OPEN-SOURCE SCRIPT
Volume Weighted Average Range Bands [DW]
This is an experimental study designed to identify the underlying trend bias and volatility of an instrument over any custom interval TradingView supports.
First, reset points are established at points where the opening price of the interval changes.
Next, Volume Weighted Average Price (VWAP) is calculated. It is the cumulative sum of typical price times volume divided by the cumulative volume. The cumulation starts over upon each reset point.
After that, Volume Weighted Average Range (VWAR) is calculated. The formula structure is the same as VWAP, except using range rather than typical price.
Lastly, the bands are calculated by multiplying the VWAR by the specified multiplier (approximate Golden Ratio by default) and by 1 through 5, then adding to and subtracting from the VWAP.
Custom Bar Colors are included.
First, reset points are established at points where the opening price of the interval changes.
Next, Volume Weighted Average Price (VWAP) is calculated. It is the cumulative sum of typical price times volume divided by the cumulative volume. The cumulation starts over upon each reset point.
After that, Volume Weighted Average Range (VWAR) is calculated. The formula structure is the same as VWAP, except using range rather than typical price.
Lastly, the bands are calculated by multiplying the VWAR by the specified multiplier (approximate Golden Ratio by default) and by 1 through 5, then adding to and subtracting from the VWAP.
Custom Bar Colors are included.
Script open-source
Dans le plus pur esprit TradingView, l'auteur de ce script l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par nos Règles. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.
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wallanalytics.com/
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t.me/DonovanWall
wallanalytics.com/
Reach out on Telegram:
t.me/DonovanWall
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Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.