PROTECTED SOURCE SCRIPT
VWAP Anomaly V1
Updated
I made some late reading yesterday and discovered the importance of the VWAP indicator, above all the idea that when the current price exits it it will always bounce back. Therefore I decided to build an indicator which detects when the current price escapes the VWAP margin. The indicator shows this three things:
1) When the current price exits the VWAP margin.
2) The strength of a VWAP trend
3) VWAP bounce point (Blue dots which can be used as support or resistance)
By using the VWAP Anomaly V1 indicator, you can know if you find yourself in a reversal zone, and get a great entry point. Please, do have in mind no indicator is perfect, by using other indicator with the VWAP Anomaly Indicator your chances of success increase by a significant level. NOTE: Follow my predictions under your own risk
1) When the current price exits the VWAP margin.
2) The strength of a VWAP trend
3) VWAP bounce point (Blue dots which can be used as support or resistance)
By using the VWAP Anomaly V1 indicator, you can know if you find yourself in a reversal zone, and get a great entry point. Please, do have in mind no indicator is perfect, by using other indicator with the VWAP Anomaly Indicator your chances of success increase by a significant level. NOTE: Follow my predictions under your own risk
Release Notes
MTF now included!Release Notes
*Minor bug fixed. Release Notes
IMPORTANT UPDATE:----------------------------------------------------------------------------------------------------
MTF makes the indicator useless. Indicator only works for scalping (which was the original reason I created it). You can only use it on 3 minutes or 5 minutes. Thank you
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.