Anchored VWAP (Auto High & Low)OVERVIEW
This script plots, and auto-updates, 3 separate VWAPs: a traditional VWAP, a VWAP anchored to a trends high, and another anchored to a trends low.
VWAP and Anchored VWAPs are commonly used by institutions responsible for the majority of market volume on a given day. Citadel Trading, for example, accounts for approximately 35% of all U.S. listed retail volume , largely executed through program trades over the course of a day, week, or month.
Because VWAP is a prominent market maker tool for executing large trades, day traders can use it to better anticipate trends, mean reversion, and breakouts.
This is most useful on charts with intraday time frames (1 minute, 5 minute etc.) commonly used for day trading. This is not ideal for larger time frames (1 hour or greater) commonly used for swing trading or identifying larger trends.
INPUTS
You can configure:
The size, color, and visibility of 6 different plots (VWAP, High Anchor, Low Anchor, Average of Anchors, Quarter Values, Interim Bands)
How smooth the average displays
INSPIRATION
1. "How To Measure Anything" by Douglas W. Hubbard
2. "Maximum Trading Gains With Anchored VWAP" by Brian Shannon
Better understanding probability and how to analyze risk (first book), as well as the tools market makers use (second book), has completely reframed how I approach day trading.
Prix Moyen Pondéré par le Volume (PMPV)
VWAP Reset Zones
With this indicator, the VWAP is displayed based on two adjustable sources. Close and Open are recommended by default.
The zone between the Open and Close VWAP is carried over to the next day as the zone at the end of the period.
The zones can be considered as support and resistance zones.
The chart illustrates the idea behind it.
In addition, the anchor function has been added so that anchor points can be set for session, week and month.
Depending on the set anchor and the selected time unit of the chart, an adjustment of the indicator to the time unit can be made.
Recommended time unit of the indicator: Session = 15 min / Weekly = 1H / Month = 4H
In addition, the zones between VWAP close and vwap open have been colored.
Bullish when the close is above the open price and bearish when the close is below the open price.
The principle is simple. If the average closing price is below the average opening price, a downtrend is to be assumed and vice versa an uptrend.
Volatility Weighted Moving Average + Session Average linesHi Traders !
Just finished my Y2 university finals exams, and thought I would cook up a quick and hopefully useful script.
VWAP + Session Average Lines :
Volatility Weighted Average Price in the standard case is a trading indicator that measures the average trading price for the user defined period, usually a standard session (D timeframe), & is used by traders as a trend confirmation tool.
This VWAP script allows for altering of the session to higher dimensions (D, W, M) or those of lower dimension (H4, or even H1 timeframes), furthermore this script allows the lookback of data to be switched from the standard session to a user defined amount of bars (e.g. the VWAP of 200 bars as opposed to the VWAP of a standard session which contains 95 bars in M15 timeframe for 24/7 traded assets e.g. BTCUSD), lastly this script plots Session VWAP Average Lines (if true in settings) so tradaes can gauge the area of highest liquidity within a session, this can be interpreted as the fair price within a session. If Average lines are increasing and decreasing consistently like a monotonic function this singles traders interest is at higher / lower prices respectively (Bullish / Bearish bias respectively ?), However if Average lines are centered around the same zones without any major fluctuations this signals a ranging market.
VWAP calculation :
VWAP is derived from the ratio of the assets value to total volume of transactions where value is the product of typical price (Average of high, low and close bars / candles) and corresponding bar volume, value can be thought of as the dollar value traded per bar.
How is VWAP used by Institutions / Market movers :
For some context and general information, VWAP is typically used by Market movers (e.g. Hedge funds, Mutual funds ,..., ...) in their trade execution, as trading at the VWAP equals the area of highest market volume, trading in line with the volume of the market reduces transaction costs by minimizing market impact (extra liquidity lowers spreads and lag time between order fills), this overall improves market efficiency.
In my opinion the script is best used with its standard settings on the M15 timeframe, note as of now the script is not functional on certain timeframes, however this script is not intended to be used in these timeframes, i will try fix this code bug as soon as possible.
CUSTOM VWAP EMAThe Custom VWAP EMA (Volume-Weighted Average Price Exponential Moving Average) indicator is a powerful tool developed by Vedic Trading to provide traders with valuable insights into market trends and potential reversals. This indicator combines two key elements: the VWAP and the 37 EMA, along with a color-changing feature, to enhance trading decisions.
The VWAP is a popular technical analysis tool used to calculate the average price at which a security has traded throughout the day, taking into account both price and volume. It provides a weighted average based on the volume traded at different price levels, giving more importance to higher volume areas. The VWAP helps traders identify areas of support and resistance and provides a reference point for assessing the fair value of an asset.
The 37 EMA is an exponential moving average calculated by placing more weight on recent price data points. It helps smooth out price fluctuations and provides a visual representation of the overall trend. The 37 EMA is commonly used to identify the direction of the market and potential entry and exit points.
The Custom VWAP EMA indicator combines the VWAP and the 37 EMA to provide traders with a comprehensive view of market dynamics. It calculates the VWAP for different time intervals, such as 15 minutes, daily, and weekly, allowing traders to assess the intraday, daily, and longer-term trends.
One unique feature of this custom indicator is the color-changing capability. The indicator's color changes based on the relationship between the VWAP and the 37 EMA. For example, if the VWAP is above the 37 EMA, the indicator may turn green, indicating a potential bullish trend. Conversely, if the VWAP falls below the 37 EMA, the indicator may change to red, suggesting a potential bearish trend. This color-coded visual cue helps traders quickly identify market conditions and potential trade opportunities.
The Custom VWAP EMA indicator developed by Vedic Trading provides traders with a comprehensive analysis of market trends by combining the VWAP and the 37 EMA. Its color-changing feature enhances the visual interpretation, making it easier for traders to spot potential trading opportunities. This indicator can be a valuable tool for traders seeking to make informed decisions based on the interplay between volume, price, and trend dynamics.
Moving Averages + BB & R.VWAP StDev (multi-tf)█ Moving Averages + Bollinger Bands and Rolling Volume Weighted Average Price with Standard Deviation Bands (Multi Timeframe)
Multiple moving averages can be independently applied.
The length , type and timeframe of each moving average are configurable .
The lines and colors are customizable too.
This script can display:
Moving Averages
Bollinger Bands
Rolling VWAP and Standard Deviation Bands
Types of Moving Averages:
Simple Moving Average (SMA)
Exponential Moving Average (EMA)
Smoothed Moving Average (SMMA)
Weighted Moving Average (WMA)
Volume Weighted Moving Average (VWMA)
Least Squares Moving Average (LSMA)
Hull Moving Average (HMA)
Arnaud Legoux Moving Average (ALMA)
█ Moving Average
Moving Averages are price based, lagging (or reactive) indicators that display the average price of a security over a set period of time.
