VWOP: Volume Weighted & Oscillated PriceWhile playing around with the standard "ta.vwap" I wondered why there was no length input, so I did some research on what the underlying calculation actually is, and did my best to augment it so as to allow for a variable length based on an oscillator value.
Normal VWAP = (Number of Shares Bought x Typical Price) / Total Volume
In my VWOP Calculation, typical price is replaced by selected moving average type or "matype" and then multiplied by the volume.
Then a total value is calculated using math.sum with a length value that changes according to a selected oscillator's value. The total is then divided by
the sum of just volume using the same oscillating length value. Result is then passed through the selected"matype" once more to give the final result.
Indicator designed for use as a entry/exit indicator in conjunction with more traditional moving averages and/or signal filters. Useful for taking volume + an oscillator into account along with price, instead of just the price as with a simple moving average.
Movingaverageoscillator
Moving Averages Proximity Oscillator [LuxAlgo]This indicator returns the percentage or count of prices greater than simple moving averages with periods in a user set range, as well as the moving average period that is the closest to price values.
Settings
Minimum Length: Minimum SMA period
Maximum Length: Maximum SMA period
Smooth: Control the degree of smoothness of the indicator outputs
Normalized: Normalize the indicator outputs in a range (0, 100)
Src: Input source of the indicator
Usage
The indicator returns two outputs.
The "Price Above MA's" output returns for a current price value the number of times this one is greater than simple moving averages with periods ranging from Minimum Length to Maximum Length . This oscillator can be expressed as a percentage if Normalized is selected.
This oscillator allows identifying the direction of an underlying trend in the price. Higher Minimum Length and Maximum Length settings will return indications regarding longer term price variations, while shorter ranges will return less detailed outputs. This can be seen in the chart above where Minimum Length = 80 to Maximum Length = 100 .
The "Proximity Index" output on the other end does not return information regarding the direction of an underlying trend but the period of the simple moving average with periods ranging from Minimum Length to Maximum Length that is the closest to the current price value.
For various simple moving averages of differing periods, we can see that SMA's with shorter periods will tend to stay closer to the price, when price start reverting it will reach higher periods moving averages.
As such, this second indicator output can help identify the start of new trends, with higher values indicating price is reverting toward longer-term moving averages, suggesting a new trend forming.
[blackcat] L2 Moving Average OscillatorLevel: 2
Background
OsMA is an abbreviation for the term Moving Average Oscillator (MAO). The OsMA is a technical indicator that shows the difference between an oscillator and its moving average over a period of time. The MACD is the most commonly used oscillator in the OsMA display, although any oscillator can be used. The MACD has a built-in moving average, which is the signal line. The signal line is an intersection of the MACD line. The OsMA is the difference or the distance between these two lines, which are usually drawn as a histogram. It can provide both a trend confirmation and possible trading signals.
Function
L2 Moving Average Oscillator combines advantages of moving average and oscillator. It can effectively reduce statruation effect of an oscillator under extreme market conditions.
Key Signal
fastline --> MAO fast line
slowline --> MAO slow line
trendline --> more stable trend line of fastline
Pros and Cons
Pros:
1. filter out oscillator fake signal with moving average processing
2. it is an oscillator that can detect overbought and oversold zones effectively
Cons:
1. need to select proper trading pair and time frame
Remarks
My first MAO indicator
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.
