Instead of entering LONG when price crosses above , I have used (14) of . that way it skips the false signals. (some extent)
1. setting is 33
2. When RSIofVwma is above 30 enter Long ( and also checks if price already broke the ATR Stop above line )
Stop Loss and Exits
1. Exit is when price breaks the ATR stop loss
2. ATR setting is set as same Length and multiplier is 3.5
3. STOP Loss that I mentioned in the settings is being used to calculate the how many units can be purchased based on risk of capital value.
Note: There is NO hard stop loss. having above ATR stop loss works as Trailing stop loss
For the educational purposes only
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.