This calculates normal distance of price from VWAP. This is a mean reverting idea (something like ZScore), but using both "volume" and "close".
Useful for finding OB/OS areas and potential turning points.
Complete list of my indicators:
Shows the Daily, Weekly, Monthly, Quarterly, and Yearly VWAP.
Also shows the previous closing VWAP, which is usually very near the HLC3 standard pivot for the previous time frame. i.e. The previous daily VWAP closing price is usually near the current Daily Pivot. Tickers interact well with the previous Daily and Weekly closing VWAP.
Enabling the STDEV bands...
Draws two bands above/below VWAP,; input defines nr of points for bandwidth. Outer bands are simply double the value of inner bands. Helpful for intraday counter-trend trades anticipating pullbacks to VWAP. Gives instant snapshot of market showing if a trending or non-trend day. VWAP is the same across all timeframes but points will need to be adjusted. Another...
This is an update to my original VWAP Stdev Bands indicator found here:
* Fixed the calculation of the opening bar
* Added two additional deviation bands
* Added horizontal line of previous VWAP close
This update adds support for two more sets of bands, allowing you to show 1st, 2nd, and 3rd...
This a modified MAC-Z using Z-VWAP. Since this uses VWAP, the signals are derived indirectly from both volume and price action.
I have also included a way to smooth MACZ-VWAP, you can enable it via options page.
Note that this will not work on any FX pair, as volume is not available.
Z-distance from VWAP:...
I was reading some Impulse Trading literature by A. Elder.. In it, someone named Kerry Lovvorn proposed "An End of Day Trend Following System" for someone lazy.
Originally it is just price closing above an 8 ema (low) for long. Exit when price closes below an 8 ema (low). The opposite for a short position.
Conditions: Buy when price closed below...
Tried making candles of Vwap instead of normal price to see if something interesting would happen. Something interesting did happen as you can see.
Looks best in 4h because of reasons unknown. In lower timeframes it looks kinda stupid (moves the same as nrmal vwap). Day or above it looks the same as normal candles.
Gaps seem to work as s/r? or at least I've...
The script has traditional VWAP for two different timeframes along with an option to anchor them to a particular bar. VWAP bands are also included in the script. The bands and VWAP act as hidden support/resistance for the scrip and are useful for intraday trading.