ORB - Alerts, VWAP and MACD Checks, Extended Fib Levels
ORB Range Alerter with Shading, VWAP Check, MACD Check, and Extended Fibonacci Levels for TP – Fully Customizable
This indicator is designed to give you a comprehensive analysis of the Opening Range Breakout (ORB) combined with advanced conditions based on VWAP and MACD indicators, along with Extended Fibonacci Levels for both long and short TP positions.
Key Features:
Opening Range Breakout (ORB):
Defines the opening range at the market open (9:30 AM by default) based on your chart timeframe and shades it for visibility.
The high and low of the first candle after the open are plotted on the chart, creating a breakout range that traders can use to identify potential long or short positions.
VWAP Condition (Optional):
This indicator includes the option to enforce the VWAP (Volume-Weighted Average Price) as a condition for entering trades.
- Longs will only trigger if the price is above VWAP (when enabled).
- Shorts will only trigger if the price is below VWAP (when enabled).
Customizable : You can enable or disable the VWAP condition through a simple checkbox in the indicator’s settings.
MACD Condition (Optional):
Includes an optional MACD (Moving Average Convergence Divergence) condition.
- Longs will only trigger if the MACD line is above 0 and the signal line, providing confirmation of bullish momentum.
- Shorts will only trigger if the MACD line is below 0 and the signal line, indicating bearish momentum.
Customizable : You can enable or disable the MACD condition through a checkbox in the indicator’s settings, allowing you to trade with or without the MACD confirmation.
Fibonacci Extensions for Profit Targets:
Automatically calculates Fibonacci extension levels based on the ORB range for TP levels.
These levels provide key areas for potential profit-taking or reversal points.
Fibonacci extensions are plotted only after a confirmed breakout, either long or short.
The extensions include 127.2%, 161.8%, 200%, 261.8%, 423.6%, and 685.4%, offering a comprehensive set of targets for different trading strategies.
Shading of ORB Range:
The ORB high and low are visually emphasized on the chart with a shaded area for easy identification.
The shading is semi-transparent to help keep your chart clean and easy to read.
Customizable Timeframe:
The ORB range is defined based on the time of day (default is 9:30 AM to 4:00 PM), but you can adjust the timeframe to suit different trading sessions or markets.
Alerts for Breakouts:
Built-in alerts notify you when price crosses above or below the ORB high or low, along with the optional VWAP and MACD conditions.
Alerts can be used to create automated notifications or even execute automated trades based on your chosen settings.
How to Use:
Long Trade Example: When the price crosses above the ORB high, VWAP is above the price, and MACD shows bullish momentum (if these conditions are enabled), a potential long entry is triggered. You can use the Fibonacci extensions for profit targets.
Short Trade Example: When the price crosses below the ORB low, VWAP is below the price, and MACD confirms bearish momentum (if these conditions are enabled), a short entry is triggered. Fibonacci levels for the short position can guide your exit strategy.
Flexibility: You can enable or disable both VWAP and MACD conditions based on your trading style. This flexibility allows the indicator to adapt to different market conditions and strategies.
Customization Options:
Enable/Disable VWAP Condition: Decide if you want to include VWAP as a trade filter.
Enable/Disable MACD Condition: Choose whether to require MACD as confirmation for trade entries.
Adjust ORB Timeframe: Customize the time range for defining the ORB based on the market you're trading.
Fibonacci Extensions: Visualize key profit targets using Fibonacci extensions, which are automatically calculated and displayed after a breakout.
In den Scripts nach "vwap" suchen
Rolling VWAPThe Rolling VWAP indicator is a powerful technical analysis tool designed to help traders identify significant price levels and potential reversal points. This indicator combines a rolling volume-weighted average price (VWAP) with multiple standard deviation bands to provide a dynamic view of price volatility and market trends.
Key Features:
Rolling VWAP Calculation: The indicator calculates the VWAP using the high, low, and close prices (HLC3) over a user-defined rolling period. This VWAP is then plotted on the chart, providing a reliable benchmark for average price levels over a specified timeframe.
Adjustable Timeframes: Users can select from multiple timeframes (1 hour, 4 hours, 1 day, 3 days, 1 week) to calculate the RVWAP, allowing flexibility to analyze market trends over different periods.
Multiple Standard Deviation Bands: The indicator includes up to five adjustable standard deviation bands, each with customizable multipliers. These bands are plotted around the RVWAP to indicate potential support and resistance levels, helping traders identify areas of high and low volatility.
Customizable Display Settings: Users can toggle the visibility of each band and adjust their colors and transparency, making it easy to tailor the indicator to their specific analysis needs.
How to Use:
Selecting the VWAP Timeframe: Choose the desired timeframe for VWAP calculation from the options provided (1 hour, 4 hours, 1 day, 3 days, 1 week). This allows you to analyze price action over different periods and identify significant trends.
Adjusting Band Multipliers: Customize the multipliers for each standard deviation band to suit your trading strategy. By default, the indicator includes bands with multipliers of 2.0, 2.5, 3.0, 3.5, and 4.0. Adjust these values based on your preferred levels of price deviation.
Interpreting the Bands: The standard deviation bands provide key insights into market volatility. Inner Bands (e.g., 2.0 StdDev) indicate areas of normal price fluctuation. Price movement within these bands is generally considered stable. Outer Bands (e.g., 3.5 or 4.0 StdDev) highlight extreme price deviations. Price reaching these bands may signal overbought or oversold conditions, potentially leading to reversals.
Combining with Other Indicators: Enhance your analysis by using this indicator in conjunction with other technical tools such as moving averages, RSI, or MACD. This helps confirm signals and improve trading decisions.
