RSI-VWAP

RSI-VWAP - free crypto trading bot. TradingView Scripts.

Top FREE crypto trading bot for Tradingview!

To make our community more profitable we decided to start a series in which we will review open-source TradingView strategies. The aim of the review is to select a strategy (or a number of strategies) from TradingView and run a reality check on it, optimise them and convert into alerts, so you can set it up as a bot on Wunderbit Trading platform.

Note

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What we will provide

Open-strategy source
Strategy adjustment for particular exchange, pair and timeframe
Backtest

Description

This week we found a nice strategy for a 15 min time frame. The original idea was taken from: XaviZ l. Originally. This is a simple strategy that is using the RSI indicator with VWAP as a source instead of the closing price. You will find the original strategy code here: RSI-VWAP

IMPORTANT

This is a trend strategy and works better in the trending market
We added the trend identifier using the EMA and SMA interaction
We Added Take profit and Stop Loss levels
We added inputs for the period selection, so you could see how the strategy is performing on a monthly basis.

Settings

Applicable to FTX: ETH-PERP 15 min

Revised strategy script code

You can copy this code and paste it into your TradingView

// © Wunderbit Trading

//@version=4
strategy("RSI-VWAP INDICATOR", overlay=false, initial_capital = 1000, currency = "USD", pyramiding = 3, commission_type=strategy.commission.percent, commission_value=0.07, default_qty_type = strategy.percent_of_equity, default_qty_value = 100)

/// TREND
ribbon_period = input(14, "Period", step=1)

leadLine1 = ema(close, ribbon_period)
leadLine2 = sma(close, ribbon_period)

p1 = plot(leadLine1, color= #53b987, title="EMA", transp = 50, linewidth = 1)
p2 = plot(leadLine2, color= #eb4d5c, title="SMA", transp = 50, linewidth = 1)
fill(p1, p2, transp = 60, color = leadLine1 > leadLine2 ? #53b987 : #eb4d5c)

// Initial inputs
Act_RSI_VWAP_long = input(true, "RSI VOLUME WEIGHTED AVERAGE PRICE LONG")
RSI_VWAP_length_long = input(15, "RSI-VWAP LENGTH LONG")
RSI_VWAP_overSold_long = input(15, "RSI-VWAP OVERSOLD LONG", type=input.float)
RSI_VWAP_overBought_long = input(72, "RSI-VWAP OVERBOUGHT LONG", type=input.float)

Act_RSI_VWAP_short = input(true, "RSI VOLUME WEIGHTED AVERAGE PRICE SHORT")
RSI_VWAP_length_short = input(14, "RSI-VWAP LENGTH SHORT")
RSI_VWAP_overSold_short = input(8, "RSI-VWAP OVERSOLD SHORT", type=input.float)
RSI_VWAP_overBought_short = input(72, "RSI-VWAP OVERBOUGHT SHORT", type=input.float)

// RSI with VWAP as source
RSI_VWAP_long = rsi(vwap(close), RSI_VWAP_length_long)
RSI_VWAP_short = rsi(vwap(close), RSI_VWAP_length_short)

// Plot Them Separately.
//Plotting LONG, Put overlay=false
r_long=plot(RSI_VWAP_long, color = RSI_VWAP_long > RSI_VWAP_overBought_long ? color.red : RSI_VWAP_long < RSI_VWAP_overSold_long ? color.lime : color.blue, title="rsi", linewidth=2, style=plot.style_line)
h1_long=plot(RSI_VWAP_overBought_long, color = color.gray, style=plot.style_stepline)
h2_long=plot(RSI_VWAP_overSold_long, color = color.gray, style=plot.style_stepline)
fill(r_long,h1_long, color = RSI_VWAP_long > RSI_VWAP_overBought_long ? color.red : na, transp = 60)
fill(r_long,h2_long, color = RSI_VWAP_long < RSI_VWAP_overSold_long ? color.lime : na, transp = 60)

// Plotting SHORT, Put overlay=false
r_short=plot(RSI_VWAP_short, color = RSI_VWAP_short > RSI_VWAP_overBought_short ? color.red : RSI_VWAP_short < RSI_VWAP_overSold_short ? color.lime : color.blue, title="rsi", linewidth=2, style=plot.style_line)
h1_short=plot(RSI_VWAP_overBought_short, color = color.gray, style=plot.style_stepline)
h2_short=plot(RSI_VWAP_overSold_short, color = color.gray, style=plot.style_stepline)
fill(r_short,h1_short, color = RSI_VWAP_short > RSI_VWAP_overBought_short ? color.red : na, transp = 60)
fill(r_short,h2_short, color = RSI_VWAP_short < RSI_VWAP_overSold_short ? color.lime : na, transp = 60)


///////  STRATEGY Take Profit / Stop Loss ////////
////// LONG //////
long_tp_inp = input(100, title='Long Take Profit %', step=0.1)/100
long_sl_inp = input(3.3, title='Long Stop Loss %', step=0.1)/100
long_trailing = input(100, title='Trailing Stop Long', step=0.1) / 100

long_take_level = strategy.position_avg_price * (1 + long_tp_inp)
long_stop_level = strategy.position_avg_price * (1 - long_sl_inp)

