# RSI-VWAP ### 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. ![Performance of RSI-VWAP - free TradingView bot strategy.](https://1298640921-files.gitbook.io/~/files/v0/b/gitbook-legacy-files/o/assets%2F-Lxzdw8maMUh98DLsWjS%2F-MB8xOqGoBRvghacTjJE%2F-MB8xTr2gobWi4Y86123%2FRSI-VWAP.png?alt=media\&token=41a27ebd-d1ca-4f63-a673-f49577a1e793) #### Note You need a TradingView Pro subscription to be able to receive Webhook notifications on Wunderbit. Sign up to TradingView now: ### **What we will provide** * Open-strategy source * Strategy adjustment for particular exchange, pair and timeframe * Backtest {% embed url="" %} Video overview of RSI-VWAP - free TradingView bot strategy. {% endembed %} ### Description This week we found a nice strategy for a 15 min time frame. The original idea was taken from: [XaviZ](https://www.tradingview.com/u/XaviZ/)[l](https://www.tradingview.com/u/Koi_Capital/). Originally. This is a simple strategy that is using the RSI indicator with [VWAP](https://www.tradingview.com/scripts/vwap/) as a source instead of the closing price. You will find the original strategy code here: [RSI-VWAP](https://www.tradingview.com/script/ia49d7a0/) {% hint style="info" %} **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. {% endhint %} ### Settings Applicable to [FTX](https://ftx.com/#a=2594970): ETH-PERP 15 min | **Input** | **Value** | | ------------------------- | --------- | | Period | 14 | | RSI-VWAP LENGTH LONG | 15 | | RSI-VWAP OVERSOLD LONG | 15 | | RSI-VWAP OVERBOUGHT LONG | 72 | | RSI-VWAP LENGTH SHORT | 14 | | RSI-VWAP OVERSOLD SHORT | 8 | | RSI-VWAP OVERBOUGHT SHORT | 72 | | Long Take Profit % | NA (100) | | Long Stop Loss% | 3.3 | | Trailing Stop Long | NA (100) | | Short Take Profit % | NA (100) | | Short Stop Loss% | 4 | | Trailing Stop Short | NA (100) | ### 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 leadLine2leadLine1 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. 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