ediks123

VWMA_withATRstops_strategy

This strategy follows the trend when price is above VWMA indicator. I have modified entry and exit rules to get most out of it.

Instead of entering LONG when price crosses above VWMA , I have used RSI (14) of VWMA . that way it skips the false signals. (some extent)

ENTRY
========
1. VWMA setting is 33
2. When RSIofVwma is above 30 enter Long ( and also checks if price already broke the ATR Stop above line )

Stop Loss and Exits
==================
1. Exit is when price breaks the ATR stop loss
2. ATR setting is set as same VWMA Length and multiplier is 3.5
3. STOP Loss that I mentioned in the settings is being used to calculate the how many units can be purchased based on risk of capital value.

Note: There is NO hard stop loss. having above ATR stop loss works as Trailing stop loss


Warning
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For the educational purposes only
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Comments

Here is the snapshot , how RSIofVWMA skips the false signals

+1 Reply
great script! whether order size qty1 can be auto assigned by program e.g. atr like scheme?
Reply
mohanee blackcat1402
@blackcat1402,

Qrty1 is how many shares you can buy based on your risk of capital divided by stop loss value.

If you want to change it to atr , modify line number 45.

Let's say you want 1.5 x atr as stop loss ... then you need to modify divided by at line 45 ... Which would look like below ...

... / ( Close - ( 1.5 * atrVal ) )

And define atrVal in the beginning of the script

atrVal = atr(close, 14 )

That's it will be automatic based on ATR

Good Luck and have fun
Reply
mohanee mohanee
@mohanee,

Sorry it is just to divide by atr * factor
Reply
@mohanee,

tied but but getting errors

would be wonderful if you could help with that
Reply
ediks123 DariusPoskaitis
@DariusPoskaitis,

can you paste the code here , I will check and reply back to you
Reply
@ediks123, its from your scirpt line 45. Riska capital stop loss value
Reply
ediks123 DariusPoskaitis
@DariusPoskaitis, I don't have any issue here …

You might have modified the code for your requirement .... what does it looks like ? what is the error you are getting ?
Reply
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