RSI of VWAP has been published for Long side entries only. However, it can be used to short the equity. below are the details ...
1. Add VWAP to your chart
2. Add RSI (period 14) (set oversold line to 25 and overbought line to 70)
3. change the source of RSI to VWAP
when the VWAP crosses down to Oversold line at 25 , take the short position
cover the short position when vwap reaches overbought line 70
you can take profits anywhere you are comfortable / defined targets ...
Let me know what do you think of this idea ... based on that I will implement the code for short strategy.
1. Add VWAP to your chart
2. Add RSI (period 14) (set oversold line to 25 and overbought line to 70)
3. change the source of RSI to VWAP
when the VWAP crosses down to Oversold line at 25 , take the short position
cover the short position when vwap reaches overbought line 70
you can take profits anywhere you are comfortable / defined targets ...
Let me know what do you think of this idea ... based on that I will implement the code for short strategy.