A Moving Average is a good way to gauge momentum as well as to confirm trends, and define areas of support and resistance.
█ Bollinger Bands
Bollinger Bands consist of a band of three lines which are plotted in relation to security prices.
The line in the middle is usually a Simple Moving Average (SMA) set to a period of 20 days (the type of trend line and period can be changed by the trader, a 20 day moving average is by far the most popular).
The SMA then serves as a base for the Upper and Lower Bands which are used as a way to measure volatility by observing the relationship between the Bands and price.
█ Rolling VWAP
The typical VWAP is designed to be used on intraday charts, as it resets at the beginning of the day.
Such VWAPs cannot be used on daily, weekly or monthly charts. Instead, this rolling VWAP uses a time period that automatically adjusts to the chart's timeframe.
You can thus use the rolling VWAP on any chart that includes volume information in its data feed.
Because the rolling VWAP uses a moving window, it does not exhibit the jumpiness of VWAP plots that reset.
Based on the previous script :
VWAP Open Session Anchored by HampehThe VWAP Open Session Anchored indicator differs from traditional VWAP indicators by automatically anchoring the Volume Weighted Average Price calculation to three market session starts Morning, Evening, and Night. Each session represents a distinct time period within the trading day, offering traders and investors a more comprehensive view of the volume-weighted average price within specific sessions.
What Is the Volume-Weighted Average Price (VWAP)?
The volume-weighted average price (VWAP) is a technical analysis indicator used on intraday charts that resets at the start of every new trading session.
VWAP is important because it provides traders with pricing insight into both the trend and value of a security.
KEY TAKEAWAYS
1. The volume-weighted average price (VWAP) is a single line on intraday charts.
2. It looks similar to a moving average line but smoother.
3. VWAP represents a view of price action throughout a single day's trading session.
4. Retail and professional traders may use the VWAP to help them determine intraday price trends.
5. VWAP typically is most useful to short-term traders.
VWAP is calculated by totaling the dollars traded for every transaction (price multiplied by the volume) and then dividing by the total shares traded.
VWAP = Cumulative Typical Price x Volume/Cumulative Volume
Where Typical Price = High price + Low price + Closing Price/3
Cumulative = total since the trading session opened.
How Is VWAP Used?
VWAP is used in different ways by traders. Traders may use VWAP as a trend confirmation tool and build trading rules around it. For instance, they may consider stocks with prices below VWAP as undervalued and those with prices above it, as overvalued. If prices below VWAP move above it, traders may go long on the stock. If prices above VWAP move below it, they may sell their positions or initiate short positions.
Institutional buyers including mutual funds use VWAP to help move into or out of stocks with as small of a market impact as possible. Therefore, when they can, institutions will try to buy below the VWAP or sell above it. This way their actions push the price back toward the average, instead of away from it.
Source: www.investopedia.com
Anchored VWAP Pinch & Handoff, Intervals, and Signals"Anchored VWAP Pinch & Handoff, Intervals, and Signals" is an AVWAP toolbox for those who like to use various VWAP trading techniques. The indicator is currently comprised of the following three sections:
• The Pinch & Handoff section (shown above on chart) allows manually setting an upper and lower AVWAP (Pinch) along with an additional AVWAP (Handoff) by entering dates or by dragging the vertical anchor lines to the desired significant events on chart. Each of these three AVWAPs can also be set to show zones above and/or below by a percentage or standard deviation amount. The theory behind this method is that the upper and lower AVWAPs may act as dynamic support and resistance levels, effectively creating a price range or channel. As price moves between these two VWAP levels, it becomes squeezed or consolidated within that range. Further conjecture is that the longer the price remains within the range of the two anchored VWAP values, the higher the potential for an explosive breakout. Traders using this strategy may interpret the prolonged consolidation as a period of price compression, with the expectation that a significant move in either direction is likely to occur. Traders employing the AVWAP Pinch strategy might look for specific chart patterns or additional confirmation signals to enter a trade. For example, a breakout above the upper anchored VWAP level could trigger a long trade, while a breakdown below the lower anchored VWAP level could signal a short trade. Stop-loss orders and profit targets are typically set based on the trader's risk tolerance and the volatility of the asset. The third AVWAP (Handoff) is typically set after price has broken through the Pinch, and is used as a new level of support or resistance. The "Pinch & Handoff" phrase is believed to have been coined by Brian Shannon, who has popularized this method.
• The Intervals section (shown above on chart) is comprised of six periodic AVWAPs which cyclically reset. Their default settings are 1 Day, 2 Days, 1 Week, 1 Month, 1 Quarter, and 1 Year. They each may be set to desired period and when they are enabled the VWAPs whose periods are lower than the current chart timeframe are automatically hidden. For example a 1 Day AVWAP is not useful on a 1 Week chart so it would be hidden from that timeframe. When using AVWAPs from higher timeframes it may be helpful to set your chart to "Scale price chart only". This can be enabled by right clicking on your chart's price column and then left clicking "Scale price chart only" to enable that option.
• The Auto section (shown above on chart) is comprised of two automatic Anchored VWAPs. There are choices for setting anchors automatically based upon Highest Source, Highest Volume, Lowest Source, Lowest Volume, Pivot High, and Pivot Low. Because these two VWAPs work retroactively they are drawn with lines instead of plots. There is currently a limitation of 500 lines that may be drawn at any given time and the logic within this indicator uses a line for every bar of VWAP that is drawn, so if the combined length of both of these VWAPs exceeds 500 bars the earliest lines would disappear. For typical use of looking for the highest high in the last 50 bars or the last fractal this limitation should not be an issue.
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All of the plots have been titled including hidden plots that are generated for the AVWAP line drawings. All of the various types of AVWAP within the indicator should be available as choices within the Alert creation dialog if use of alerts is desired.
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NOTICE: This is an example script and not meant to be used as an actual strategy. By using this script or any portion thereof, you acknowledge that you have read and understood that this is for research purposes only and I am not responsible for any financial losses you may incur by using this script!
Underlying VWAPFor all who swear by and trade using VWAP, this is a modification of the same.
The current settings are set for NSE:BANKNIFTY , however this can easily be changed for NSE:NIFTY
*** How is this indicator different ? ***
This indicator color codes the VWAP on NSE:BANKNIFTY basis the price movement of top 6 NSE:BANKNIFTY constituents with respect to their respective VWAPs.