Best Practices:
Trend Identification: Use the Rolling VWAP to identify the prevailing market trend. A rising VWAP indicates an uptrend, while a falling VWAP suggests a downtrend.
Support and Resistance Levels: The standard deviation bands act as dynamic support and resistance levels. Monitor price action around these bands for potential entry and exit points.
Volatility Analysis: Wider bands indicate higher market volatility, while narrower bands suggest lower volatility. Adjust your trading strategy accordingly based on the observed volatility levels.
24/7 Trading Instruments: This indicator is particularly useful for instruments that trade 24/7 and do not have defined sessions, such as cryptocurrencies. Unlike a session-anchored VWAP, the rolling VWAP provides a continuous measure of average price levels, making it ideal for analyzing markets that operate around the clock.
By integrating the Rolling VWAP indicator into your trading routine, you can gain a deeper understanding of price dynamics and make more informed trading decisions. Whether you are a day trader, swing trader, or long-term investor, this indicator provides valuable insights to help you navigate the markets with confidence.
Multi-Time AVWAP_BEARConcept
Collaboration Highlight:
This was a collaboration with @Chart_School and @KioseffTrading Thank you to both, along with Ricardo Santos for his awesome library we used.
Overview
See how you view different time frame charts with one indicator and little to no adjustment.
Innovation:
The concept of using Anchored VWAP (AVWAP) with time events is a powerful technique in trading and technical analysis. Anchored VWAP differs from the traditional Volume Weighted Average Price (VWAP) by allowing traders to select a specific starting point or "anchor," from which the VWAP calculation begins. This approach is particularly useful for assessing price movements in relation to significant market events or specific periods of interest.
Utility and Flexibility:
Explaining the flexibility in turning on and off different time slices without much adjustment showcases a user-friendly design.
Key Uses and Benefits
Comparative Performance:
Anchoring the VWAP at the start of different time frames (e.g., weekly, monthly, quarterly) enables traders to compare the current price performance against previous periods. This comparison can highlight trends or shifts in trading momentum relative to past activity.
Support and Resistance Levels:
AVWAP lines can act as dynamic support and resistance levels. When anchored to significant time events, these levels gain additional relevance as they reflect the market's valuation of an asset since a notable point in time. Traders often watch for price interactions with these levels to make informed trading decisions.
Risk Management:
Anchored VWAP can serve as a benchmark for setting stop-loss orders or profit targets. By considering the price's relation to the AVWAP of a specific period or after a key event, traders can define exit points that are aligned with market-generated information.
Trend Confirmation: The direction and stability of the price relative to an anchored VWAP can indicate the strength of a trend. If the price consistently remains above an AVWAP anchored at a bullish event (or below for a bearish event), it may confirm the trend's continuation.
Further Reading
Educational Resource:
Becuase we are using Volume with a relation to price AVWAP is very powerful to show data that cannot be eye balled on its own. Brian Shannon's book "Maximum Trading Gains With Anchored VWAP - The Perfect Combination of Price, Time & Volume", is an excellent guide to best practices on how to use AVWAP to your advatage while trading. His book goes into depth about the best way to use this indicator to its fullest potencial.
Tips for Using This Indicator
Weekly / Monthly / Quarterly Settings:
All the settings for the lower timeframe charts are similar. Here is an example of seeing a Weekly AVWAP for 6 weeks, showing:
1. The start of the 6-week AVWAP is using a High Low Close source for the first candle of the 6 weeks.
2. The lines are colored "Red" for the AVWAPs.
3. The line thickness is "1".
Yearly Settings
Simlair to the other settings with the Yearly we give you a couple more options along with 3 years to toggle on and off. The idea was to allow the user to see which AVWAP most effected by price and quickly toggle them on and off to unclutter their chart.
Watch for how and if the labels over lap and choose the one you feel is most in play. In Shannon's Book he talks about "Hand off's" and "Pinches". These concepts are easy to spot with being able to see all the Major Time Events, then simply toggle off the one you dont need.
A great benefit to how we coded this script you can buzz through a watch list without having to re-adjust the Anchor points. This will save you time if following a basket of symbols and show coorlations in the overall market.
Secret Feature
When looking at these becuase the user doesn't need to hand plot the anchor points and we are fouced on major time slices, I encourge you to use the Trading View "Bar Replay" Feature. You think that you are missing a high or low AVWAP but what is happening is the indicator is re-plotting a level that is super hard to see, then you will see the hand-offs like Shannon discusses in his book. This blew me away while we were discussing it post development.
Conclusion
There are so many uses of how to use VWAP and therories on its best practice. We are only using "TIME EVENTS". For more ways to use AVWAP, I would encourge you to also handplot them with Trading View's new "Anchored VWAP", as seen in the standard toolbar.
Using your ideas along with this indicator i think its a powerful combination.
Also Check Out: allanster's - Anchored VWAP Pinch & Handoff, Intervals, and Signals
He has a great AVWAP script that incorporates many AVWAP ideas.
ASFX SignalsDescription:
The ASFX Signals Indicator, created by OmegaTools, is an open-source Pine Script™ code designed to provide traders with valuable signals for potential entry and exit points in the market. This script incorporates a combination of Exponential Moving Average (EMA) signals and Volume Weighted Average Price (VWAP) confluence, enhancing the precision of trading decisions.
Key Features:
Threshold Configuration: Users can customize the threshold parameter (thres) to fine-tune signal sensitivity, adapting the indicator to different market conditions.
EMA Length Customization: The script allows traders to adjust the length of the Exponential Moving Average (EMA) with the "EMA Length" input, providing flexibility in capturing various trends.
Show/Hide Options: Users have the flexibility to choose whether to display the EMA line, VWAP confluence, and VWAP upper and lower bands, tailoring the visual representation based on individual preferences.
