VWAP + Volume: Free TradingView Strategy (Pine Script)

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

30 lines of Pine Script v5 from public/code/indicators__vwap_volume.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.

indicators__vwap_volume.pine

//@version=5
strategy("VWAP + Volume", overlay=true,
         default_qty_type=strategy.percent_of_equity, default_qty_value=10)

volMult = input.float(1.5, "Volume Mult")
slAtrMult = input.float(1.5, "SL ATR")

vwapV  = ta.vwap
atrV   = ta.atr(14)
avgVol = ta.sma(volume, 20)
volSpike = volume > avgVol * volMult

crossUp = ta.crossover(close, vwapV) and volSpike
crossDn = ta.crossunder(close, vwapV) and volSpike

if crossUp and strategy.position_size == 0
    sl = close - slAtrMult * atrV
    risk = close - sl
    strategy.entry("VW L", strategy.long)
    strategy.exit("X", "VW L", stop=sl, limit=close + risk * 2.5)

if crossDn and strategy.position_size == 0
    sl = close + slAtrMult * atrV
    risk = sl - close
    strategy.entry("VW S", strategy.short)
    strategy.exit("X", "VW S", stop=sl, limit=close - risk * 2.5)

plot(vwapV, "VWAP", color.orange, 2)
plotshape(crossUp, "L", shape.triangleup,   location.belowbar, color.lime)
plotshape(crossDn, "S", shape.triangledown, location.abovebar, color.red)

Overview

VWAP + Volume enters long or short positions when the closing price crosses above or below the VWAP line while volume exceeds its 20-period simple moving average by a configurable multiplier. Orders are placed only when flat, with risk defined by an Average True Range stop loss and a take profit set at 2.5 times the initial risk distance. It plots the VWAP line and signal markers directly on the price chart.

VWAP crossover entry triggers
Volume spike confirmation filter
ATR-based dynamic stop loss
Fixed 2.5 risk-to-reward profit target

Details

Published by

muammeryldrm42 on GitHub

Type

Strategy, Pine Script v5

Draws

On the price chart

Markets

Any symbol

Timeframes

M15-H1

Risk Notes

No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.

File

public/code/indicators__vwap_volume.pine

Repository

github.com/muammeryldrm42/straw. See its other scripts in the library

Topics

cryptofuturessodexsosovaluestrategyvaluechain

Settings

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

Setting	Type	Default	Variable
Volume Mult	`float`	`1.5`	`volMult`
SL ATR	`float`	`1.5`	`slAtrMult`

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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