Providing a useful update to Vwap STDEV bands, including multi timeframe functionality. Shown above is monthly VWAP Stdev Bands.
I made a Fibo variant of my first script "VWAPs + devs" : This new indicator give you the possibility to plot multi timeframes VWAP (D, W, M, 3M and 12M ) and Fibo deviations for each one. VWAP is a powerfull indicator which is used by big players to get informations if the price is "overbought" or "oversold". Deviations give the opportunity to have supports...
VWAP is a powerful concept. It denotes the fair price that is traded in the market. In other words, it represents a variance of POINT OF CONTROL (POC) which is a Market Profile / Volume Profile Concept. It is a leading indicator as it is dependent on the price and volume . Usually VWAP is used for intraday trades and Trading view as an in built indicator...