It uses the weights of individual underlying stocks to calculate a relative strength of NSE:BANKNIFTY 's price movement w.r.t. its VWAP.
A threshold value of 80% is set as to define if the movement is strong or not.
If the up move is strong, it is plotted as Dark Green color on VWAP.
If the down move is strong, it is plotted as Dark Red color on VWAP.
Otherwise, VWAP is white in color.
*** How to Trade using this Indicator? ***
-Buy when the VWAP is dark green. This indicates that majority of the constituents are trading above VWAP by half ATR. A change from RED or WHITE to DARK GREEN color of VWAP is go ahead to initiate a long position.
-Sell when the VWAP is dark Red. This indicates that majority of the constituents are trading below their VWAP by half ATR. A change from Green or WHITE to DARK RED color of VWAP is go ahead to initiate a Short position.
-When VWAP is white, I would recommend not to initiate any positions, at least on options side as it indicates either a range bound price movement or lack of momentum.
- If one is already in a position, Long or short, do not exit if a white VWAP appears. Having said that, other indicator based exit signals or price action based exit signals can be used to exit the position. But using this indicator only, one should exit when VWAP turns RED.
NSDT Horizontal VWAPThis script plots VWAP as a horizontal line starting at the most recent candle and extending backwards for a period of 10 to make it easier to see. (default is 10 but can be changed to fit your needs)
You may only want to see where VWAP is currently and not need to see the entire day. Helps keep the chart clean.
Colors and line settings can all be modified.
You can show the original VWAP plot as well for reference.
What Is the Volume-Weighted Average Price (VWAP)?
The volume-weighted average price (VWAP) is a technical analysis indicator used on intraday charts that resets at the start of every new trading session.
It's a trading benchmark that represents the average price a security has traded at throughout the day, based on both volume and price.
VWAP is important because it provides traders with pricing insight into both the trend and value of a security.
Standard Deviation Buy Sell Signals [UOI]The "Standard Deviation Buy Sell Signals" which is a Mean and VWAP Deviation Super Pack that includes many additional features is an advanced technical analysis tool designed to assist traders in making well-informed decisions in the financial markets. It incorporates various functions and calculations to provide a comprehensive analysis of price movements, trends, and potential trading opportunities in different timeframes. The Super Pack combines elements of volume-weighted average price (VWAP), mean calculation on multiple time frames, standard deviation signals and bands, overbought and oversold signals, measures of central tendency, and multiple time frame calculations of mean reversion. A truly unique indicator.
Here is the details of the supper pack and what is included:
1. VWAP (Volume-Weighted Average Price): The Mean and VWAP Deviation Super Pack includes VWAP, which calculates the average price of a security weighted by its trading volume. This helps traders identify the average price at which a significant amount of trading activity has occurred and can serve as a reference point for determining whether the current price is overvalued or undervalued.
2. Standard Deviation Signals and Bands: The Super Pack incorporates standard deviation signals and bands to measure the volatility of price movements. By calculating the standard deviation of price data, it identifies price levels that deviate significantly from the average, indicating potential overbought or oversold conditions. The standard deviation bands provide visual boundaries that help traders assess the likelihood of a price reversal or continuation. The bands are hidden to avoid too many lines but you can enable them in the setting. See image below:
3. Overbought and Oversold Signals: Using the standard deviation calculations, the Mean and VWAP Deviation Super Pack generates overbought and oversold signals. These signals indicate when a security's price has moved to an extreme level, suggesting a potential reversal or correction in the near future. Traders can use these signals to time their entries or exits in the market. You can change the RSI number in the setting to get more or less signals.
4. Measures of Central Tendency: The Super Pack incorporates measures of central tendency, such as the mean, median, or mode, to provide a sense of the average or typical price behavior. These measures help traders identify the prevailing trend or price direction and assess the likelihood of a trend continuation or reversal. This provide reassurance of whether price is too far from center in multiple time frames.
5. Multiple Time Frame Calculation of Mean Reversion: The Mean and VWAP Deviation Super Pack employs multiple time frame calculations to identify mean reversion opportunities. It compares the current price with the historical average price over different time periods, allowing traders to identify situations where the price has deviated significantly from its mean and is likely to revert back to its average value. This can be useful for swing trading or short-term trading strategies.
By combining these various functions, the Mean and VWAP Deviation Super Pack provides traders with a comprehensive analysis of price dynamics, trend strength, potential reversals, and mean reversion opportunities. It aids in making more informed trading decisions and improving overall trading performance.
Why is this super pack indicator an essential trading strategy for every trader:
Standard deviation and mean reversion are valuable tools for traders, especially when the market is in a ranging phase. A ranging market is characterized by price movements that oscillate between defined support and resistance levels, with no clear trend in either direction. In such market conditions, standard deviation and mean reversion strategies can be particularly effective. Here's why:
1. Standard Deviation: Standard deviation is a statistical measure that quantifies the volatility or dispersion of price data around its average. In a ranging market, where prices tend to fluctuate within a certain range, standard deviation can help identify overbought and oversold levels. When the price reaches the upper end of the range, the standard deviation bands widen, indicating higher volatility and a potential selling opportunity. Conversely, when the price reaches the lower end of the range, the bands narrow, suggesting lower volatility and a potential buying opportunity. Traders can use these signals to anticipate price reversals and take advantage of the predictable nature of ranging markets.
2. Mean Reversion: Mean reversion is a concept that suggests prices tend to move back toward their average or mean over time. In a ranging market, where prices repeatedly move between support and resistance levels, mean reversion strategies can be highly effective. By identifying when the price has deviated significantly from its mean, traders can anticipate a potential reversal back toward the average. When the price reaches extreme levels, indicating overbought or oversold conditions, traders can enter positions in the opposite direction, expecting the price to revert to its mean. Mean reversion strategies can be implemented using various indicators, including Bollinger Bands, moving averages, or standard deviation bands.
3. Range Boundaries: In a ranging market, the upper and lower boundaries of the price range serve as reliable reference points for traders. Standard deviation and mean reversion strategies capitalize on the repetitive nature of price movements within these boundaries. Traders can set their entry and exit points based on the standard deviation bands or mean reversion signals to take advantage of price reversals near the range boundaries. By properly identifying and reacting to these levels, traders can profit from the price oscillations within the range.
4. Risk Management: Standard deviation and mean reversion strategies provide traders with clear entry and exit points, allowing for effective risk management. By placing stop-loss orders beyond the range boundaries or the standard deviation bands, traders can limit their potential losses if the price continues to move against their positions. Additionally, by taking profits near the opposite range boundary or when the price reverts back to the mean, traders can secure their gains and maintain a disciplined approach to trading.