////// SHORT //////
short_tp_inp = input(100, title='Short Take Profit %', step=0.1)/100
short_sl_inp = input(4, title='Short Stop Loss %', step=0.1)/100
short_trailing = input(100, title='Trailing Stop short', step=0.1) / 100

short_take_level = strategy.position_avg_price * (1 - short_tp_inp)
short_stop_level = strategy.position_avg_price * (1 + short_sl_inp)

///Strategy_Conditions
/// LONG ///
entry_long =crossover(RSI_VWAP_long, RSI_VWAP_overSold_long) and leadLine2<leadLine1
entry_price_long=valuewhen(entry_long,close,0)
exit_long =crossunder(RSI_VWAP_long, RSI_VWAP_overBought_long)

/// SHORT ///

entry_short =crossunder(RSI_VWAP_short, RSI_VWAP_overBought_short) and leadLine2>leadLine1
entry_price_short=valuewhen(entry_short,close,0)
exit_short =crossover(RSI_VWAP_short, RSI_VWAP_overSold_short)

////// BACKTEST PERIOD ///////
testStartYear = input(2019, "Backtest Start Year")
testStartMonth = input(1, "Backtest Start Month")
testStartDay = input(1, "Backtest Start Day")
testPeriodStart = timestamp(testStartYear,testStartMonth,testStartDay,0,0)

testStopYear = input(9999, "Backtest Stop Year")
testStopMonth = input(12, "Backtest Stop Month")
testStopDay = input(31, "Backtest Stop Day")
testPeriodStop = timestamp(testStopYear,testStopMonth,testStopDay,0,0)

testPeriod() =>
    time >= testPeriodStart and time <= testPeriodStop ? true : false

if testPeriod()
    if strategy.position_size == 0 or strategy.position_size > 0
        strategy.entry("long", true, when = entry_long, comment="*** INSERT OPEN LONG COMMENT FROM WBT ***")
        strategy.exit("long", stop=long_stop_level, limit=long_take_level, trail_points=entry_price_long * long_trailing / syminfo.mintick, trail_offset=entry_price_long * long_trailing / syminfo.mintick, comment="*** INSERT CLOSE LONG COMMENT FROM WBT ***")
        strategy.close("long", when=exit_long, comment = "*** INSERT CLOSE LONG COMMENT FROM WBT ***")

    if strategy.position_size == 0 or strategy.position_size < 0
        strategy.entry("short", false, when = entry_short, comment="*** INSERT OPEN SHORT COMMENT FROM WBT ***")
        strategy.exit("TP/SL/TRS_short","short", stop=short_stop_level, limit=short_take_level, trail_points=entry_price_short * short_trailing / syminfo.mintick, trail_offset=entry_price_short * short_trailing / syminfo.mintick, comment = "*** INSERT CLOSE SHORT COMMENT FROM WBT ***")
        strategy.close("short", when=exit_short, comment = "*** INSERT CLOSE SHORT COMMENT FROM WBT ***")

Follow this guide to automate your TradingView STRATEGY alerts. (no need for study script).

