MTF VWAP + Fibo Incremental deviations

14 oct. 2020

I made a Fibo variant of my first script "VWAPs + devs" :
https://fr.tradingview.com/script/icS5nsDT/

This new indicator give you the possibility to plot multi timeframes VWAP (D, W, M, 3M and 12M ) and Fibo deviations for each one.

VWAP is a powerfull indicator which is used by big players to get informations if the price is "overbought" or "oversold". Deviations give the opportunity to have supports and resistances in those "over"-zones.

I searched for better results and found those defaults values :

• Fib 1 level : 0.618
  
• Fib 2 level : 0.786
  
• Fib 3 level : 1.000
  
• Fib 4 level : 1.618
  
• Fib 5 level : 2.618
  

In the thumbnail, we can see that the 1.618 deviation level made a great support on the last uptrend for BTCUSDT .

You can change each values but low ones as 0.382 and 0.5 don't give really interesting supports/resistances.

I made this script as clear and simple as possible with only one menu in the parameters.

Some examples of what you can do :

BTCUSDT (Binance) H4 / D, W, M, 3M ,12M VWAP without devs


BTCUSDT (Binance) M5 / Daily VWAP + Fibo devs


Hope this will be useful for you !