RSI-VWAP

RSI-VWAP - free crypto trading bot. TradingView Scripts.

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.

Note

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What we will provide

  • Open-strategy source

  • Strategy adjustment for particular exchange, pair and timeframe

  • Backtest

Video overview of RSI-VWAP - free TradingView bot strategy.

Description

This week we found a nice strategy for a 15 min time frame. The original idea was taken from: XaviZl. Originally. This is a simple strategy that is using the RSI indicator with VWAP as a source instead of the closing price. You will find the original strategy code here: RSI-VWAP

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.

Settings

Applicable to FTX: 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 leadLine2<leadLine1
entry_price_long=valuewhen(entry_long,close,0)
exit_long =crossunder(RSI_VWAP_long, RSI_VWAP_overBought_long)
/// SHORT ///
entry_short =crossunder(RSI_VWAP_short, RSI_VWAP_overBought_short) and leadLine2>leadLine1
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(2020, "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 ***")

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