VWAP and previous VWAP for Support & Resistance for D W M

I overhauled my old multi timeframe VWAP script to make the VWAP OC-Check work for all timeframes. Now only one function is used to calculate the 3 preset VWAPs.

Previous VWAPS = the price where the last session closed sometimes work as Support and Resistance.

The OC-Check Mode theory examines if the VWAP from the Open is above or below the VWAP from Close
and if price is above or below normal VWAP (HLC3).

This way we have 4 states:
Red = Strong Downtrend
Orange = Weak Downtrend
Blue = Weak Uptrend
Green = Strong Uptrend

As always it is just a theory - nothing is set in stone regarding any indicator.

Notas de Lançamento

Updated the description, changed the preset and removed a drawing from the chart.

Notas de Lançamento

Fixed the title.

Notas de Lançamento

Fix for linestyle and settings grouping order.

Notas de Lançamento

Title update.

Script de código aberto

Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.

MartinWeb

Aviso legal

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Script de código aberto

MartinWeb