Standard deviation and mean reversion strategies offer traders a systematic approach to capitalize on ranging markets. But the cherry on top is the overbought and oversold signals:
The concept of overbought and oversold levels is widely used in technical analysis to identify potential reversals in price trends. Typically, indicators like the Relative Strength Index (RSI) are employed to determine when an asset may be overbought or oversold. However, you have developed a unique approach by incorporating an interactive variable with RSI and Average True Range (ATR) to create a distinct overbought and oversold signal. Here's why this approach stands out:
1. Divergence: Your approach introduces a divergence concept by combining RSI and ATR. Traditionally, overbought and oversold signals rely solely on RSI readings. However, by considering the interaction between RSI and ATR, you bring a new dimension to these signals. The divergence occurs when the RSI indicates overbought conditions while simultaneously ATR crosses over into bearish territory, or when the RSI signals oversold conditions along with ATR crossing over into bullish territory. This divergence adds an extra layer of confirmation to the overbought and oversold signals.
2. Reduced False Signals: The incorporation of ATR in conjunction with RSI helps filter out false signals that may occur during trending market conditions or short squeezes. Trend days or periods of increased volatility can cause RSI to remain in overbought or oversold territory for an extended period, generating numerous signals that may not be reliable. By considering the crossing of ATR into bearish or bullish territory, your approach adds a dynamic element to the signal generation process. This interactive variable helps ensure that the overbought and oversold signals are not solely based on RSI getting hot, reducing the likelihood of false signals during trending or volatile periods.
3. Improved Timing: The interaction between RSI and ATR provides a more nuanced approach to timing overbought and oversold signals. By waiting for the ATR to confirm the RSI signal, you introduce an additional condition that enhances the precision of the timing. The bearish or bullish crossover of ATR serves as a confirmation that market conditions align with the overbought or oversold signal indicated by RSI. This combined approach allows for more accurate entry or exit points, increasing the potential profitability of trades.
4. Customization and Adaptability: By creating this interactive variable with RSI and ATR, you have developed a customizable approach that can be adapted to different trading styles and preferences. Traders can adjust the sensitivity of the signals by modifying the parameters of the RSI and ATR. This flexibility allows for a personalized trading experience and enables traders to align the signals with their specific risk tolerance and market conditions.
This approach to overbought and oversold signals utilizing RSI and ATR introduces a unique perspective to technical analysis. By incorporating divergence and interactive variables, you enhance the reliability of these signals while reducing false readings. This approach provides improved timing and adaptability, making it a valuable tool for traders seeking to identify potential reversals in price trends with greater accuracy and confidence.
HOW to avoid fake signals?
When it comes to trading with standard deviation as a strategy, it's important to note that on extreme trend days, this indicator may generate false signals. This occurs because standard deviation is primarily designed to measure volatility and deviations from the mean in a range-bound market. During strong trending periods, the price tends to move in one direction with minimal deviations, rendering the standard deviation less effective.
To avoid trading based solely on standard deviation during extreme trend days, it is advisable to incorporate additional indicators that can provide insights into the stock's trend or squeeze conditions. These indicators can help determine whether the market is experiencing a strong trend or a squeeze, allowing you to avoid false signals generated by standard deviation.
By utilizing complementary indicators such as trend-following indicators (e.g., moving averages, trendlines) or volatility indicators (e.g., Bollinger Bands), you can gain a more comprehensive understanding of the market environment. These indicators can help confirm whether the stock is in a trending phase or experiencing a squeeze, helping you avoid entering trades solely based on standard deviation during these extreme trend days.
In summary, while standard deviation is a valuable tool in range-bound markets, it may produce unreliable signals on extreme trend days. By incorporating other indicators that provide insights into the stock's trend or squeeze conditions, traders can better assess the market environment and avoid false signals generated by standard deviation during these periods. This approach enhances the overall effectiveness and accuracy of trading strategies, leading to more informed and profitable decision-making.
All-In-One Auto Anchored VWAPsA chart isn't trendy without a VWAP (which stands for volume weighted average price).
This indicator allows you to choose 3 different anchored VWAPs, and customize the anchor period from one of many different options, including:
- Daily
- Weekly
- Monthly
- Quarterly
- Yearly
- All Time
- Specific Pivots
- Specific Sessions
You can then choose whether you want to anchor to the open, highest or lowest value within that period.
The indicator will automatically update every time a new anchor point is triggered. Every VWAP has colors and standard deviation bands as an optional setting.
As interest in the script grows I will continue to add new features.
5EMA BollingerBand Nifty Stock Scanner
What ?
We all heard about (well: over-heard) 5-EMA strategy. Which falls into the broader category of mean reversal type of trading setup.
What is mean reversal?
Price (or any time series, in fact) tries to follow a mean . Whenever price diverges from the mean it tries to meet it back.
It is empirically observed by some traders (I honestly don't know who first time observed it) that in Indian context specially, 5 Exponential Moving Average (5-EMA) works pretty good as that mean.
So whenever price moves away from that 5-EMA, it ultimately comes back and attain total nirvana :) Means: if price moved way higher than the 5EMA without touching it, then price will correct to meet it's 5-EMA and if price moved way lower, it will be uplifted to meet it's 5-EMA. Funny - but it works !
Now there are already enough social media coverage on this 5-EMA strategy/setup. Even TradingView has some excellent work done on these setups. Kudos to all those great souls.
So when we came to know about this, we were thinking what we should do for the community. Because it is well cover topic (specially in Indian context). Also, there are public indicators.
Then we thought why not come up with a scanner which will scan all the Nifty-50 constituent stocks and find out on the fly, real-time which all stocks are matching this 5-EMA setup and causing a Buy/Sell trade recommendation.
Hence here we are with the first version of our first scanner on the 5EMA setup (well it has some more masala than merely a 5-EMA setup).
Why?
Parts of why is already covered up.
Now instead of blindly following 5-EMA setup, we added the Bollinger band as well. Again: it's also not new. There are enough coverage in social media about the 5-EMA+BB strategy/setup. We mercilessly borrowed from all of these.
Suppose you have an indicator.
Now you apply the indicator in your chart. And then you need to (rock) and roll through your watchlist of Nifty-50 stocks (note: TradingView has no default watchlist of Nifty-50 stock by default - you have to create one custom watchlist to list all manually) to find out which all are matching the setup, need to take a note about the trade recomendations (entry, SL, target) and other stuffs like VWAP, Volume, volatility (Bollinger Band Width).
Not any more.
This scanner will track all the Nifty-50 stocks (technically: 40 stocks other than Banking stocks) and provide which one to Buy or Sell (if any), what's the entry, SL, target, where is the VWAP of the day, what's the picture in volume (high, low, rising, falling) and the implied volatility (using Bolling band width). Also it has a naive alerting mechanism as well.
