VWAP Fibonacci Bands (Zeiierman)█ Overview
The VWAP Fibonacci Bands is a sophisticated yet user-friendly indicator designed to assist traders in visualizing market trends, volatility, and potential support/resistance levels. Developed by Zeiierman, this tool integrates the MIDAS (Market Interpretation Data Analysis System) methodology with Standard Deviation Bands and user-defined Fibonacci levels to provide a comprehensive market analysis framework.
This indicator is built for traders who want a dynamic and customizable approach to understanding market movements, offering features that adapt to varying market conditions. Whether you're a scalper, swing trader, or long-term investor.
█ How It Works
⚪ Anchor Point System
The indicator begins its calculations based on an anchor point, which can be set to:
A specific date for historical analysis or alignment with significant market events.
A timeframe-based reset, dynamically restarting calculations at the beginning of each selected period (e.g., daily, weekly, or monthly).
This dual-anchor method ensures flexibility, allowing the indicator to align with various trading strategies.
⚪ MIDAS Calculation
The MIDAS calculation is central to this indicator. It uses cumulative price and volume data to compute a volume-weighted average price (VWAP), offering a trendline that reflects the true value weighted by trading activity.
⚪ Standard Deviation Bands
The upper and lower bands are calculated using the standard deviation of price movements around the MIDAS line.
⚪ Fibonacci Levels
User-defined Fibonacci ratios are used to plot additional support and resistance levels between the bands. These levels provide visual cues for potential price reversals or trend continuations.
█ How to Use
⚪ Trend Identification
Uptrend: The price remains above the MIDAS line.
Downtrend: The price stays below the MIDAS line and aligns with the lower bands.
⚪ Support and Resistance
The upper and lower bands act as support and resistance levels.
Fibonacci levels provide intermediate zones for potential price reversals.
⚪ Volatility Analysis
Wider bands indicate periods of high volatility.
Narrower bands suggest low-volatility conditions, often preceding breakouts.
⚪ Overbought/Oversold Conditions
Look for the price beyond the upper or lower bands to identify extreme conditions.
█ Settings
Set Anchor Method
Anchor Method: Choose between Timeframe or Date to define the starting point of calculations.
Anchor Timeframe: For Timeframe mode, specify the interval (e.g., Daily, Weekly).
Anchor Date: For Date mode, set the exact starting date for historical alignment.
Set Std Dev Multiplier
Controls the width of the bands:
Higher values widen the bands, filtering out minor fluctuations.
Lower values tighten the bands for more responsive analysis.
Set Fibonacci Levels
Define custom Fibonacci ratios (e.g., 0.236, 0.382) to plot intermediate levels between the bands.
█ Tips for Fine-Tuning
⚪ For Trend Trading:
Use higher Std Dev Multipliers to focus on long-term trends and avoid noise. Adjust Anchor Timeframe to Weekly or Monthly for broader trend analysis.
⚪ For Reversal Trading:
Tighten the bands with a lower Std Dev Multiplier.
Use shorter anchor timeframes for intraday reversals (e.g., Hourly).
⚪ For Volatile Markets:
Increase the Std Dev Multiplier to accommodate wider price swings.
⚪ For Quiet Markets:
Decrease the Std Dev Multiplier to highlight smaller fluctuations.
-----------------
Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
Vwapmultitimeframe
VWAP with RSIVWAP with RSI Indicator
Overview
The VWAP with RSI Indicator is a powerful tool that combines the Volume Weighted Average Price (VWAP) with the Relative Strength Index (RSI) to provide traders with comprehensive insights into price trends, volume-weighted price levels, and market momentum. This dual-indicator setup enhances your trading strategy by offering a clearer understanding of the market conditions, potential entry and exit points, and trend reversals.
Key Features
VWAP (Volume Weighted Average Price):
Calculation: The VWAP is calculated using the high, low, and close prices, weighted by trading volume over a specified period.
Purpose: VWAP provides an average price that reflects the trading volume at different price levels, helping traders identify the true average price over a given period.
Visualization: The VWAP line is plotted in blue on the price chart, indicating the volume-weighted average price.
RSI (Relative Strength Index):
Calculation: RSI is based on the average gains and losses over a specified period (default is 14 periods) and ranges from 0 to 100.
Purpose: RSI measures the speed and change of price movements, identifying overbought or oversold conditions in the market.
Overbought/Oversold Levels:
Overbought: RSI above 70 (red line).
Oversold: RSI below 30 (green line).
Midline: RSI at 50 (gray dashed line).
Visualization: The RSI line changes color based on its value (purple for normal, red for overbought, green for oversold) and is plotted below the price chart.
Background Fill for RSI:
Overbought Area: Shaded red when RSI is above 70.
Oversold Area: Shaded green when RSI is below 30.
