EMA 65 and 200 Strategy (Updated)

//version=5
strategy("EMA 65 and 200 Strategy (Updated)", overlay=true, default_qty_type=strategy.percent_of_equity, default_qty_value=10)

// Define EMAs
ema65 = ta.ema(close, 65)
ema200 = ta.ema(close, 200)

// Plot EMAs
plot(ema65, color=color.blue, linewidth=2, title="EMA 65")
plot(ema200, color=color.red, linewidth=2, title="EMA 200")

// Conditions for sell entry (Price touching EMA65 or EMA200 with a bearish trend)
sell_condition = (close < ema65 and close[1] > ema65) or (close < ema200 and close[1] > ema200)
sell_stop_loss = close + 20 // 20 points above the entry
sell_take_profit = close - 10 // 10 points below the entry

// Conditions for buy entry (Price touching EMA65 or EMA200 with a bullish trend)
buy_condition = (close > ema65 and close[1] < ema65) or (close > ema200 and close[1] < ema200)
buy_stop_loss = close - 20 // 20 points below the entry
buy_take_profit = close + 10 // 10 points above the entry

// Strategy execution: Buy and Sell orders
if (sell_condition)
strategy.entry("Sell", strategy.short, stop=sell_stop_loss, limit=sell_take_profit)

if (buy_condition)
strategy.entry("Buy", strategy.long, stop=buy_stop_loss, limit=buy_take_profit)

// Plot buy and sell signals
plotshape(series=sell_condition, location=location.abovebar, color=color.red, style=shape.labeldown, title="Sell Signal", text="SELL")
plotshape(series=buy_condition, location=location.belowbar, color=color.green, style=shape.labelup, title="Buy Signal", text="BUY")

// Draw stop loss and take profit levels for visualization
plot(sell_condition ? sell_stop_loss : na, color=color.red, style=plot.style_line, linewidth=1, title="Sell Stop Loss")
plot(sell_condition ? sell_take_profit : na, color=color.green, style=plot.style_line, linewidth=1, title="Sell Take Profit")
plot(buy_condition ? buy_stop_loss : na, color=color.red, style=plot.style_line, linewidth=1, title="Buy Stop Loss")
plot(buy_condition ? buy_take_profit : na, color=color.green, style=plot.style_line, linewidth=1, title="Buy Take Profit")