In fact the code is there to monitor the (Future) OI also and all the OI drama (OI vs price and all the 4 stuffs like long build up, long unwinding, short covering, short buildup). But unfortunately, due to some limitations of the TradingView (that one can not monitor more than 40 `ta.security` call) we have to comment out the code. If you wish you can monitor only 20 stocks and enable the OI monitoring also (20 for stocks + 20 for their OI monitoring .. total 40 `ta.security` call).
How?
To know the divergence from 5-EMA we just check if the high of the candle (on closing) is below the 5-EMA. Then we check if the closing is inside the Bollinger Band (BB). That's a Buy signal. SL: low of the candle, T: middle and higher BB.
Just opposite for selling. 5-EMA low should be above 5-EMA and closing should be inside BB (lesser than BB higher level). That's a Sell signal. SL: high of the candle, T: middle and lower BB.
Along with we compare the current bar's volume with the last-20 bar VWMA (volume weighted moving average) to determine if the volume is high or low.
Present bar's volume is compared with the previous bar's volume to know if it's rising or falling.
VWAP is also determined using `ta.vwap` built-in support of TradingView.
The Bolling Band width is also notified, along with whether it is rising or falling (comparing with previous candle).
Simple, but effective.
Customization
As usual the EMA setup (5 default), the BB setup (20 SMA with 1.5 standard deviation), we provided option wherther to include or exclude BB role in the 5-EMA setup (as we found out there are two schools of thought .. some people use BB some don't. Lets make all happy :))
We also provide options to choose other symbols using Settings if they wish so. We have the default 40 non banking Nifty stocks (why non-banking? - Bank Nifty is in ATH :) .. enough :)). But if user wishes can monitor others too (provided the symbol is there in TradingView).
Although we strongly recommend the timeframe as 30 minutes , you can choose what's fit you most.
The output of the scanner is a table. By default the table is placed in the right-bottom (as we are most comfortable with that). However you can change per your wish. We have the option to choose that.
What is unique in it ?
This is more of an indicator. This is a scanner (of Nifty-50 stocks). So you can apply (our recommendation is in 30m timeframe) it to any chart (does not matter which chart it is) and it will show every 30 mins (which is also configurable) which all stocks (along with trade levels) to Buy and Sell according to the setup.
It will ease your trading activity.
You can concentrate only on the execution, the filtering you can leave it to this one.
Limitations
There is a build in limitation of the TradingView platform is that one can call only upto 40 securities API. Not beyond that. So naturally we are constraint by that. Otherwise we could monitor 190 Nifty F&O stocks itself.
30m is the recommended timeframe. In very lower (say 5m) this script tends to go out of heap (out of memory). Please note that also.
How to trade using this?
Put any chart in 30m (recommended) timeframe.
Apply this screener from Indicators (shortcut to launch indicators is just type / in your keyboard).
This will provide the Buy (shown in green color) or Sell (shown in red color) recommendations in a table, at every 30m candle closing.
Note the volume and BB width as well.
Wait for at least 2 5-minutes candles to close above/below the recommended level .
Take the trade with the SL and target mentioned.
Mentions
@QuantNomad. The whole implementation concept we mercilessly borrowed from him, even some of his code snippet we took it (after asking him through one of his videos comment section and seeking explicit permission which he readily granted within an hour). Thank You sir @QuantNomad. Indebted to you.
Monika (Rawat) ji: for reviewing, correcting, providing real time examples during live market hours, often compromising her own trading activities, about the effectiveness and usefulness of this setup. Thank You madam ji. Indebted to you.
There are innumerable contents in social media about this. Don't even know whom all we checked. Thanks to all of them.
Happy Trading (in stocks - isn't enough of Indices already?)
Disclaimer
This piece of software does not come up with any warrantee or any rights of not changing it over the future course of time.
We are not responsible for any trading/investment decision you are taking out of the outcome of this indicator.
VWAP Xing D, Prv.D, W, Q, M, & Y + SD [UOI]Introducing the "VWAP Xing D, Prv.D, W, Q, M, & Y + SD" Indicator: A Comprehensive, Multi-Timeframe Trading Tool for the Modern Trader
In today's dynamic and fast-paced financial markets, traders require versatile and powerful tools that can help them navigate the complex world of trading. The "VWAP Xing D, Prv.D, W, Q, M, & Y + SD" indicator is designed to be the ultimate, all-in-one solution for traders seeking a comprehensive and robust trading indicator. This cutting-edge tool combines the power of an extensive VWAP library with the versatility of Bollinger Bands, Donchian Channels, standard deviation multi-timeframe analysis, and an auto boxed range identifier, all to provide traders with the crucial insights needed to identify reversals, breakdowns, and breakups.
Offering the magnetic daily, previous day, weekly, monthly, quarterly, and even yearly VWAP levels, this comprehensive library caters to traders with varying time horizons and strategies. Coupled with the precision of Bollinger Bands and Donchian Channels, the indicator allows for accurate tracking of price volatility, enabling traders to make more informed decisions in response to changing market conditions. The integration of multi-timeframe standard deviation analysis further bolsters the indicator's ability to identify potential trading opportunities, ensuring that users can stay ahead of the curve.
Finally, the auto boxed range identifier serves as the cherry on top, automatically detecting critical price levels where reversals, breakdowns, and breakups are most likely to occur. This powerful feature not only helps traders confirm potential entry and exit points but also allows for more effective risk management.
Overall, the "VWAP Xing D, Prv.D, W, Q, M, & Y + SD" indicator is a comprehensive, multi-timeframe trading tool that empowers traders with unparalleled insights, precision, and adaptability. Whether you're a seasoned professional or a novice trader, this powerful indicator is a must-have tool for anyone looking to excel in today's competitive financial markets.
Multi-timeframe Volume Weighted Average
First let's define Volume Weighted Average Price (VWAP):
Volume Weighted Average Price (VWAP) is a widely-used technical analysis indicator that calculates the average price of a security, taking into account both price and trading volume. In essence, it represents the average price at which a security has been traded throughout a specified time period, giving more weight to transactions with higher volume.
The VWAP is often used by traders and investors to assess the market's trend and gauge the relative value of a security. It serves as a benchmark for institutional investors, who often use it to evaluate their trading performance and determine whether they are buying or selling at favorable prices.
The formula for calculating VWAP is:
VWAP = (Sum of (Price * Volume)) / Total Volume
By incorporating volume into the calculation, the VWAP provides a more accurate representation of a security's true average price, as it takes into consideration the impact of larger trades on the price. This makes it a valuable tool for traders seeking to make more informed decisions in the market and avoid getting caught in unfavorable trading positions.
