OPEN-SOURCE SCRIPT
Volume Weighted Average Range Bands [DW]
This is an experimental study designed to identify the underlying trend bias and volatility of an instrument over any custom interval TradingView supports.
First, reset points are established at points where the opening price of the interval changes.
Next, Volume Weighted Average Price (VWAP) is calculated. It is the cumulative sum of typical price times volume divided by the cumulative volume. The cumulation starts over upon each reset point.
After that, Volume Weighted Average Range (VWAR) is calculated. The formula structure is the same as VWAP, except using range rather than typical price.
Lastly, the bands are calculated by multiplying the VWAR by the specified multiplier (approximate Golden Ratio by default) and by 1 through 5, then adding to and subtracting from the VWAP.
Custom Bar Colors are included.
First, reset points are established at points where the opening price of the interval changes.
Next, Volume Weighted Average Price (VWAP) is calculated. It is the cumulative sum of typical price times volume divided by the cumulative volume. The cumulation starts over upon each reset point.
After that, Volume Weighted Average Range (VWAR) is calculated. The formula structure is the same as VWAP, except using range rather than typical price.
Lastly, the bands are calculated by multiplying the VWAR by the specified multiplier (approximate Golden Ratio by default) and by 1 through 5, then adding to and subtracting from the VWAP.
Custom Bar Colors are included.
For my full list of premium tools, check the blog:
wallanalytics.com/
Reach out on Telegram:
t.me/DonovanWall
wallanalytics.com/
Reach out on Telegram:
t.me/DonovanWall
Script de código aberto
No verdadeiro espírito do TradingView, o autor desse script o publicou como código aberto, para que os traders possam compreendê-lo e analisá-lo. Parabéns ao autor! Você pode usá-lo gratuitamente, mas a reutilização desse código em publicações é regida pelas Regras da Casa. Você pode favoritá-lo para usá-lo em um gráfico.
Quer usar esse script no gráfico?
For my full list of premium tools, check the blog:
wallanalytics.com/
Reach out on Telegram:
t.me/DonovanWall
wallanalytics.com/
Reach out on Telegram:
t.me/DonovanWall
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.