VWAP RSI Crossover Strategy

2 days ago

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.