VWAP is a crucial indicator that provides insights into the average price at which a financial asset, such as a stock or cryptocurrency, has been traded throughout a specific period. It takes into consideration the volume of trades executed at each price level during that period. The VWAP lines included in the " VWAP Xing D, Prv. D, W, Q, M, & Y" indicator offer various timeframe perspectives, allowing traders to analyze different levels of market trends and behaviors.
Here's a detailed explanation of the VWAP lines and their significance:
1. Daily VWAP (D): The daily VWAP line represents the average price at which the asset has been traded throughout the current trading day. It resets at the beginning of each trading session. Traders often use the daily VWAP as a reference point to gauge the fairness of their trade executions relative to the prevailing market prices. Price deviations from the daily VWAP can indicate shifts in market sentiment and potential trading opportunities.
2. Previous Day VWAP (Prv.D): The previous day VWAP line reflects the average price at which the asset was traded during the preceding trading day. It helps traders assess the continuity or deviation of the current day's price action relative to the previous day's trading activity. Traders often observe the previous day VWAP for insights into potential support or resistance levels and to identify whether the current day's price is trading above or below the previous day's average price.
3. Weekly VWAP (W): The weekly VWAP line calculates the average price of the asset over the entire week, taking into account the volume traded at each price level. Traders use the weekly VWAP to gain a broader perspective on the asset's price movement and potential trend directions. It can act as a significant support or resistance level, especially when the price interacts with the weekly VWAP.
4. Monthly VWAP (M): The monthly VWAP line provides a longer-term perspective by averaging the asset's price and volume data over the entire month. It helps traders identify key price levels that are significant within the monthly timeframe. Traders often observe the monthly VWAP to assess the overall trend and to determine whether the current price is trading above or below the monthly average.
5. Quarterly VWAP (Q): The quarterly VWAP line calculates the average price and volume data over a three-month period, representing a longer-term view of market activity. Traders use the quarterly VWAP to identify significant price levels and to analyze the broader trend within the quarterly timeframe. Deviations from the quarterly VWAP can indicate potential shifts in market sentiment and trading opportunities.
6. Yearly VWAP (Y): The yearly VWAP line represents the average price and volume data over the course of a year. It offers a comprehensive long-term perspective on the asset's price behavior and trend. Traders often consider the yearly VWAP as a key reference point for assessing the asset's overall performance and identifying major support or resistance levels.
By observing the VWAP lines, traders can gain insights into the prevailing market sentiment, potential support or resistance levels, and deviations from average prices. These deviations can be useful for identifying potential trading opportunities, such as when the price significantly deviates from the VWAP lines, suggesting potential overbought or oversold conditions. Additionally, VWAP can serve as a benchmark for evaluating trade executions and assessing the fair value of an asset.
It's important to note that while VWAP is a valuable tool, it should be used in conjunction with other technical analysis indicators and strategies to make informed trading decisions. Traders should consider factors like market context, trend analysis, and risk management principles to validate signals and confirm potential trading opportunities.
Bollinger Bands and Donchian Channels
In addition to VWAP this indicator also has combined the power of Bollinger Bands and Donchian Channels to produce a solid framework. The time frame by default is set to 30 min which is good for intraday trading but you can also change that in the setting to always use chart time frame intervals which works better on longer time frames.
IMPORTANT: You can change the time frame to always use chart or keep the default on 30 min or change it to another timeframe manually. If you allow the chart to always provide the intervals then the default 30 min will be ineffective and it automatically adjust to chart timeframe. Personally I think a fixed timeframe work better so keep in that way if you trade on 30 min or lower time frame.
Bollinger Bands and Donchian Channels are two popular technical analysis tools that provide valuable insights into price volatility, potential breakout levels, and support/resistance areas. When used in combination, they offer a comprehensive framework for analyzing market conditions and identifying trading opportunities.
Bollinger Bands: Bollinger Bands consist of two lines plotted above and below a moving average, typically a simple moving average (SMA). The upper band is calculated by adding the standard deviation of price multiplied by a customizable standard deviation factor to the SMA. The lower band is calculated by subtracting the standard deviation multiplied by the same factor from the SMA. The key features of Bollinger Bands are as follows:
1. Volatility Measurement: Bollinger Bands expand and contract based on market volatility. When the bands widen, it indicates higher volatility, and when they narrow, it suggests lower volatility. Traders can observe the width of the bands to gauge the potential for price movements and volatility expansions.
2. Overbought/Oversold Levels: Bollinger Bands can help identify overbought and oversold conditions in the market. When the price reaches or exceeds the upper band, it may indicate that the asset is overbought and due for a potential reversal or pullback. Conversely, when the price reaches or falls below the lower band, it may suggest oversold conditions and a possible bounce or reversal.
Donchian Channels: Donchian Channels consist of two lines representing the highest high and lowest low within a specified period. The key characteristics of Donchian Channels are as follows:
1. Breakout Levels: The upper line of the Donchian Channel represents the highest high within the specified period, while the lower line represents the lowest low. Traders often use Donchian Channels to identify potential breakout levels. When the price breaks above the upper channel line, it may indicate a bullish breakout and the potential for further upward momentum. Conversely, a break below the lower channel line suggests a bearish breakout and the possibility of downward momentum.
2. Support/Resistance Areas: Donchian Channels also act as dynamic support and resistance levels. The upper channel line can act as a resistance level where the price may encounter selling pressure. The lower channel line can act as a support level where the price may find buying interest. Traders can monitor price interactions with these levels to make informed trading decisions.
Advantages of Using Bollinger Bands and Donchian Channels Together: By combining Bollinger Bands and Donchian Channels, traders can gain a more comprehensive view of market conditions and potential trading opportunities. Here are some advantages of using them together:
1. Volatility Confirmation: Bollinger Bands help identify periods of high or low volatility, while Donchian Channels confirm breakouts and potential trend changes. When the bands widen and a breakout occurs above or below the Donchian Channels, it can provide confirmation of increased volatility and the start of a new trend.
2. Price Extremes and Breakouts: Bollinger Bands assist in identifying overbought and oversold conditions, while Donchian Channels help pinpoint breakout levels. When price reaches an extreme level according to Bollinger Bands and coincides with a breakout from the Donchian Channels, it can signal a significant trading opportunity.
3. Support/Resistance Validation: Donchian Channels act as dynamic support and resistance levels, and Bollinger Bands can validate these levels. When price bounces off the upper or lower Bollinger Band near a Donchian Channel level, it provides additional confirmation of the support or resistance area.
