Bull & Wolf Nifty Indicator — Strategy by Bull-and-Wolf
By Bull-and-Wolf
Performance Metrics
- Author: Bull-and-Wolf
Description
VWAP 3rd SD Band Mean ReversionThis Pine Script v6 strategy identifies intraday mean reversion opportunities using session VWAP and volume-weighted standard deviation bands. It looks for entries near the outer third SD bands, with the expectation that price may return toward VWAP.Resting limit orders update as the bands move. A configurable proximity tolerance brings entry levels closer to VWAP.- **BUY:** Opens a long position near the lower third SD band.- **SELL:** Opens a short position near the upper third SD band.- **VWAP TARGET:** Exits near the moving VWAP, adjusted by the proximity tolerance.- **STOP LOSS:** Exits at a fixed protective stop, based on a configurable SD distance.- **SESSION EXIT:** Closes any remaining position at the selected session cutoff.Position sizing uses the selected equity risk percentage, stop distance, symbol point value, and quantity increment. A configurable cooldown prevents new entries after a stop loss. Multiple trades per session are allowed, with one position open at a time.The chart displays VWAP, three SD bands, active stop and target levels, and entry and exit labels with fill prices. Order-fill alerts provide notifications for entries and exits.Designed for time-based intraday charts with volume data. Historical and live results can differ because live levels update on each tick, while historical calculations update each bar.