This Pine v4 strategy draws on the price chart and filters breakouts with a fixed Supertrend, ATR length, volume moving-average markup, and moving-average alignment, plus short and long high-low periods. Trade direction defaults to long and can include shorts.
Strategy · Pine Script v6 · On the chart
PineForge Plumbline PVT VWMA
The strategy calculates a volume-weighted moving average of close prices as the volume-weighted center and a price-volume trend smoothed by EMA as the signal line.
GitHub stars1on the repository
Pine versionv6current
Lines of code35
Settings4inputs
LicenceApache-2.0
Last update5 days ago23 Oct 2026
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
35 lines of Pine Script v6 from validation/ta-plumbline-pvt-vwma-01/strategy.pine, published under Apache-2.0. Keep the author's credit and licence lines when you reuse it.
//@version=6
// SPDX-License-Identifier: Apache-2.0
// Copyright 2026 PineForge
// PineForge Owned Strategy: Plumbline PVT VWMA
// Price-volume accumulation confirms movement above a volume-weighted center.
strategy("PineForge — Plumbline PVT VWMA", overlay=true,
initial_capital=100000,
default_qty_type=strategy.fixed, default_qty_value=2,
pyramiding=0, commission_type=strategy.commission.percent,
commission_value=0.05, slippage=1,
margin_long=100, margin_short=100,
process_orders_on_close=false, calc_on_order_fills=false)
vwmaLength = input.int(33, "VWMA Length", minval=3, group="Trend")
pvtSignalLength = input.int(41, "PVT Signal Length", minval=3, group="Volume Flow")
atrLength = input.int(21, "ATR Length", minval=2, group="Risk")
maximumAtrLoss = input.float(2.2, "Maximum ATR Loss", minval=0.5, step=0.1, group="Risk")
volumeWeightedCenter = ta.vwma(close, vwmaLength)
priceVolumeTrend = ta.pvt
pvtSignal = ta.ema(priceVolumeTrend, pvtSignalLength)
atrValue = ta.atr(atrLength)
confirmedTrend = close > volumeWeightedCenter and priceVolumeTrend > pvtSignal
enterLong = confirmedTrend and not confirmedTrend[1]
trendEnded = close < volumeWeightedCenter or priceVolumeTrend < pvtSignal
riskExceeded = strategy.position_size > 0 and close < strategy.position_avg_price - atrValue * maximumAtrLoss
if strategy.position_size == 0 and enterLong
strategy.entry("Plumbline Long", strategy.long)
else if strategy.position_size > 0 and (trendEnded or riskExceeded)
strategy.close("Plumbline Long", comment=riskExceeded ? "ATR risk" : "Weighted trend")
plot(volumeWeightedCenter, "Volume-Weighted Center", color=color.teal)
plot(priceVolumeTrend - pvtSignal, "PVT Distance", color=color.blue, display=display.data_window)
Overview
PineForge Plumbline PVT VWMA plots the VWMA and PVT distance on the price chart. The strategy enters long positions when price exceeds the VWMA and PVT exceeds its signal with no prior confirmation. It exits on trend reversal when price falls below VWMA or PVT falls below signal, or when price reaches ATR-based risk limit below average entry by maximum ATR loss. Position size is fixed at two units with no pyramiding allowed. Primary settings adjust VWMA length, PVT EMA length, ATR length, and maximum ATR loss percentage.
- Volume Weighted Center
- PVT Distance
- Plumbline Long
- ATR risk
- Weighted trend
Details
Published by
pineforge-4pass on GitHub
Code credit
PineForge, as written in the script's header
Type
Strategy, Pine Script v6
Draws
On the price chart
Category
Trend, Volume, Volatility & bands
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- The strategy enters trades without a stop loss
Topics
algorithmic-tradingbacktestingparitypine-scriptpinescriptquantitative-financetest-corpustradingview
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| VWMA Length | int | 33 | vwmaLength |
| PVT Signal Length | int | 41 | pvtSignalLength |
| ATR Length | int | 21 | atrLength |
| Maximum ATR Loss | float | 2.2 | maximumAtrLoss |
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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