4. Risk Management: The combination of Bollinger Bands and Donchian Channels enables traders to set more precise stop-loss levels and define risk. They can place stop-loss orders beyond the support or resistance levels identified.
Standard Deviation
Standard deviation bands by default are disabled but you can easily enable them in the setting. The 1 standard deviation bands are made invisible by default to avoid a crowded space. You can reduce the transparency to view them.
In intraday trading, the Daily VWAP (Volume Weighted Average Price) with 3 standard deviations is a powerful tool that helps traders gauge price movements and potential trading opportunities. Here's how it works and why it is useful:
1. Calculation of Daily VWAP: The Daily VWAP is the average price at which a security has traded throughout the trading day, weighted by the volume of each trade. It provides a measure of the average price that traders have paid for the asset during the day.
2. Standard Deviation: Standard deviation is a statistical measure that quantifies the dispersion or variability of prices around the Daily VWAP. It gives an indication of how much prices deviate from the average. A higher standard deviation suggests greater price volatility.
3. Three Standard Deviations: By adding and subtracting three times the standard deviation from the Daily VWAP, you create bands that represent the potential price range within which the majority of intraday trading activity is expected to occur. These bands act as potential support and resistance levels and help traders identify price extremes.
4. Price Reversals: When the intraday price extends beyond the upper or lower band (three standard deviations), it suggests an overextended move or potential price reversal. Traders interpret this as an opportunity to enter or exit trades. If the price moves beyond the upper band, it may indicate overbought conditions and a possible reversal to the downside. Conversely, if the price moves below the lower band, it may signal oversold conditions and a potential reversal to the upside.
5. Volatility and Breakouts: Intraday traders often look for volatility and breakout opportunities. The three standard deviation bands on the Daily VWAP provide valuable information about price volatility. When the price breaks out of the bands, it suggests a significant increase in volatility and potential opportunities for intraday traders to take advantage of strong momentum moves.
6. Risk Management: The three standard deviation bands help traders define their risk and set stop-loss orders. By placing stop-loss orders outside the bands, traders can protect their positions in case the price moves beyond the expected range. This risk management technique allows traders to limit their potential losses and preserve capital.
7. Confirmation with Other Indicators: Intraday traders often use the three standard deviation bands on the Daily VWAP in conjunction with other technical indicators or chart patterns to strengthen their trading decisions. The bands can validate other signals or provide additional confirmation before entering or exiting a trade.
Overall, the Daily VWAP with three standard deviations is a valuable tool for intraday traders as it helps identify price extremes, potential reversals, volatility, and breakout opportunities. By incorporating this indicator into their trading strategies, traders can make more informed decisions and enhance their intraday trading performance.
Auto Boxed Range Detector
The true innovation in the "VWAP Xing D, Prv.D, W, Q, M, & Y + SD" indicator lies in the integration of the sophisticated 'Auto Boxed Range Detector.' This feature serves as the cornerstone of the tool's enhanced functionality, shedding light on critical price ranges to give traders a distinct advantage when identifying potential breakouts or breakdowns.
Meticulously designed with the needs of traders in mind, the Auto Boxed Range Detector automates the process of pinpointing trading ranges, resulting in increased precision and swiftness in your decision-making. By automating this crucial aspect of technical analysis, traders can now focus on other essential factors, ultimately maximizing their trading efficiency.
Furthermore, the Auto Boxed Range Detector helps traders avoid falling prey to false breakouts. By identifying the top of the boxed range in relation to resistance levels, users can more accurately predict the likelihood of a breakout. For instance, if the top of the boxed range is situated near a resistance line, the chances of a breakout are diminished unless the market is experiencing a trend day.
In essence, the Auto Boxed Range Detector not only streamlines the identification of trading ranges but also provides invaluable insights into the validity of potential breakouts or breakdowns. This innovative feature makes the "VWAP Xing D, Prv.D, W, Q, M, & Y + SD" indicator an indispensable tool for traders seeking to capitalize on opportunities while minimizing risk in today's fast-paced financial markets.
Once you get used to this tool it will be an integral part of your trading.
PM RTH AH VWAPs [vnhilton]FOR STOCKS ONLY.
Simply 3 different VWAPs for the pre-market, regular trading session, and the after hours, using session.is_ variables (not sure if they were recently added. Regardless, it would be nice to have a session.isfirstbar_postmarket variable to avoid having to write the code for calculating VWAP instead of simply using a ta.vwap function). Treats all 3 sections of the day as separate sessions with their own characteristics i.e. differing levels of liquidity and market dynamics. I would argue this is better than just using a VWAP calculated from the pre-market open until after hours close, as it would make using the VWAPs as a benchmark more accurate when taking trades at these different periods of the day.
QQQ NDX NQ Price Converter+ [Pt]This is a + version of my original QQQ NDX NQ Price Converter indicator
Description
The QQQ NDX NQ Price Converter is a powerful and easy-to-use tool that allows traders to view corresponding price levels for linked instruments in real-time. This includes QQQ, NDX, NQ, and NAS100USD. Although these instruments often move in sync, differences in price movements, volume, and trading hours can create unique key levels and support/resistance areas for each. By mapping these levels on the same chart, traders can more easily spot trading opportunities and improve their chances of success.
Customizable features
- multiplier from the closest whole number price level
- line color
- line style
- label position / size
- # of levels to display
- toggle current price display table
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This script includes the following premium unique features.
QQQ / NDX Gaps detector
A gap is an area on a chart where the price between two bars changes significantly without any trades happening between them. Such gaps often occur when a strong shift in sentiment happens during the hours when markets are usually closed. This indicator highlights these gaps on the chart and extends them further until they have been covered (i.e., when a newer bar has crossed that gap).
Overnight gaps from QQQ or NDX can be mapped directly onto NQ chart
VWAPs
VWAPs of these linked instruments can be mapped onto the chart. For example, NQ VWAP mapped onto QQQ chart, or vise versa. This allows for clear visualization of the price action near these VWAP levels.
Custom Cross Instruments Price Targets
Want to trade QQQ options while watching NQ chart or vise versa? You can set upto 8 price targets and see the corresponding converted price level. No need to switch between charts to try to figure out which price level corresponds to which.
SPY SPX ES Price Converter+ [Pt]This is a + version of my original SPY SPX ES Price Converter indicator
Description
The SPY SPX ES Price Converter is a powerful and easy-to-use tool that allows traders to view corresponding price levels for linked instruments in real-time. This includes SPY, SPX, ES, and SPX500USD. Although these instruments often move in sync, differences in price movements, volume, and trading hours can create unique key levels and support/resistance areas for each. By mapping these levels on the same chart, traders can more easily spot trading opportunities and improve their chances of success.
