//These signals mostly consist of crossovers between a 13 VWMA and a 62 VWMA. I've found these two moving averages to be quite special in their ability to //recognize a quick trend using volume data. The VWAP is used in the alert system as well, to give some perspective on which direction we are looking to take. We //are also using ATR. We only take trades when the ATR is on the move, meaning we have a chance to catch a volatile move! Finally, we use RSI to help weed out bad //trades. We only take 'longs' with bullish readings from RSI, and we only take 'shorts' with bearish readings from RSI. These alerts are fantastic for catching quick intraday //trades in either direction. I recommend using a small 'take profit' target rather than using an exit indicator. These trades can move 20-30 pips and reverse just as quickly. Good luck!
//How To Use: //When the alert system is added to the chart, you will notice up/down symbols appear at various locations. For bullish alerts, right click an 'Up' symbol and choose 'Add Alert on VWap & ATR..' //There are two condition options. 'Long/short', and right below that 'Buy-Signal/Sell-Signal'. Choose 'long' and 'Buy-Signal'. At options, choose 'Once Per Bar Close'. Design your alert, and you're good to go. //For bearish signals, find a 'down' signal on the chart. Right click and follow the same process, except choosing 'short/Sell-Signal' conditions.
Tips: Use VWAP as a stop-loss. If a candle closes below/above the VWAP in the direction against you.. get out of the trade. The losses will be minimal and few compared to the wins. Use discretion and trade carefully. This works great with crypto. Invent your own exit. If you come up with a clever exit, please share!
I took profit at 20.5 pips, every time.
My stop-loss was the first visual support/resistance on opposite side of moving averages.. So it varied.
Not sure how to feel about it.
Meshidorin
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Why not buy below VWAP instead (institutional value area)?
tradingfunsd789666
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hi what will be period and multiple use for VWAP stoploss ?
balun_cc
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It is not working on my iphone
paithaned
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not working for me
lvbbaehr
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Looks like this strategy is only for taking a short position!
luccianojerz
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tried to add this indicator but it is not working? any suggestions
DonjonCapital
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@luccianojerz, Let me check it out! It's been a while.
JTK000
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@Dope_and_Daytrading, Yeah Had same issue. When added indicator seems not working any. Other than that, it's a great idea.
theagileagent
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@Dope_and_Daytrading, I just tried it now, mid 2021. Still does not seem to appear when applied to my charts. Any suggestions, or fixes on the way? Thanks in advance.
I did about 12 days of backtesting by hand.
I took profit at 20.5 pips, every time.
My stop-loss was the first visual support/resistance on opposite side of moving averages.. So it varied.
Not sure how to feel about it.