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Last updated 3 years ago

// © Wunderbit Trading //@version=4 strategy("RSI-VWAP INDICATOR", overlay=false, initial_capital = 1000, currency = "USD", pyramiding = 3, commission_type=strategy.commission.percent, commission_value=0.07, default_qty_type = strategy.percent_of_equity, default_qty_value = 100) /// TREND ribbon_period = input(14, "Period", step=1) leadLine1 = ema(close, ribbon_period) leadLine2 = sma(close, ribbon_period) p1 = plot(leadLine1, color= #53b987, title="EMA", transp = 50, linewidth = 1) p2 = plot(leadLine2, color= #eb4d5c, title="SMA", transp = 50, linewidth = 1) fill(p1, p2, transp = 60, color = leadLine1 > leadLine2 ? #53b987 : #eb4d5c) // Initial inputs Act_RSI_VWAP_long = input(true, "RSI VOLUME WEIGHTED AVERAGE PRICE LONG") RSI_VWAP_length_long = input(15, "RSI-VWAP LENGTH LONG") RSI_VWAP_overSold_long = input(15, "RSI-VWAP OVERSOLD LONG", type=input.float) RSI_VWAP_overBought_long = input(72, "RSI-VWAP OVERBOUGHT LONG", type=input.float) Act_RSI_VWAP_short = input(true, "RSI VOLUME WEIGHTED AVERAGE PRICE SHORT") RSI_VWAP_length_short = input(14, "RSI-VWAP LENGTH SHORT") RSI_VWAP_overSold_short = input(8, "RSI-VWAP OVERSOLD SHORT", type=input.float) RSI_VWAP_overBought_short = input(72, "RSI-VWAP OVERBOUGHT SHORT", type=input.float) // RSI with VWAP as source RSI_VWAP_long = rsi(vwap(close), RSI_VWAP_length_long) RSI_VWAP_short = rsi(vwap(close), RSI_VWAP_length_short) // Plot Them Separately. //Plotting LONG, Put overlay=false r_long=plot(RSI_VWAP_long, color = RSI_VWAP_long > RSI_VWAP_overBought_long ? color.red : RSI_VWAP_long < RSI_VWAP_overSold_long ? color.lime : color.blue, title="rsi", linewidth=2, style=plot.style_line) h1_long=plot(RSI_VWAP_overBought_long, color = color.gray, style=plot.style_stepline) h2_long=plot(RSI_VWAP_overSold_long, color = color.gray, style=plot.style_stepline) fill(r_long,h1_long, color = RSI_VWAP_long > RSI_VWAP_overBought_long ? color.red : na, transp = 60) fill(r_long,h2_long, color = RSI_VWAP_long < RSI_VWAP_overSold_long ? color.lime : na, transp = 60) // Plotting SHORT, Put overlay=false r_short=plot(RSI_VWAP_short, color = RSI_VWAP_short > RSI_VWAP_overBought_short ? color.red : RSI_VWAP_short < RSI_VWAP_overSold_short ? color.lime : color.blue, title="rsi", linewidth=2, style=plot.style_line) h1_short=plot(RSI_VWAP_overBought_short, color = color.gray, style=plot.style_stepline) h2_short=plot(RSI_VWAP_overSold_short, color = color.gray, style=plot.style_stepline) fill(r_short,h1_short, color = RSI_VWAP_short > RSI_VWAP_overBought_short ? color.red : na, transp = 60) fill(r_short,h2_short, color = RSI_VWAP_short < RSI_VWAP_overSold_short ? color.lime : na, transp = 60) /////// STRATEGY Take Profit / Stop Loss //////// ////// LONG ////// long_tp_inp = input(100, title='Long Take Profit %', step=0.1)/100 long_sl_inp = input(3.3, title='Long Stop Loss %', step=0.1)/100 long_trailing = input(100, title='Trailing Stop Long', step=0.1) / 100 long_take_level = strategy.position_avg_price * (1 + long_tp_inp) long_stop_level = strategy.position_avg_price * (1 - long_sl_inp) ////// SHORT ////// short_tp_inp = input(100, title='Short Take Profit %', step=0.1)/100 short_sl_inp = input(4, title='Short Stop Loss %', step=0.1)/100 short_trailing = input(100, title='Trailing Stop short', step=0.1) / 100 short_take_level = strategy.position_avg_price * (1 - short_tp_inp) short_stop_level = strategy.position_avg_price * (1 + short_sl_inp) ///Strategy_Conditions /// LONG /// entry_long =crossover(RSI_VWAP_long, RSI_VWAP_overSold_long) and leadLine2<leadLine1 entry_price_long=valuewhen(entry_long,close,0) exit_long =crossunder(RSI_VWAP_long, RSI_VWAP_overBought_long) /// SHORT /// entry_short =crossunder(RSI_VWAP_short, RSI_VWAP_overBought_short) and leadLine2>leadLine1 entry_price_short=valuewhen(entry_short,close,0) exit_short =crossover(RSI_VWAP_short, RSI_VWAP_overSold_short) ////// BACKTEST PERIOD /////// testStartYear = input(2019, "Backtest Start Year") testStartMonth = input(1, "Backtest Start Month") testStartDay = input(1, "Backtest Start Day") testPeriodStart = timestamp(testStartYear,testStartMonth,testStartDay,0,0) testStopYear = input(9999, "Backtest Stop Year") testStopMonth = input(12, "Backtest Stop Month") testStopDay = input(31, "Backtest Stop Day") testPeriodStop = timestamp(testStopYear,testStopMonth,testStopDay,0,0) testPeriod() => time >= testPeriodStart and time <= testPeriodStop ? true : false if testPeriod() if strategy.position_size == 0 or strategy.position_size > 0 strategy.entry("long", true, when = entry_long, comment="*** INSERT OPEN LONG COMMENT FROM WBT ***") strategy.exit("long", stop=long_stop_level, limit=long_take_level, trail_points=entry_price_long * long_trailing / syminfo.mintick, trail_offset=entry_price_long * long_trailing / syminfo.mintick, comment="*** INSERT CLOSE LONG COMMENT FROM WBT ***") strategy.close("long", when=exit_long, comment = "*** INSERT CLOSE LONG COMMENT FROM WBT ***") if strategy.position_size == 0 or strategy.position_size < 0 strategy.entry("short", false, when = entry_short, comment="*** INSERT OPEN SHORT COMMENT FROM WBT ***") strategy.exit("TP/SL/TRS_short","short", stop=short_stop_level, limit=short_take_level, trail_points=entry_price_short * short_trailing / syminfo.mintick, trail_offset=entry_price_short * short_trailing / syminfo.mintick, comment = "*** INSERT CLOSE SHORT COMMENT FROM WBT ***") strategy.close("short", when=exit_short, comment = "*** INSERT CLOSE SHORT COMMENT FROM WBT ***")