To get the CW VAS TradingView indicator, click below.
VAS – value area setup (80% strategy)
– Price is remaining range bound more than not.
– VAS is based on dOPEN and previous day VAL and VAH.
Entry signal:
– When prices opens outside of previous day VAL or VAH but then gets acceptance back in this range.
– Acceptance means two 30 min consecutive candle closes back in this range or
– approach to this range on massive volume increase.
E.g:
dOPEN – 48500
pdVAL – 49000
pdVAH – 51000
Price opens (dOPEN 48500) below previous day value area (pdVAL 49000) but then gets acceptance back in pdVA range (above pdVAL 49000), you would enter long here with SL slightly below dOPEN (48500) and you would be targeting pdVAH (51000).
– You can’t take every setup. It is absolutely crucial to check context of last few days.
– If there is a strong trend, do not try to trade against it.
– If the risk and reward ratio is not good (at least above 1.5) do not take the trade.