
