This is a trending strategy designed for stock market, especially long trending assets such as TSLA, NIO, AMAZON and so on.
Its made of volatility bands and weekly VWAP, in this case daily and weekly.
This strategy has been adapted to go long only.
Rules for entry For long , we want to enter close of a candle is above vwap weekly, and at the same time the close of a candle cross-under the lower volatility band.
For exit , we want to enter close of a candle is below vwap weekly, and at the same time the close of a candle cross-over the upper volatility band.
This strategy does not have a risk management inside, so use it with caution.
Hey. English is not my first language and I might be out of my depth but perhaps you could elaborate on entry and exit points:
Can I see with this script where candle goes above vwap weekly? Or do I need another script for that? I don't really understand the pink and blue arrows.. Or are they the signals of above and below?
Does the script take in to account the voaltility band or that has to be checked with other indicator?
Thanks!
exlux99
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@alexgilseg, hi there, first of all mate this is a strategy, its only used to calculated the entries and exits. I dont plot any details on chart, except the trade entries and exits. What you see with blue is the long entry, and what you see with pink its the long exit.(this is long only adapted for now ). If you want to plot you will have to modify the scripts to have the options to place the vwap on the chart. Also regarding volatility band it has to be checked with other indicator if you want it to be plotted, and I am only using it directly for calculation
@exlux99, do you know of a way to set an alarm at certain stock when the script triggers a buy signal at a certain timechart?
Also, what does the +11 + 12 +50 stand for by the arrows.. Thanks!
exlux99
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@alexgilseg, for that you need to convert this strategy into an alert version to be able to provide correct alters. Regarding the values near the arrows, those are ammounts of positions bought/sold.
alexgilseg
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@exlux99, Thanks, may I ask what way you monitor stocks with this indicator to be on the ball when the marker appears? Do you have a way to screen for stocks that are likley to have been triggered with the stock screener? In that case could you be so kind to share what filters you use? Thanks! I don't have as much time as I would like to sit by the comp looking through stock charts so trying to make my swing trading as efficient as possible.. Thanks!
exlux99
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@alexgilseg, In general I look manually into top 20 NYSE and Nasdaq stocks
MythicalTrading
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anyway to make this into a non-repainted indicator? like a live one?
exlux99
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@MythicalTrading, why would you believe in the first place that this is a non repainted indicator? if you would look more into it and use the replay function you will realize that once a signals is closed , it wont change back => meaning that there is no repainting issue inside
Can I see with this script where candle goes above vwap weekly? Or do I need another script for that? I don't really understand the pink and blue arrows.. Or are they the signals of above and below?
Does the script take in to account the voaltility band or that has to be checked with other indicator?
Thanks!