Customizable features
- multiplier from the closest whole number price level
- line color
- line style
- label position / size
- # of levels to display
- toggle current price display table
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This script includes the following premium unique features.
SPY / SPX Gaps detector
A gap is an area on a chart where the price between two bars changes significantly without any trades happening between them. Such gaps often occur when a strong shift in sentiment happens during the hours when markets are usually closed. This indicator highlights these gaps on the chart and extends them further until they have been covered (i.e., when a newer bar has crossed that gap).
Overnight gaps from SPY or SPX can be mapped directly onto ES chart
VWAPs
VWAPs of these linked instruments can be mapped onto the chart. For example, ES VWAP mapped onto SPY chart, or vise versa. This allows for clear visualization of the price action near these VWAP levels.
Custom Cross Instruments Price Targets
Want to trade SPY options while watching ES chart or vise versa? You can setup to 8 price targets and see the corresponding converted price level. No need to switch between charts to try to figure out which price level corresponds to which.
Moonhub IndexMoonhub Index combines several popular technical indicators to create an aggregated index that aims to give a clearer overall picture of the market. The index takes into account the current market condition (trending, ranging, or volatile) to adjust its calculations accordingly.
The indicators used in this composite index are:
Hull Moving Average (HMA)
Fisher Transform (FT)
Williams Alligator
Moving Average Convergence Divergence (MACD)
Average True Range (ATR)
On-Balance Volume (OBV)
Money Flow Index (MFI)
Accumulation/Distribution (AD)
Pivot Points
True Strength Index (TSI)
Volume-Weighted Average Price (VWAP)
The script calculates the values of each indicator and then normalizes and weighs them according to predefined weights. The composite index is formed by summing the weighted values of each indicator. The final Moon Index is plotted on the chart, along with several other related lines like the exponential moving averages (EMA) and simple moving averages (SMA) of the index.
This custom index can be used by traders to get a more comprehensive view of the market and make better-informed trading decisions based on the combined insights of multiple indicators.
Percent of U.S. Stocks Above VWAPThis indicator plots a line reflecting the percentage of all U.S. stocks above or below their VWAP for the given candle. Horizontal lines have been placed at 40% (oversold), 50% (mid-line), and 60% (overbought). I recommend using this indicator as a market breadth indicator when trading individual stocks. In my experience, this indicator is best utilized while trading the major indices (SPX, SPY, QQQ, IWM) or their futures (ES, NQ, RTY) in the following manner:
- When the line crosses 50%, a green or red triangle is plotted indicating the majority of market momentum has turned bullish or bearish based on price positioning vs. VWAP. Look for longs when the line is rising (green) or above 50%, or shorts when the line is falling (red) or below 50%.
- When the line is below 40%, indicator shows red shading; I would not be long anything during this period. When the line exits this level, I begin looking for long entries. This line is adjustable in the indicator settings if you prefer to use a tighter or looser oversold level.
- When the line is above 60%, indicator shows green shading; I would not be short anything during this period. When the line exits this level, I begin looking for short entries. This line is adjustable in the indicator settings if you prefer to use a tighter or looser overbought level.
This indicator uses the TradingView ticker “PCTABOVEVWAP.US”, thus it only updates during NY market hours. If trading futures, I recommend applying VWAP to your chart and using that as the level to trade against in a similar manner, along with your personal price action analysis and other indicators you find useful.
[Hoss] VWAP ADThe VWAP ( Volume Weighted Average Price ) Deviation script is a powerful tool designed for traders to analyze the relationship between price and volume . By calculating deviations around the VWAP , the script allows users to identify key support and resistance levels that can help in making better-informed trading decisions.
The script calculates VWAP based on the chosen data source (default is closing price) and then computes deviations above and below the VWAP using either the Average Deviation or the Standard Deviation method. The user can select the desired method through the script's input options. These deviations are then plotted as bands on the chart, providing a visual representation of the areas where the price may potentially revert or experience a breakout.
A unique and valuable feature of this script is the addition of a monitor that counts the number of times the price crosses above the Upper Deviation level 2 and below the Lower Deviation level 2 within a user-defined lookback period. This monitor is displayed as a table in the bottom right corner of the chart and can be enabled or disabled through an input option.
The cross count monitor serves as a valuable aid to traders by providing insights into the historical frequency of price crossing the deviation levels. This information can be used to identify potential trading opportunities based on historical price behavior around these levels.
VWAP2D+Displays the current and previous days' VWAP. A useful tool for intraday VWAP traders or to optimize longer term entries or exits.
Features:
Shows levels exceeding the average deviation for the time of day as either warm or cool gradients.
Custom alerts including "Closing In Range" which uses the ATR to determine if the closing value in in the vicinity of the current day's VWAP.
Auto anchored VWAP Highest/Lowest Last 'n' bars The VWAP (Volume Weighted Average Price) indicator is used to calculate the average price weighted by volume. This indicator is designed to automatically draw VWAPs from the highest and lowest points of the last 'n' bars.
It utilizes arrays to calculate the values of VWAP and plot it on the chart on the last historical bar. This version was coded to get a similar version to the official "VWAP Auto anchored" with the highest/lowest selected settings.
To use VWAP, traders can look for price movements relative to the VWAP line to identify potential support or resistance levels. It can also be used in conjunction with other technical indicators to develop trading strategies.
Vwap Stop lossThe VWAP Stop Loss indicator is a technical analysis tool that helps traders determine where to set their stop loss levels based on the Volume-Weighted Average Price ( VWAP ).
This indicator calculates the VWAP based on a specified length and multiplies it by a factor, which helps determine the distance for the stop loss levels.
When using this indicator, the red line represents the short stop loss level and the teal line represents the long stop loss level.
The lines will adjust automatically with the changing price action to ensure they always remain at the appropriate distance from the VWAP .
This indicator can be used on any time frame and for any market, making it a versatile tool for traders.
It can help you manage your risk by providing an objective method for setting stop loss levels, which can help increase the chances of successful trades.
Additionally, this indicator can also be used in combination with other technical indicators to help make more informed trading decisions.
VWAP filtered MACD Bars with positive MACD histogram value and closing above VWAP are colored, long positions should be taken in areas made of those bars.
Similarly, bars with negative MACD histogram value and closing below VWAP are also colored, short positions should be taken there.
This indicator by default should be a part of your trend following trading system.
In the setting you can change colors
Above grow: positive and rising MACD histogram value
Above fall: positive and falling MACD histogram value
Below fall: negative and falling MACD histogram value
Below grow: negative and rising MACD histogram value
