OPEN-SOURCE SCRIPT
Updated AVS VWAP EMA Pullback Pro
AVS VWAP EMA Pullback Pro is a trend‑following intraday system that only looks for trades when price, trend, and volatility all align.
How it works (logic)
Uses VWAP + EMAs to define trend: only longs when price is above VWAP and fast EMA > slow EMA, only shorts when price is below VWAP and fast EMA < slow EMA.
Waits for a pullback to VWAP/EMA zone, then a reclaim (for longs) or rejection (for shorts) plus RSI confirmation, so you buy dips / sell rallies instead of chasing.
Filters out chop with ADX/DMI so trades only trigger when trend strength is above a minimum threshold.
Enforces a time session (e.g., 07:00–20:00) so it avoids low‑liquidity hours.
Uses ATR‑based stop and two profit targets: partial take‑profit at TP1 and a runner to TP2, via two strategy.exit orders with different qty_percent.
How to use it (practically)
Apply it as a strategy on an intraday chart (e.g., 15m ETH/BTC) and keep the chart interval intraday so VWAP and session logic behave correctly.
In settings, start with Trading Session = 0700‑2000, Minimum ADX ≈ 18–22, and default pullback/ATR values, then use the Strategy Tester to see trades, profit factor, and drawdown.
If it overtrades or chops, tighten session window and raise ADX minimum; if it undertrades, widen the session or slightly loosen ADX / pullback thresholds.
How it works (logic)
Uses VWAP + EMAs to define trend: only longs when price is above VWAP and fast EMA > slow EMA, only shorts when price is below VWAP and fast EMA < slow EMA.
Waits for a pullback to VWAP/EMA zone, then a reclaim (for longs) or rejection (for shorts) plus RSI confirmation, so you buy dips / sell rallies instead of chasing.
Filters out chop with ADX/DMI so trades only trigger when trend strength is above a minimum threshold.
Enforces a time session (e.g., 07:00–20:00) so it avoids low‑liquidity hours.
Uses ATR‑based stop and two profit targets: partial take‑profit at TP1 and a runner to TP2, via two strategy.exit orders with different qty_percent.
How to use it (practically)
Apply it as a strategy on an intraday chart (e.g., 15m ETH/BTC) and keep the chart interval intraday so VWAP and session logic behave correctly.
In settings, start with Trading Session = 0700‑2000, Minimum ADX ≈ 18–22, and default pullback/ATR values, then use the Strategy Tester to see trades, profit factor, and drawdown.
If it overtrades or chops, tighten session window and raise ADX minimum; if it undertrades, widen the session or slightly loosen ADX / pullback thresholds.
Release Notes
some updates on tables Release Notes
table fixedOpen-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.