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.