RSI-VWAP Indicator: Free TradingView Strategy (Pine Script)

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

RSI-VWAP Indicator plots dedicated long and short RSI-VWAP lines with customizable overbought and oversold thresholds, alongside an EMA and SMA trend ribbon in a separate pane. Trades are entered on RSI-VWAP threshold crossovers and managed with percentage-based take profit, stop loss, and trailing stop levels. User inputs allow full control over indicator lengths, oversold and overbought levels, risk percentages, and backtest execution dates.

RSI calculation using VWAP source
Separate long and short RSI-VWAP oscillators
EMA and SMA trend ribbon
Percentage-based stop loss and take profit

Details

Published by

oguzhandilber on GitHub

Type

Strategy, Pine Script v4

Draws

Separate pane below the chart

Markets

Any symbol

Timeframes

Any timeframe

Risk Notes

The strategy can add several entries in the same direction

File

RSI-VWAP.pine

Repository

github.com/oguzhandilber/PineScripts. See its other scripts in the library

Topics

pinescriptpinescript-indicatorspinescript-strategiestradingviewtrading-strategies

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

Setting	Type	Default	Variable
Period	`int`	`14`	`ribbon_period`
RSI VOLUME WEIGHTED AVERAGE PRICE LONG	`bool`	`true`	`Act_RSI_VWAP_long`
RSI-VWAP LENGTH LONG	`int`	`15`	`RSI_VWAP_length_long`
RSI-VWAP OVERSOLD LONG	`float`	`15`	`RSI_VWAP_overSold_long`
RSI-VWAP OVERBOUGHT LONG	`float`	`72`	`RSI_VWAP_overBought_long`
RSI VOLUME WEIGHTED AVERAGE PRICE SHORT	`bool`	`true`	`Act_RSI_VWAP_short`
RSI-VWAP LENGTH SHORT	`int`	`14`	`RSI_VWAP_length_short`
RSI-VWAP OVERSOLD SHORT	`float`	`8`	`RSI_VWAP_overSold_short`
RSI-VWAP OVERBOUGHT SHORT	`float`	`72`	`RSI_VWAP_overBought_short`
Long Take Profit %	`int`	`100`	`long_tp_inp`
Long Stop Loss %	`float`	`3.3`	`long_sl_inp`
Trailing Stop Long	`int`	`100`	`long_trailing`

Show all 21 settings

Setting	Type	Default	Variable
Short Take Profit %	`int`	`100`	`short_tp_inp`
Short Stop Loss %	`int`	`4`	`short_sl_inp`
Trailing Stop short	`int`	`100`	`short_trailing`
Backtest Start Year	`int`	`2019`	`testStartYear`
Backtest Start Month	`int`	`1`	`testStartMonth`
Backtest Start Day	`int`	`1`	`testStartDay`
Backtest Stop Year	`int`	`2020`	`testStopYear`
Backtest Stop Month	`int`	`12`	`testStopMonth`
Backtest Stop Day	`int`	`31`	`testStopDay`

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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