Price: $29.00
This is a trading strategy based on the VWAP (Volume Weighted Average Price) indicator that aims to identify entry and exit points based on price bands, the slope angle of the VWAP, and the percentage increase or decrease relative to the VWAP.
Description
The strategy involves setting a reference period (monthly, weekly, or daily) which resets the accumulators and calculates the VWAP as a volume-weighted average price.
Price bands above and below the VWAP are then calculated using a user-defined percentage variation.
The strategy enters the market when the slope angle of the VWAP exceeds a user-defined threshold and the closing price is below the upper band (for buying) or above the lower band (for selling).
Once entered, a Stop Loss and Take Profit level are set, calculated as a percentage of the entry price.
After entering the market, the strategy monitors the price and closes the position when it reaches the set Take Profit or Stop Loss level.
In the case of a Stop Loss exit, a pause period is set during which no new trades are made to avoid further losses.
The strategy also allows for the display of price bands, VWAP, and Stop Loss and Take Profit levels on the chart, as well as coloring the background based on the trend of the VWAP or the open position.