VWAP Confluence: The indicator integrates VWAP confluence, offering additional confirmation for trading signals. Traders can choose the VWAP resolution and set the deviation parameter for enhanced accuracy.
Signal Filtering: The script intelligently filters signals based on the percentage of the candle that crosses the EMA. Long signals are filtered out if the closing price is above the VWAP or the specified threshold, and short signals are filtered out if the closing price is below the VWAP or the threshold.
Visual Signals: The indicator provides clear visual signals for long and short entries, making it easy for traders to identify potential opportunities. The signals are accompanied by arrows and labels for quick interpretation.
How to Use:
Adjust the threshold, EMA length, and VWAP parameters based on your trading preferences.
Choose whether to display the EMA line, VWAP confluence, and upper/lower bands.
Interpret long and short signals for potential entry and exit points, considering the percentage of the candle that crosses the EMA.
Consider additional confirmation provided by VWAP confluence.
Concepts and Methodology:
The ASFX Signals Indicator combines EMA signals and VWAP confluence to generate actionable trading signals. The script intelligently considers the percentage of the candle that crosses the EMA, providing a nuanced approach to signal confirmation. The EMA offers trend insights, while VWAP confluence enhances signal reliability.
Salman Indicator: Multi-Purpose Price ActionSalman Indicator: Multi-Purpose Price Action Tool for Pin Bars, Breakouts, and VWAP Anchoring
This indicator provides a comprehensive suite of price action insights, designed for active traders looking to identify key market structures and potential reversals. The script incorporates a Quarterly VWAP for trend bias, marks pin bars for possible reversal points, highlights outside bars for volatility signals, and indicates simple breakouts and pivot-level breaks. Customizable settings allow for flexibility in various trading styles, with default settings optimized for daily charts.
Outside Bars : Represented by an ⤬ symbol on the chart, these indicate bars where the current high is greater than the previous bar’s high, and the low is lower than the previous bar’s low, signaling high volatility and potential market reversals.
Pin Bars : Denoted by a small dot at the top or bottom of a candle’s wick, these are crucial signals of potential reversal areas. Pin bars are identified based on the percentage length of their shadows, with adjustable strictness in settings.
Quarterly VWAP : The light blue line on the chart represents the VWAP (Volume-Weighted Average Price), which is anchored to the Quarterly period by default. The VWAP acts as a directional bias filter, helping you to determine underlying market trends. This period, source, and offset are fully adjustable in the script’s settings.
Simple Breaks : Hollow candles on the chart indicate "simple breaks," defined when the current bar closes above the previous high or below the previous low. This is an effective way to highlight directional momentum in the market.
Bonus Pivot Breaks : The tilde symbol ~ appears when the price closes above or below prior pivot high/low levels, helping traders spot significant breakout or breakdown points relative to recent pivots.
Alerts
Simple Breaks : Alerts you when a breakout occurs beyond the previous bar’s high or low. Pin Bars : Notifies you of potential reversal points as indicated by bullish or bearish pin bars. Outside Bars : Triggers an alert whenever an outside bar is detected, indicating possible volatility changes.
How to Use
VWAP for Trend Bias : Use the Quarterly VWAP line to gauge overall market trend, with settings that allow adjustment to daily, weekly, monthly, or even larger time frames.
Pin Bars for Reversal Potential : Look for the dot markers on candle wicks, where the strictness of the pin bar detection can be adjusted via settings to match your trading preference.
Simple and Pivot Breaks for Momentum : Watch for hollow candles and the tilde symbol ~ as indicators of potential breakout momentum and pivot break levels, respectively.
This script can serve traders on multiple timeframes, from daily to weekly and beyond. The flexible configuration allows for adjustments in VWAP anchoring and pin bar criteria, providing a tailored fit for individual trading strategies.
Expanding Volume Range with Anchored VWAPExpanding Volume Range with Anchored VWAP Indicator Summary
This Pine Script indicator is designed for intraday trading, particularly for timeframes of 60 minutes or less. It combines several technical analysis concepts to provide traders with a comprehensive view of price action, volume, and potential support/resistance levels.
## Key Features
1. **Anchored VWAP (Volume Weighted Average Price)**
- Calculates and displays an Anchored VWAP line
- Resets at the start of each new day or when a new highest volume bar is detected
2. **Expanding Volume Range (EVR)**
- Identifies and highlights high volume bars
- Creates a box around the price range of the last three high volume bars
- Generates additional support/resistance lines based on this range
3. **Custom Multiplier Calculations**
- Allows users to customize the calculation of support/resistance levels
- Includes options for separate top and bottom multipliers
- Provides an exponential adjustment for fine-tuning
4. **Volume-Based Candle Coloring**
- Colors candles differently based on their volume relative to recent history
- Highlights the first candle of each session in a distinct color
5. **VWAP-Based Line and Fill Colors**
- Changes colors of lines and fills based on price position relative to VWAP
6. **Alert Generation**
- Creates alerts when price breaks above or below the EVR high and low levels
## User Inputs
The indicator offers several customizable inputs grouped into categories:
1. **Volume Colors**
- Customize colors for various elements (lines, fills, candles) based on volume and VWAP relationship
2. **Target Levels**
- Set multipliers for calculating target levels
3. **Multiplier Calculations**
- Enable/disable custom multiplier calculations
- Set base multipliers and exponents for top and bottom levels
## Functionality Breakdown
1. The indicator tracks the highest volume bars for the current and previous day.
2. It creates an Expanding Volume Range (EVR) based on the last three high volume bars.
3. Using the EVR, it calculates and draws support and resistance levels.
4. The levels can be calculated using either simple multipliers or a more complex exponential formula, depending on user preference.
