Only difference in this one is that a EMA is used which should give quicker signals but theres a chance for more false signals as per usual use TA and other indicators to confirm positions. So far I've been liking the Vortex Indicator

When the VWAP (Thick Yellow) AND the two EMA (Orange and thin Yellow) cross above the MVWAP (Purple) then you will be in a uptrend that could possibly continue upwards. The opposite is true if you are looking a short opportunity, wait for the three other lines to cross under the MVWAP and you should be in a downtrend that could possibly continue downwards

Of course as with all indicators not every signal will be 100% accurate there is no way to predict human emotions when it comes to trading but based on the VWAP strategy used in other markets this is the closest I could get.

Note: Don't relay completely on this indicator to think for you. Use other forms of TA to confirm all positions before entering. And if the candles start trending the opposite direction after a lets say a mini pump/dump then the signal was false.

Finally this was made according to the 15 minute chart. I did not plan on remaking it for any other timeframes as I have left the code open for you to tweak and the setting are free to adjust aswell.


Q: Does it repaint?
A: No, this is based on moving averages as far as I know they don't repaint.

Q: How did you come up with this indicator?
A: Went on youtube looking for trading strategies other and the usual EMA crosses and found a VWAP & EMA strat. I added the MVWAP and played with the numbers until I found something that I liked.

Q: How long have you been trading/learning pinescript?
A: Been trading less than a two months and pinescript about a month and a half.
Mã nguồn mở

Với tinh thần của TradingView, tác giả đã xuất bản tập lệnh theo mã nguồn mở, vì thế trader có thể dễ dàng hiểu và tùy chỉnh được. Bạn có thể sử dụng miễn phí, hoặc tùy chỉnh lại mã đã được cấp phép bởi Quy tắc Chung. Bạn có thể sử dụng nó trên biểu đồ.

Bạn muốn sử dụng tập lệnh này trên biểu đồ?

Bình luận

What value of Ema do you use?
+37 Phản hồi
PetrNad covandenham
@covandenham, 7 and 25, check code (defval parametr):
emaLength1= input(title="EMA 1 Length", type=integer, defval=7)
emaLength2= input(title="EMA 2 Length", type=integer, defval=25)
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Back tested it. Works like a charm. Thank you @derricklaflame
+11 Phản hồi
Crypto225 vikasbs123
@vikasbs123, tried this with BTC/ETH?
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RajeshV vikasbs123
Hi Vikas, thank you for the feedback. What instruments have you backtested with?
+4 Phản hồi
vikasbs123 RajeshV
@RajeshV, used it on index futures. Nifty index futures to be precise.
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RajeshV vikasbs123
Thank you for the reply. I used it on a few stock charts also. It's working on them as well seamlessly. Let's see how it unfolds in real market conditions.
Thanks Bro!
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RajeshV vikasbs123

One more query if you could please answer, have you retained the 15M timeframe or experimented with Larger Time Frames also?
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vikasbs123 RajeshV
@RajeshV, I am happy to help. As a matter of fact, I use it on two time frames. For my day trading / scalping I use this on 3 min, then 15 min is used for conformation. I don't like to go against the larger trend for the day in case of scalps.

It works on both. Obviously you get more signals on 3 min, not all of them will be accurate. I use this only for my entry, indicators tend to be slow for exits. My exits are mostly based on levels or price targets.
+2 Phản hồi
RajeshV vikasbs123

Thank you, Vikas! This is a fantastic reply. It's because of Pro people like you that we newbies are encouraged to take forward the journey.

My regards bro!
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