OPEN-SOURCE SCRIPT

VWAP RSI Crossover Strategy

Strategy Concept:
  • Buy Signal: When the price crosses above the VWAP and the RSI crosses above a certain threshold (e.g., 30).
  • Sell Signal: When the price crosses below the VWAP and the RSI crosses below a certain threshold (e.g., 70).

VWAP Calculation:
  • We calculate the VWAP using the ta.vwap(close) function.

RSI Calculation:
  • The rsi variable is the RSI of the closing price with a length of rsiLength (default 14).

Buy Condition:
  • The condition for a buy signal is when the price crosses above the VWAP and the RSI is above the rsiOversold level (default 30).

Sell Condition:
  • The condition for a sell signal is when the price crosses below the VWAP and the RSI is below the rsiOverbought level (default 70).

Alerts:
  • Alerts are created for buy and sell signals based on the conditions defined above. You can enable these alerts in TradingView for real-time notifications.

Strategy Execution:
  • The strategy enters a long position when the buy condition is met and closes the position when the sell condition is met.
Relative Strength Index (RSI)Volume Weighted Average Price (VWAP)

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