5. Candles are colored based on their volume and whether they're the first candle of a session.
6. An Anchored VWAP is calculated and displayed, resetting at the start of each day or on new highest volume bars.
7. Alerts are generated when price moves beyond the EVR high or low levels.
## Use Cases
This indicator can be particularly useful for:
- Identifying potential support and resistance levels based on high volume price action
- Spotting changes in volume patterns throughout the trading session
- Recognizing price action relative to the Anchored VWAP
- Setting up potential entry and exit points based on the expanding volume range
Traders should use this indicator in conjunction with other forms of analysis and risk management strategies for best results.
BabyShark VWAP Strategy What the code does:
This Pine Script implements a trading strategy based on two indicators: Volume Weighted Average Price (VWAP) and On Balance Volume (OBV) Relative Strength Index (RSI). The strategy aims to identify potential buy and sell signals based on deviations from VWAP and OBV RSI crossing certain threshold levels.
How it does it:
**VWAP Calculation**: The script calculates the VWAP using either standard deviation or average deviation over a specified length. It then plots the VWAP and its upper and lower deviation bands.
**OBV RSI Calculation**: It computes the OBV and then calculates the RSI using the cumulative changes in OBV. The RSI is plotted and compared against predefined levels.
**Table Visibility and Occurrence Counting**: It allows the user to display a table showing the number of occurrences where the price is above Upper Dev 2, below Lower Dev 2, crosses above a higher RSI level, or crosses below a lower RSI level.
**Entries**: Long and short entry conditions are defined based on the position of the price relative to the VWAP deviation bands and the color of the OBV RSI. Entries are made when specific conditions are met, and there hasn't been a recent entry.
**Exit Conditions**: The script includes stop-loss and take-profit mechanisms. It exits positions based on price crossing the VWAP or a certain percentage, and it prevents further trading after a certain number of consecutive losses.
What traders can use it for:
**Trend Identification**: Traders can use the VWAP and its deviation bands to identify potential trend reversals or continuations.
**Volume Confirmation**: The inclusion of OBV RSI provides confirmation of price movements based on volume changes.
**Entry and Exit Signals**: The script generates buy and sell signals based on the specified conditions, allowing traders to enter and exit positions with defined stop-loss and take-profit levels.
**Statistical Analysis**: The visibility of occurrence counts in the table allows traders to perform statistical analysis on the frequency of price movements relative to the VWAP and OBV RSI levels.
Noa: Z-distance from VWAP with Kalman Smoother
Title: Noa: Z-distance from VWAP with Kalman Smoother
Description:
The "Z-distance from VWAP with Kalman Smoother" is a tool constructed on the premise that price evolves in distinct stages: normal or extreme trends (upward or downward) and transitional periods, termed as 'flips'. The Volume Weighted Average Price (VWAP) serves as a benchmark, representing the market's expectation of a fair value over a given time frame. However, since each stock trades on its unique price scale, direct comparisons are not feasible. This script introduces a standardized method, using the Z-score from the VWAP, to understand and compare these relationships across diverse scales.
Core Principles:
Stages of Price Movement:
- Prices don't move purely randomly; while they contain a random element, they oscillate in discernible patterns or stages—either maintaining a trend (normal or extreme) or undergoing transition (flip).
- VWAP as Fair Value: VWAP offers a dynamic representation of what the market perceives as fair value for a stock over a specific period.
- Standardizing Price Relations: Given the varied scales at which different stocks trade, a model was imperative to standardize these relations. The Z-score from the VWAP fulfills this role, offering a normalized measure of how far the price deviates from its perceived fair value.
Features:
Z-score Levels:
The indicator demarcates various stages of price movements, offering clarity on potential overbought or oversold conditions.
- Extreme Up Trend: Indicated when the Z-score surpasses the upper limit.
- Normal Up Trend: Represented when the Z-score lies between the flip upper and the upper limit.
- Transition (Flip): Recognized when the Z-score oscillates within the flip range.
- Normal Down Trend: Denoted when the Z-score is between the flip lower and the lower limit.
- Extreme Down Trend: Marked when the Z-score falls below the lower limit.
Visual Aids:
- Color-coded regions between specific Z-score levels and the Z-score plot itself elucidate the current market state.
- Kalman Filter: By incorporating a Kalman filter, the indicator offers a less noisy and smoother representation of the Z-score, enhancing its interpretability.
Usage:
Trend Analysis:
- The Z-score states and the color-coded plot facilitate a nuanced understanding of the prevailing market trend.
- Potential Reversal Points: Extremely positive or negative Z-scores might hint at impending reversals.
- Buy/Sell Signals: Z-score's interactions with the flip level can be interpreted as potential trading signals.
Example (for illustration purposes only):
AAPL since April 2022: The stock exited from a normal uptrend and transitioned potentially towards a downtrend. By the end of April, AAPL flipped twice before transitioning to a normal downtrend. By early May, the stock moved into an aggressive downtrend. Market buyers were able to counter this downtrend by June, but selling pressure persisted, pushing the stock back into an aggressive downtrend. By the end of June, buyers halted the aggressive selling and transitioned the stock from an aggressive to normal downtrend, then to a flip, and finally to a normal uptrend by the end of August. AAPL briefly peaked into an aggressive uptrend before being pressured back to a normal downtrend. The rest of 2022 saw AAPL attempting several short-lived uptrend flips. However, 2023 brought a change, with AAPL flipping into a normal uptrend by the end of January, maintaining it until August of that year.
Credits:
This script, inspired by Z distance from VWAP by LazyBear and Kalman Smoother by alexgrover, was revamped and enriched by nord-ouestadvisors to embed these core principles and heighten its usability. A special acknowledgment to ChatGPT by OpenAI for the guidance.
