OPEN-SOURCE SCRIPT
Dynamic VWAP Levels (V1.0)
The script calculates bands around the VWAP (Volume Weighted Average Price) using the Average True Range (ATR) to adjust the levels according to market reality. Buy and sell signals are generated when the price crosses these bands.
Customizable Parameters SmoothingLength (SmoothLength): The period used to smooth the levels. A higher value results in smoother bands that are less susceptible to rapid fluctuations.
Use EMA for smoothing?: Selects between using the Exponential Moving Average (EMA) or the Simple Moving Average (SMA) for smoothing.
ATR Length: The period used to calculate the ATR, which determines the frequency.
ATR Multiplier: A multiplier that adjusts the amplitude of the bands around the VWAP.
How the Script Works Calculating VWAP and Bands: The VWAP is calculated to obtain the volume weighted average price.
Bands are created around the VWAP by adding or subtracting a fraction of the ATR to account for the current market variation.
Smoothing Application: Price levels are smoothed to reduce market noise, allowing for better visualization of trends.
Signal Generation: Buy Signal: Generated when price crosses upwards the smoothed lower band (default dp7_smooth).
Sell Signal: Generated when price crosses downwards the smoothed upper band (default dp1_smooth).
Customizable Parameters SmoothingLength (SmoothLength): The period used to smooth the levels. A higher value results in smoother bands that are less susceptible to rapid fluctuations.
Use EMA for smoothing?: Selects between using the Exponential Moving Average (EMA) or the Simple Moving Average (SMA) for smoothing.
ATR Length: The period used to calculate the ATR, which determines the frequency.
ATR Multiplier: A multiplier that adjusts the amplitude of the bands around the VWAP.
How the Script Works Calculating VWAP and Bands: The VWAP is calculated to obtain the volume weighted average price.
Bands are created around the VWAP by adding or subtracting a fraction of the ATR to account for the current market variation.
Smoothing Application: Price levels are smoothed to reduce market noise, allowing for better visualization of trends.
Signal Generation: Buy Signal: Generated when price crosses upwards the smoothed lower band (default dp7_smooth).
Sell Signal: Generated when price crosses downwards the smoothed upper band (default dp1_smooth).
Script de código aberto
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Script de código aberto
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.