This strategy draws on the price chart and identifies mean-reversion opportunities around daily volume-weighted average price (VWAP) bands. It enters long positions when the price crosses above the lower band while the Relative Strength Index indicates oversol
Strategy · Pine Script v4 · On the chart
ARR VWAP Intraday
This strategy plots VWAP on the price chart and trades only between a start hour and an end hour.
Repaints
GitHub stars106on the repository
Pine versionv4older, still runs
Lines of code27
Settings6inputs
LicenceGPL-3.0
Last update2 years ago18 Sep 2024
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new strategy, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart. The trades and results appear in the Strategy Tester tab; adjust the settings with the gear icon.
Source Code
27 lines of Pine Script v4 from ARR VWAP Intraday.pine, published under GPL-3.0. Keep the author's credit and licence lines when you reuse it.
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © ALLURI_RAJU
//@version=4
strategy("ARR VWAP Intraday", overlay=true)
starHrs = input(11, title="Trade start Hours", type=input.integer)
endHrs = input(15, title="Close all trade @ Hours", type=input.integer)
rsiPreiod = input(14, title="RSI Period", type=input.integer)
rsiBuy = input(50, title="Buy when RSI above", type=input.integer)
rsiSell = input(50, title="Sell when RSI Bellow", type=input.integer)
isReversal = input(true, title="Exit on Wap Reversal", type=input.bool)
plot(vwap,color=color.black)
o=(open[1]+close[1])/2
h=max(high,close,o)
l=min(low,close,o)
c=(open+high+low+close)/4
longCondition = vwap > vwap[1] and rsi(close,rsiPreiod)>rsiBuy and hour>starHrs and hour<endHrs
if (longCondition)
strategy.entry("Buy", strategy.long)
shortCondition = vwap < vwap[1] and rsi(close,rsiPreiod)<rsiSell and hour>starHrs and hour<endHrs
if (shortCondition)
strategy.entry("Sell", strategy.short)
if(isReversal)
strategy.close("Buy", when = vwap < vwap[1] ,comment = "ExitBuy")
strategy.close("Sell", when =vwap > vwap[1], comment = "ExitSell")
strategy.close_all(when = hour == endHrs , comment = "Exit All")
Expand (32 lines)
Overview
ARR VWAP Intraday enters long when VWAP is rising and RSI is above a threshold, and short when VWAP is falling and RSI is below a threshold. If the reversal option is on, it closes a long when VWAP turns down and a short when VWAP turns up. It closes every position at the end hour. There is no stop loss, and signals can change on the live bar.
- VWAP slope long and short filter
- RSI threshold entries
- Configurable session hours
- Optional VWAP reversal exit
- Close all at end hour
Details
Published by
hasnocool on GitHub
Code credit
ALLURI_RAJU, as written in the script's header
Type
Strategy, Pine Script v4
Draws
On the price chart
Category
Oscillators & momentum, Volume, Sessions & time
Markets
Any symbol
Timeframes
M15-H1
Risk Notes
- Signals can change on the live bar or after it closes (repainting)
- The strategy enters trades without a stop loss
Topics
analysisbtcusdtcryptocurrencydatapandaspythonsimulationtradingtradingview
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Trade start Hours | int | 11 | starHrs |
| Close all trade @ Hours | int | 15 | endHrs |
| RSI Period | int | 14 | rsiPreiod |
| Buy when RSI above | int | 50 | rsiBuy |
| Sell when RSI Bellow | int | 50 | rsiSell |
| Exit on Wap Reversal | bool | true | isReversal |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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