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 Weighted Moving Average with SMA, EMA, and VWAPThe Custom Weighted Moving Average with SMA, EMA, and VWAP (CWMA-SMA-EMA-VWAP) is a versatile and comprehensive trading indicator that combines the strength of Simple Moving Averages (SMAs), Exponential Moving Averages (EMAs), and the Volume Weighted Average Price (VWAP) to create a custom weighted moving average. This indicator is designed to provide a more holistic view of the market and enhance trading decisions by considering multiple moving average types and their respective timeframes. The indicator also highlights intersections between the custom weighted moving average and the individual SMA, EMA, and VWAP lines by changing their color to yellow, which can be used as potential entry or exit signals.
How to Use:
The CWMA-SMA-EMA-VWAP indicator can be used in various ways to make informed trading decisions. Here are some possible strategies:
Trend Identification: The custom weighted moving average (CWMA) can act as a dynamic support and resistance level, smoothing out the price movements and revealing the underlying trend. When the price is above the CWMA, it may indicate an uptrend, and when it's below, a downtrend. Traders can use this information to align their trades with the prevailing market trend.
Crossovers: The intersections between the CWMA and individual SMA, EMA, and VWAP lines are highlighted in yellow, which can serve as potential entry or exit signals. For instance, when the price or one of the moving averages crosses above the CWMA, it may signal a bullish trend, and traders could consider entering a long position. Conversely, when the price or one of the moving averages crosses below the CWMA, it may signal a bearish trend, and traders could consider entering a short position.
Confirmation of Signals: The CWMA-SMA-EMA-VWAP indicator can be used in conjunction with other technical analysis tools to confirm or strengthen trading signals. For example, traders may use oscillators like the RSI or MACD to confirm overbought or oversold conditions and identify potential reversals in tandem with the CWMA-SMA-EMA-VWAP crossovers.
Stop Loss and Take Profit Levels: The CWMA, SMAs, EMAs, and VWAP lines can serve as dynamic support and resistance levels, helping traders set stop loss and take profit targets. For example, a trader might set a stop loss below the CWMA during an uptrend or above the CWMA during a downtrend. Similarly, they might set take profit targets near significant SMA or EMA levels, anticipating that the price may reverse or consolidate at these points.
It's important to note that the CWMA-SMA-EMA-VWAP indicator, like any other technical analysis tool, should not be used in isolation. Combining it with other technical analysis methods, proper risk management, and a well-defined trading plan will increase the chances of success in the market. Additionally, traders should backtest and validate any strategy using historical data before applying it to real-world trading.
Cvwap-Pvwap 2.0A simple vwap based Intraday trend indicator.
Volume-Weighted Average Price (VWAP) - the average price weighted by volume, starts when trading opens and ends when it closes. This can help institutions buy or sell in large orders, without disturbing the market.
After buying or selling, institutions compare instrument price to closing VWAP values at end of the day.
For big financial institutions;
A buy order executed below the VWAP value, considered a good fill because the security was bought at a below average price.
A sell order executed above the VWAP would be deemed a good fill because it was sold at an above average price.
Simple price based moving average is not helpful for them; = as it doesn't incorporates volume traded. Hence - VWAP :)
So how it helps us in decoding the IntraDay-trend? - Through a 2 day vwap co-relation.
So, Closing value of previous day vwap = Pvwap
Today's running vwap = Cvwap
Defining the IntraDay Trend:
Moderately Bullish = candle closing price above Pvwap but below Cvwap
Super Bullish = Closing price is above both (Cvwap and Pvwap)
Moderately Bearish = Closing price is above Cvwap but below Pvwap
Super Bearish = Closing Price is below both (Cvwap and Pvwap)
A big gap between the Cvwap and the candle closing price defines the strong participation from institutions in that direction. (Strong Trend)
Moving with the smart money, in the overall trend is a wise decision for any intraday trader and this helps at its best.
RSI of VWAP [SHORT selling]This is SHORT selling version of RSIofVWAP strategy. Settings and Logic are totally different from LONG side version , hence I am publishing it as a new strategy.
Settings
============
VWAP of RSI Length 15
Slow EMA Length 200
Short entry level 25
Cover short level 70
stop loss 5
SHORT Entry
============
condition1 : When RSIofVWAP crossdown below 25 and VWAP is below ema200
condition2: When weekly RSIofVWAP crossdown 70 and VWAP (note : session vwap , not weekly vwap) is below ema200
condition3: Use VIX value , if you want to short when the price is above ema200
vwap RSI crossing down 70 and VIX RSI is cossing up 70
enter short ... This is like falling knife :-)
I need to add the code -- later
if any of above condition is TRUE , SHORT entry will be taken
Take Profit
============
When close less than short entry price and RSIofVWAp is crossing up 25 , take profit ...close 1/3 of the position
Exit
============
When RSIofVWAP crossing up 70 level
Stop Loss
============
Stop Loss is set to 5%
Note:
1. When strategy is in SHORT position , background and bar color changes to gray
2. When strategy is already in short position , possible entries are shown in yellow background
3. RSI Length 15 is working most of the equities on hourly chart. ( RSI length 9 and 14 also works good , but not for all ... You may want to try which setting works for your symbol)
4. weekly VWAP (blue color) is also plotted by default ... you can disable it if you dont want to see it. But there is advantage keeping it on the chart , you can notice whenever weekly VWAP crosses above 70 line , trend is UP ... if you have LONG position you can hold on it ... Hurray :-)
Warning
============
For the educational purposes only
Matrix Series and Vix Fix with VWAP CCI and QQE SignalsMatrix Series and Vix Fix with VWAP CCI and QQE Signals
Short Title: Advanced Matrix
Purpose
This Pine Script combines multiple technical analysis tools to create a comprehensive trading indicator. It incorporates elements like support/resistance zones, overbought/oversold conditions, Williams Vix Fix, QQE (Quantitative Qualitative Estimation) signals, VWAP CCI signals, and a 200-period SMA for trend filtering. The goal is to provide actionable buy and sell signals with enhanced visualization.
