Here with another VWAP based indicator, this time using ZWAP (distance from VWAP) and flagging the extremities and crosses of each side, and graphing the bars since the last breach.
This basically gives a Bull / Bear energy / momentum
Yellow highlights = zero crossing , not entirely sure this is useful as of yet, but can give an early warning of a change - let me know if you find a genuine use for it !
Gray highlights = extreme reached, this generally signals exhaustion of the trend energy for Bull or Bear (depending on which side is reset obviously)
May develop further ; add bar colour options and more precise highlights, but only if it's of use to anyone.
This is really interesting. Gotta spend some time checking it out. Always look forward to what you come up with, thanks!
syrinxflunki
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@gabys225, Hey ! thanks - it basically tracks the distance of PRICE from daily VWAP, apparently smart money enters around +/- 3 levels.. thanks for your support :)
TMK2
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Hi, this is one of the more interesting VWAP based indicators. I’ve been checking it out for a few days and I really like it!
Are we still allowed to request additional features to be added to the indicator? I have a suggestion or two.
Koalafied_3
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Just looking through this now, interesting concept. I use vwap a lot and have it's z-score in my system but never thought to use it to conceptualise bull/bear energy. Very nice