New York VWAP Momentum Strategy by Danish7421
By Danish7421
Performance Metrics
- Author: Danish7421
- Symbol: MEXC:ETHUSDT.P
- Timeframe: 1 minute
- Win Rate: 72.2%
- Profit Factor: 1.383
Description
New York VWAP Momentum StrategyThis strategy is designed to identify momentum entries during the New York trading session using VWAP as the primary dynamic support/resistance level. It combines trend-following logic with strict risk management controls to help traders manage their daily trade frequency and exposure.Key FeaturesDynamic VWAP Filtering: Trades are only taken in the direction of the momentum when price is respecting the Session VWAP.Customizable Time & Day Filters: Fully configurable session timing and individual day-of-week toggles to ensure you only trade when the market conditions suit your strategy.Intelligent Trade Management: * Max Daily Trades: Limit of two trades per day.Loss-Sequence Logic: The strategy restricts entering a second trade unless the first trade of the day resulted in a loss.Volume Confirmation: Optional volume filter to ensure momentum is supported by market participation.Risk Management: Automatically calculates Take Profit levels based on a customizable Risk-Reward Ratio, with the Stop Loss fixed at the VWAP level.Strategy LogicLong Entries: Triggered when two consecutive green candles close above the VWAP, with volume increasing, and the session time filter is active.Short Entries: Triggered when two consecutive red candles close below the VWAP, with volume increasing, and the session time filter is active.Stop Loss: Placed at the current VWAP value at the time of entry.Take Profit: Determined by the Risk-Reward Ratio setting.How to useAdd the script to your chart.Adjust the "Monitoring Session" time to match your specific asset's liquidity or your local time zone settings.Configure your desired Risk-Reward Ratio in the Settings menu.Toggle specific days of the week on/off according to your preference.Disclaimer:Trading in financial markets involves a high level of risk and may not be suitable for all investors. Past performance is not indicative of future results. This script is for educational and informational purposes only and does not constitute financial, investment, or trading advice. Use this tool at your own risk.