Key Features and Components
1. Matrix Series
Smoothing Input: Allows customization of EMA smoothing for the indicator (default: 5).
Support/Resistance Zones: Based on CCI (Commodity Channel Index) values.
Dynamic zones calculated with customizable parameters (SupResPeriod, SupResPercentage, PricePeriod).
Candlestick Visualization: Custom candlestick plots with colors indicating trends.
Dynamic levels for overbought/oversold conditions.
2. Overbought/Oversold Signals
Overbought and oversold levels are adjustable (ob and os).
Plots circles on the chart to highlight extreme conditions.
3. Williams Vix Fix
Identifies potential reversal points by analyzing volatility.
Uses Bollinger Bands and percentile thresholds to detect high-probability entries.
Includes two alert levels (alert1 and alert2) with customizable criteria for signal filtering.
4. QQE Signals
Based on the smoothed RSI and QQE methodology.
Detects trend changes using adaptive ATR bands (FastAtrRsiTL).
Plots long and short signals when specific conditions are met.
5. VWAP CCI Signals
Combines VWAP and CCI for additional trade signals.
Detects crossovers and crossunders of CCI levels (-200 and 200) to generate long and short signals.
6. 200 SMA
A 200-period simple moving average is plotted to act as a trend filter.
The script rules recommend buying only when the price is above the SMA200.
Customizable Inputs
General:
Smoothing, support/resistance periods, overbought/oversold levels.
Williams Vix Fix:
Lookback periods, Bollinger Band settings, percentile thresholds.
QQE:
RSI length, smoothing factor, QQE factor, and threshold values.
VWAP CCI:
Length for calculating deviations.
Visual Elements
Dynamic candlestick colors to indicate trend direction.
Overbought/oversold circles for extreme price levels.
Resistance and support lines.
Labels and shapes for buy/sell signals from Vix Fix, QQE, and VWAP CCI.
Alerts
Alerts are configured for the Matrix Series (e.g., "BUY MATRIX") and other components, ensuring traders are notified when significant conditions are met.
Intended Use
This indicator is designed for traders seeking a multi-faceted tool to analyze market trends, identify potential reversal points, and generate actionable trading signals. It combines traditional indicators with advanced techniques for comprehensive market analysis.
Previous Day Close and Average VWAP value, Current Day 30 min HLThe code provided is a TradingView Pine Script that creates a combined indicator consisting of two separate components:
Indicator 1: Plot Lines with VWAP
This component plots lines on the chart using two different colors and widths.
It uses a custom function f_newLine to create a new line object with a specified color and width.
It uses another custom function f_moveLine to move a line to a specific location on the chart.
The line_close line is moved to a specific date and closing price.
The line_vwap line represents the VWAP (Volume Weighted Average Price) and is plotted using the line.new function.
The VWAP calculation is performed using the typical price (average of high, low, and close) and volume.
The VWAP is plotted on the chart using the plot function.
The previous day's VWAP is also plotted and connected to the current day's VWAP with a line.
Indicator 2: 30 Min high and low breakout
This component identifies a specific time range ("0915-0945") within each trading day.
It uses the ta.valuewhen function to find the highest and lowest prices during that time range.
The highest price is stored in the high_thirtymin variable, and the lowest price is stored in the low_thirtymin variable.
These prices are plotted on the chart as circles, with green representing the high and red representing the low.
The indicator combines these two components to provide visual information about the VWAP and the high/low breakout within a specific time range. The code also includes some additional logic to handle barstate and ensure correct calculations and plotting.
SPY VWAPSPY VWAP adds the VWAP indicator for SPY on your current chart, and shows the current SPY VWAP level converted to ES / MES value. It uses the last close price of SPY and ES / MES to calculate the level.
By adding the regular VWAP indicator to your MES / ES chart, you will clearly see the difference between the VWAP of SPY and the futures chart. This is helpful when trading as price may respect both VWAP levels.
This indicator should only be used on ES and MES futures chart. It will behave weirdly if used on different tickers and it is not supported in the current version.
[blackcat] L1 Fibonacci VWAP RSI IndicatorLevel: 1
Background
Ingo Bucher proposed "Fibonacci RSI" in March,2003. It describes the advantages of considering Fibonacci retracement levels for use with the classic RSI indicator. Bucher reviews six charts, each displaying Fibonacci retracement levels for the RSI associated with each chart. The pine code given here will allow you to automatically recreate these charts for any security available in Tradingview. BTW, i enhanced it by changing RSI into VWAP RSI with hl2.
Function
For this Fib VWAP RSI indicator, it also applicable for original Bucher's fib concept. Bucher calculated his retracement levels by picking the RSI high and low for a given time window. In his examples, these were generally six months to a year's worth of data. Once the high and low were picked, he calculated retracement levels based on the well-known Fibonacci numbers (23.6%, 38.2%, 50%, 61.8%). This script here does the same thing. I use a "LookbackLength" (default: 400 bars), which represents a sliding data window that is used to determine the VWAP RSI high and low. The second input value controls the VWAP RSI period (default: 14 bars). The next three inputs select the retracement levels.
A total of eight different lines need to be drawn: the RSI itself, the 50% line, two retracements above the 50% point, two retracements below, and the zero and 100% lines. Pine script will create four plotlines per indicator, so I advise inserting the Fibonacci RSI twice. The first time it is inserted, leave the PlotRSI input with its default value, true. True tells pine script to plot the VWAP RSI itself. The second copy should have the input "Plot RSI" set to false. This will put the 50% line on your chart.
Inputs
LookbackLength --> Look Back Length.
RSILength --> RSI Length.
Fib1 and Fib2 --> Fibonacci lengths.
Key Signal
RawVWAPRSI --> Raw VWAP RSI output signal
Remarks
This is a Level 1 free and open source indicator.
Feedbacks are appreciated.
[blackcat] L2 Veronique Valcu VWAP Z-Score IndicatorLevel: 2
Background
Veronique Valcu's article "Z-Score Indicator" in Feb,2003 provided a description and commentary on a new method of displaying directional change normalized in terms of standard deviation. This indicator is realized in pine script here by using the following function code, adding vwap function, called vwap ZScore.
Function
This indicator has three input, "AvgLen", "Smooth1" and "Smooth2." Price is fixed in selected vwap price. AvgLen describes the length of the sample considered in the standard deviation calculation. Once created and verified, the function can be easily called in any indicator or strategy.
Inputs
AvgLen --> Length input for vwap Zscore.
Smooth1 and Smooth2 --> Smoothing length.
Key Signal
Curve1 --> vwap ZScore output fast signal
Curve2 --> vwap ZScore output slow signal
Remarks
This is a Level 2 free and open source indicator.
Feedbacks are appreciated.
TurboVWAPoscilOscillator based on VWAP and its standard deviations. It will display VWAP as a zero line and then an indicator line showing where price is in relation to VWAP expressed as Standard Deviation units.
This indicator is based on my awesome indicator TurboVWAP, so it shares most of its features:
- you can select whether you want a rolling or an anchored VWAP as basis.
- the VWAP will auto-set itself depending on the chart timeframe, so that it will be calculated based on the period you really want, not number of bars or similar.
- you can set the indicator to auto-set session start and end times for the session-anchored VWAP depending on the futures contract selected, so you don't need to mess with times.
Volume Weighted Reversal BandsThis is a vwap & vwma hybrid with upper & lower deviation bands that provide excellent price channels and reversal areas. It can be used on lower & higher timeframes, just increase the deviation % for higher timeframes. Try out the 1 minute timeframe with .5% deviation for great scalping levels.
Here is the calculation used for the main line.
(VWMA100 + VWMA500 + VWMA1000 + VWAP) / 4
So it combines 3 VWMAs with the VWAP and divides that number by 4 to give us a moving average. Then we add new levels above and below that moving average to get our channels. The channels are separated by the % deviation you choose in the settings. For tighter bands, lower the percentage deviation and for wider bands, increase the percentage deviation.
The fattest line in the middle is the main moving average and you can expect price to regularly return to this level. The thick lines are the main moving average plus or minus the percentage deviation you have set. There are 10 levels in each direction from the main moving average. The is also a thin short term moving average as well with a custom calculation. It takes 4 different length moving averages that are weighted and 4 more that are volume weighted and divides the total by 8.The lines will be green when price is above the line and red when price is below the line. The thin white line is the VWAP on its own.
These lines will act as dynamic support and resistance so you can scalp them back and forth. These levels work so well because they are volume weighted and the algos hedge their positions back and forth constantly.
For best results, use this indicator on tickers with the highest volume and trading action as the price will stick to these levels better when the big money players are hedging. Some great tickers for this indicator are APPL, SPY, BTC, ETH.
All colors and linewidths can be customized in the settings easily as well as turning off the VWAP or short moving average and adjusting the percentage deviation for the channels.
***MARKETS***
This indicator can be used on all markets, including stocks, crypto, futures and forex.
***TIMEFRAMES***
This indicator can be used on all timeframes.
***TIPS***
Try using numerous indicators of ours on your chart for extra confirmation. Our favorites to pair with these bands are the Scalper Ribbon and Trend Friend Signals. The 3 combined give you a lot of extra confirmation on whether the market is going to reverse at these levels.
QuickSilver Intraday using RSIThis is a simple intraday strategy using very basic intraday super indicators - RSI & VWAP for working on Stocks . You can modify the values on the stock and see what are your best picks. Comment below if you found something with good returns
Strategy:
Indicators used :
The Relative Strength Index (RSI) is one of the most popular and widely used momentum oscillators.The values of the RSI oscillator, typically measured over a 14-day period, fluctuate between zero and 100. The Relative Strength Index indicates oversold market conditions when below 30 and overbought market conditions when above 70
VWAP identifies the true average price of a stock by factoring the volume of transactions at a specific price point and not based on the closing price. VWAP can add more value than your standard 10, 50, or 200 moving average indicators because VWAP reacts to price movements based on the volume during a given period.
Buying happens at VWAP Breakouts which is then validated with RSI to check for overbought & oversold conditions.
Aggressive trade stop can be employed by using the % for long and shorts in the strategy.
Usage & Best setting :
Choose a good volatile stock and a time frame - 10m.
RSI : 9
Overbought & Oversold - can be varied as per user
There is stop loss and take profit that can be used to optimise your trade
Extending this to,
In general guidelines for RSI :
Short-term intraday traders (day trading) often use lower settings with periods in the range of 9-11.
Medium-term swing traders frequently use the default period setting of 14.
Longer-term position traders often set it at a higher period, in the range of 20-30.
The template also includes daily square off based on your time.
Gunzo Market SRGunzo Market SR is a set of 3 tools combined for trend analysis on day trading strategy.
