Multi VWAP for Wick Hunter

19 paź 2023

Credit: honeybadgermakesfunnymoney for this Open Source Script
Published:

This is a tool that will allow you to visualize Wick Hunter's calcation of VWAP. Wick Hunter uses this calcuation for its Liqudations Bots.

There are four settings that you need to be configured to visualize your VWAP Band:

Long VWAP -  The distance from current VWAP price, in %, that price must be UNDER when a liquidation event occurs to meet your you VWAP condition. The higher the value, the more price must move below the current VWAP price for it to enter a LONG position.

Short VWAP - The distance from current VWAP price, in %, that price must be ABOVE when a liquidation event occurs to meet your you VWAP condition. The higher the value, the more price must move above the current VWAP price for it to enter a SHORT position.

VWAP Timeframe - Select the timeframe you want the VWAP to be measured on.

VWAP Periods: Input the time period over which you want the VWAP to be measured over. For example, if you use "5" for this and "15" for VWAP Timeframe. The VWAP will be calculated based on the last five 15 minute candles.

You can play around with these settings using the indicator provide above. The indicator will print a triangle when the conditon for VWAP is met for a long for short trade. Play around with these settings. A few good timeframes that are popular are 5 minute, 15 minute, and one hour (60 minute). As far as periods, the most common settings are between 5 periods and 15 periods. In general the lower the timeframe and periods and closer VWAP will follow price.