VWAP Stdev Bands v2This is an update to my original VWAP Stdev Bands indicator found here:
* Fixed the calculation of the opening bar
* Added two additional deviation bands
* Added horizontal line of previous VWAP close
This update adds support for two more sets of bands, allowing you to show 1st, 2nd, and 3rd deviations. These extra bands are disabled by default as to not crowd the chart, but are shown in the screenshot and can be enabled under the indicator settings. The numbers 3.09 and 1.28 were recommended by coondawg71 in a comment on the original version. The previous version started calculating VWAP on a change of day, instead of a change of session. It now correctly calculates the VWAP when a new session begins. The last addition allows you to plot the previous day's VWAP close. The VWAP is where price has found balance, which makes these levels significant among the noise.
Thanks to coondawg71 for all suggestions.
Volume Weighted Average Price (VWAP)
POC bands 2.0 and other assorted goodiesI updated my old indicator that plotted a Kalman filter avg. of the bars inside a higher timeframe bar, to attempt to find the most frequent price in that bar's timespan.
It ended up being somewhat close, but not exact, but the result is that you get a pseudo-vwap without a need for volume data, that isn't cumulative and can indicate trend direction, or if the market's ranging.
This is very powerful information!
I highlight a trade setup we get here, derived from observing the indicator's slope and knowing how to read price action, assisted by rgmov and cci readings.
To get the code for the other indicator's you will have to click on share, and then on 'Make it mine' so you get the whole layout.
Good luck and hope you find these of use.
Cheers,
Ivan.
MAC-Z VWAP Indicator [LazyBear]This a modified MAC-Z using Z-VWAP. Since this uses VWAP, the signals are derived indirectly from both volume and price action.
I have also included a way to smooth MACZ-VWAP, you can enable it via options page.
Note that this will not work on any FX pair, as volume is not available.
Referenced indicators:
Z-distance from VWAP:
MAC-Z Indicator:
Z-Score:
Complete list of my indicators:
GDoc: docs.google.com
Chart:
Z distance from VWAP [LazyBear]This calculates normal distance of price from VWAP. This is a mean reverting idea (something like ZScore), but using both "volume" and "close".
Useful for finding OB/OS areas and potential turning points.
Complete list of my indicators:
