ediks123

BBofVWAP with entry at Pivot Point

This strategy uses BB of VWAP and Pivot point to enter and exit the Long position.

settings

BB length 50
BB Source VWAP


Entry
When VWAP crossing up BB midline and price/close is above weekly PivotPoint ( you can also use Daily pivot point )

Exit
When VWAP is crossing down BB lower band

Stop Loss
Stop loss defaulted to 5%

Note : Long will position will be exited on either VWAP crossing down BB lower band or stop loss is hit - whichever comes first . Being said that some time your stop loss exit is less than 5% which saves from more losses.

Entry is based on weekly Pivot point , so any time frame below weekly will work perfect. I have tested t on 30 min , 1 HR , 4 Hr , Daily charts . Even weekly setting shows good results , that will work for long term investing style.

if you change Pivot period to Daily , chose time frames below Daily.

I also noticed this strategy mostly do not enter Long position in a down trend. Even it finds one , it will be exited with minimal loss.

Warning
For the use of educational purposes only
Release Notes: I have added partial exit options. Original version used to exit partial when VWAP cross down upper BB band. Now you can chose one of the below 3 options ...

VWAP_crossunder_upperBB --- This is same as original version

VWAP_crossover_FibR3 --- partial exit , when VWAP crosses above weekly Fib R3

VWAP_crossunder'_FibR3 --- partial exit , when VWAP crosses down weekly Fib R3


choosing second options are producing more net profit --- That is due to we are waiting to capture more profits :-)

Happy Trading

Please let me know your comments or feedback ...

Note : VWAP and Fib pivot points on the chart are not plotted by the script. If you want to see how the strategy is taking partial profits , please add VWAP (session) and Pivot Points Standard (select Fibonacci option) with weekly resolution
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?

Comments

Please not Script only draws the Bollinger Band of VWAP to the bottom panel.

VWMA and Pivot Points have added manually for illustration purpose ...

You dont need to have these on the chart as the script already calculates the pivot points behind the scenes. ( also I dont know hot to plot the lines to upper chart and below panel at same time )
Reply
mohanee ediks123
* please note
+2 Reply
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