VWAP Oscillator (Normalised)

Thanks:
Thanks to upslidedown for his VWAP Oscillator that served as the inspiration for this normalised version.


Core Aspects:

• The script calculates the VWAP by considering both volume and price data, offering a comprehensive view of market activity.
  
• Uses an adaptive normalization function to balance the data, ensuring that the VWAP reflects current market conditions accurately.
  
• The oscillator includes customizable settings such as VWAP source, lookback period, and buffer percentage.
  
• Provides a clear visual representation of market trends.
  

Usage Summary:

• Detect divergences between price and oscillator for potential trend reversals.
  
• Assess market momentum with oscillator’s position relative to the zero line.
  
• Identify overbought and oversold conditions to anticipate market corrections.
  
• Use volume-confirmed signals for enhanced reliability in trend strength assessments.
  

Notas de Lançamento:

Corrected thanks in the comments.
Made indicator and time frame visible in the chart preview for compliance with pinecoders agreement.

Notas de Lançamento:

Added an additional Up-Down Volume Profile overlay. Thanks to the trading view team for their Up/Down Volume Indicator.

Added an alternative normalisation method for the VWAP Oscillator designed to be more responsive to local trends:

• MA-StdDev for short-term price movements and volatility
  
• Adaptive for analysing longer-term trends
  
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