This strategy identifies volume-based rebound signals on the price chart. It detects three or more consecutive lower volume candles followed by a higher volume candle, with price remaining lower from the start of the volume sequence, signaling potential long e
Strategy · Pine Script v4 · On the chart
DOT BTC Binance 1m
This strategy trades the DOT/BTC pair on a one-minute chart.
GitHub stars1on the repository
Pine versionv4older, still runs
Lines of code123
Settings8inputs
LicenceNone stated
Last update4 years ago2 Dec 2021
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 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
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
DOT BTC Binance 1m plots the VWAP of the close and two offset VWAP bands on the price chart. It opens a long when the open is above the upper band and a short when the open is below the lower band, then closes those positions when the open returns to the close VWAP. Percentage stop prices are calculated from the average entry. Settings change stop distances, band offsets, extra same-direction entries, and the backtest day window. The excerpt ends before the order calls.
- VWAP close and offset bands
- Long and short percentage stop prices
- Optional double long and short entries
- Backtest window in days
- Entries and exits versus VWAP
Details
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Max Days Back to Test | int | 90 | daysBackMax |
| Min Days Back to Test | int | 0 | daysBackMin |
| Long Stop Loss % | float | 2 | longStopPerc |
| Short Stop Loss % | float | 3 | shortStopPerc |
| Allow double longs? | bool | true | allowDoubleLongs |
| Allow double shorts? | bool | true | allowDoubleShorts |
| VWAP High % | float | .013 | vwapHighPerc |
| VWAP Low % | float | .013 | vwapLowPerc |
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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