Introduction Heyo, here are some adaptive VWAP Standard Deviation Bands with nice colors. I used Ehlers dominant cycle theories and ZLSMA smoothing to create this indicator. You can choose between different algorithms to determine the dominant cycle and this will be used as reset period. Everytime bar_index can be divided through the dominant cycle length and the result is zero VWAP resets if have chosen an adaptive mode in the settings. The other reset event you can use is just a simple time-based event, e.g. reset every day.
Usage I think people buy/sell when it reaches extreme zones.
I took parts of their code. Ty guys for your work! Just awesome.
Phát hành các Ghi chú
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Updated default values Added cycle divider Removed the option to show previous VWAP Fixed that min length was not applied on a specific adaptive length algorithm Fixed wrong smoothing method in tooltip description of "isSmoothingEnabled" Added trading signal labels
This is an awesome indicator. Led me down a rabbit hole of ehler's cycle theories, wave transforms etc. Most of it went over my head :D Thank you for this.
simwai
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@somname, I felt the same man when I heard Ehlers the first time. That guy is awesome. Check out his MESA papers! 👍
Simwai, what is the best Reset Time Frame and Rest Mode for your indicator?
simwai
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Sry guys, made a mistake in my description. I mean everytime when bar_index can be divided through cyle period and there is no rest then it resets. I use the modulo operator there.
Thank you for this.