VWAP (Volume Weighted Average Price) :
The VWAP indicator is generally used for trend analysis. For example if the VWAP line is under the closing price for a long period of time, the trend is strong. In this script, the VWAP has been optimized for day trading as the indicator is calculated inside the daily range, and resets when a new day starts. This way the indicator reflects the daily trend and not the overall trend. You can also use the position of closing price according to the VWAP to find optimal entry points according to the indicator.
Highs / Lows :
The Highs / Lows are generally used for trend analysis too. The High / Lows are mainly used to identify prices that have been key during the past and that we can use as an indication for the following candles. In this script, the Highs / Lows are computed on the daily period and then displayed on the current period (recommended to use on a daily period or lower). This way the indicator reflects the highest point and the lowest point of the day (can be modified to have a longer range of pivot days even if I recommend to stay on 1 day for day trading).
Support / Resistance :
The Support / Resistance is generally used for trend analysis too. The Support / Resistance are found by searching local high and lows. The longer the supports and resistance are, the strongest it can be considered. In this script, the Highs / Lows are computed by default on a lower time frame (usually 3-4 times lower). For example on a 15 minute graph, the Highs / Lows will be computed on the 5 minute graph (can be modified if the displayed result is not optimized for your asset).
How to use this set of tools :
I personally recommend to use this tool at the start of your day of trading. This way you will get a clear vision of the daily situation and try to identify key prices and the trend for the current day. I then suggest to set up an alert on the key price to be notified when you're getting close to it.
BBofVWAP with entry at Pivot PointThis strategy uses BB of VWAP and Pivot point to enter and exit the Long position.
settings
BB length 50
BB Source VWAP
Entry
When VWAP crossing up BB midline and price/close is above weekly PivotPoint ( you can also use Daily pivot point )
Exit
When VWAP is crossing down BB lower band
Stop Loss
Stop loss defaulted to 5%
Note : Long will position will be exited on either VWAP crossing down BB lower band or stop loss is hit - whichever comes first . Being said that some time your stop loss exit is less than 5% which saves from more losses.
Entry is based on weekly Pivot point , so any time frame below weekly will work perfect. I have tested t on 30 min , 1 HR , 4 Hr , Daily charts. Even weekly setting shows good results , that will work for long term investing style.
if you change Pivot period to Daily , chose time frames below Daily.
I also noticed this strategy mostly do not enter Long position in a down trend. Even it finds one , it will be exited with minimal loss.
Warning
For the use of educational purposes only
[blackcat] L2 VWAP CCI Trading SystemLevel: 2
Background
Volume-Weighted Average Price (VWAP) is a trading benchmark used by traders that indicates the average price that a security has traded for throughout the day based on volume and price. This is important as it gives traders insight into the trend and value of a security.
The Commodity Channel Index (CCI) indicator was created to identify bullish and bearish market cycles, as well as to define market turning points and the strongest and weakest market periods. CCI was developed for commodities and quickly found application in other markets, including forex.
Function
blackcat L2 VWAP CCI Trading System is an innovative indicator that combines vwap and cci indicator together. Not only long and short entries can be disclosed, but also the overbought and oversold zones are clearly observed.
Key Signal
cci ---> vwap cci indicator output
long --> long entry condition
short --> short entry condition
backtest --> indicator backtest scheme "NLX-L3 Backtest" required input source for strategy backtest
longentry --> visual long entry
shortentry --> visual short entry
Pros and Cons
Pros:
1. exact long and short entries are produced by overbought and oversold conditions
2. support "NLX-L3 Backtest" framework
Cons:
1. noise may be produced under extreme market condition
2. due to this is un-optimized version, time frame and trading pairs need to be selected
Remarks
Courtesy of @nilux "NLX-L3 Backtest" easy backtest framework for dummies.
Step by step backtest guide with "NLX-L3 Backtest" framework:
STEP1: Add this indicator into your chart
STEP2: Add "NLX-L3 Backtest" into your chart
STEP3: Click "Settings" gear icon of "NLX-L3 Backtest" to select "Select L2 Indicator" in the 1st line as "blackcat L2 VWAP CCI Trading System: backtest"
STEP4: Configure your backtest other settings under "NLX-L3 Backtest" framework
STEP5: Click "OK" and view the results in "Strategy Tester" tab
Readme
In real life, I am a prolific inventor. I have successfully applied for more than 60 international and regional patents in the past 12 years. But in the past two years or so, I have tried to transfer my creativity to the development of trading strategies. Tradingview is the ideal platform for me. I am selecting and contributing some of the hundreds of scripts to publish in Tradingview community. Welcome everyone to interact with me to discuss these interesting pine scripts.
The scripts posted are categorized into 5 levels according to my efforts or manhours put into these works.
Level 1 : interesting script snippets or distinctive improvement from classic indicators or strategy. Level 1 scripts can usually appear in more complex indicators as a function module or element.
Level 2 : composite indicator/strategy. By selecting or combining several independent or dependent functions or sub indicators in proper way, the composite script exhibits a resonance phenomenon which can filter out noise or fake trading signal to enhance trading confidence level.
Level 3 : comprehensive indicator/strategy. They are simple trading systems based on my strategies. They are commonly containing several or all of entry signal, close signal, stop loss, take profit, re-entry, risk management, and position sizing techniques. Even some interesting fundamental and mass psychological aspects are incorporated.
Level 4 : script snippets or functions that do not disclose source code. Interesting element that can reveal market laws and work as raw material for indicators and strategies. If you find Level 1~2 scripts are helpful, Level 4 is a private version that took me far more efforts to develop.
Level 5 : indicator/strategy that do not disclose source code. private version of Level 3 script with my accumulated script processing skills or a large number of custom functions. I had a private function library built in past two years. Level 5 scripts use many of them to achieve private trading strategy.
