OPEN-SOURCE SCRIPT
MACD VWAP Indicator
This indicator uses a combination of the VWAP, EMA 9 and parts of the MACD in order to detect a bullish or bearish trend.
How to trade it:
Important:
Best traded in 15M, 30M => Intraday.
Have fun! :)
How to trade it:
- Set SL either below or above the VWAP line (orange) and TP to 1:1.5 ratio (depending on last few candles, of course).
- If EMA200 is close by then place SL either below or above EMA200 (blue) and TP to 1:1.5 ratio
Important:
Best traded in 15M, 30M => Intraday.
Have fun! :)
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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.