Bullish and Bearish Divergence Detection:
Bullish Divergence: Occurs when price forms a lower low, but RSI forms a higher low, indicating potential upward reversal.
Visualization: Bullish divergence points are marked with a green line and labeled "Bull."
Bearish Divergence: Occurs when price forms a higher high, but RSI forms a lower high, indicating potential downward reversal.
Visualization: Bearish divergence points are marked with a red line and labeled "Bear."
Alerts: Conditions for bullish and bearish divergences trigger alerts.
Settings
VWAP Settings:
hideonDWM: Option to hide VWAP on daily or higher timeframes.
src: Source for VWAP calculation (default is hlc3 - (high + low + close)/3).
offset: Offset for plotting the VWAP.
RSI Settings:
rsiLengthInput: Period length for RSI calculation (default is 14).
rsiSourceInput: Source for RSI calculation (default is close price).
maTypeInput: Type of moving average applied to RSI (options: SMA, EMA).
maLengthInput: Length of the moving average applied to RSI.
How to Use
Trend Identification: Use VWAP to identify the average price level and market trend. If the price is above VWAP, it suggests an uptrend, and if below, it suggests a downtrend.
Overbought/Oversold Conditions: Use RSI to identify potential reversal points. RSI above 70 indicates overbought conditions, and below 30 indicates oversold conditions.
Divergence: Look for bullish or bearish divergences between price and RSI to anticipate potential trend reversals.
Conclusion
By combining VWAP and RSI, this indicator provides a robust framework for analyzing market conditions, identifying trends, and making more informed trading decisions. Enhance your trading strategy today with the VWAP with RSI Indicator!
VWAP LEVELS [PRO]32 VWAP levels with labels and a table to help you identify quickly where current price is in relation to your favorite VWAP pivot levels. To help reduce cognitive load, 4 colors are used to show you where price is in relation to a VWAP level as well as the strength of that respective level. Ultimately, VWAP can be an invaluable source of support and resistance; in other words you'll often see price bounce off of a level (whether price is increasing or decreasing) once or multiple times and that could be an indication of a price's direction. Another way that you could utilize this indicator is to use it in confluence with other popular signals, such as an EMA crossover. Many traders will wait till a bar's close on the 5m or 10m time frame above a VWAP level (developing 1D VWAP would be a popular choice) before making a decision on a potential trade especially if price is rising above the 1D VWAP *and* there's been a recent 100 EMA cross UP of the 200 EMA. These are 2 bullish signals that you could look for before possibly entering in to a trade.
I've made this indicator extremely customizable:
⚡Each VWAP level has 2 labels: 1 "at level" and 1 "at right", each label and price can be disabled
⚡Each VWAP label has its own input for label padding. The "at right" label padding input allows you to zoom in and out of a chart without the labels moving along their respective axis. However, the "at level" label padding input doesn't work the same way once you move the label out of the "0" input. The label will move slightly when you zoom in and out
⚡Both "current" and "previous" VWAP levels have their own plot style that can be changed from circles, crosses and lines
⚡Significant figures input allows you to round a price up or down
⚡A price line that allows you to identify where price is in relation to a VWAP level
⚡A table that's color coded the same way as the labels. The labels and table cells change to 1 of 4 colors when "OC Check Mode" is enabled. This theory examines if the VWAP from the Open is above or below the VWAP from Close and if price is above or below normal VWAP (HLC3). This way we have 4 states:
Red = Strong Downtrend
Light Red = Weak Downtrend
Light = Weak Uptrend
Green = Strong Uptrend
Something to keep in mind: At the start of a new year, week or month, some levels will converge and they'll eventually diverge slowly or quickly depending on the level and/or time frame. You could add a few labels "at level" to show which levels are converging at the time. Since we're at the beginning of a new year, you'll see current month, 2 month, 3 month etc converge in to one level.
🙏Thanks to (c)MartinWeb for the inspiration behind this indicator.
🙏Thanks to (c)SimpleCryptoLife for the libraries and code to help create the labels.
VWAP and previous VWAP for Support & Resistance for D W MI overhauled my old multi timeframe VWAP script to make the VWAP OC-Check work for all timeframes. Now only one function is used to calculate the 3 preset VWAPs.
Previous VWAPS = the price where the last session closed sometimes work as Support and Resistance.
The OC-Check Mode theory examines if the VWAP from the Open is above or below the VWAP from Close
and if price is above or below normal VWAP (HLC3).
This way we have 4 states:
Red = Strong Downtrend
Orange = Weak Downtrend
Blue = Weak Uptrend
Green = Strong Uptrend
As always it is just a theory - nothing is set in stone regarding any indicator.
VWAP Stdev Bands Multi Time Frame SBTCProviding a useful update to Vwap STDEV bands, including multi timeframe functionality. Shown above is monthly VWAP Stdev Bands.
