Multi time-range VWAP with Multiple condition alerts - version 2.0 - by Viral Killer
This is a script that contains 3 VWAP modes, 5 min, 60 min and 240 min timeframes, all on the same indicator. You add it to the 5 min chart, but seems to work on other ranges.
Usually, when the VWAP wave crosses above, it is a buy signal, although not perfect. This ensures there is also a MAC-D buy confirmation, for a much stronger buy signal.
You can setup SUPER alerts which ensure multiple time ranges line up, before alerting. Some are already built in.
Yellow Wave is 5 min VWAP , crossing from below into positive is a buy signal. Note the word signal, not guaranteed buy.
Orange Wave is 60 min VWAP , crossing from below into positive is a buy signal.
Purple Wave is 240 min VWAP , crossing from below into positive is a buy signal.
The blue wave is 5 the minutes RSI and the other lines are 1h/4h, corresponding to oversold and overbought signals.
U will see a trail of red and blue arrows on the MAC-D, this script knows when the MAC-D is losing power.
Green dots are a buy, dark dots are a sell. Green with orange rim is a weak buy.
If you see 2 or 3 green dots from different time frames very close together, that is a much stronger buy signal. If the MAC-D also agrees, well, it is very strong. This is shown as blue circle white arrow up.
Exit when you see a red cross or red arrow down, RSI overbought and MAC-D crossing down respectively.
You can use multi condition alerts, i.e. alert me to a STRONG BUY when 5 min VWAP crossed above while the 60 min is positive too, aaaand the MAC-D agrees.
Enjoy.
-Viral Killer