VWAP Suite

23 thg 6, 2022

█ OVERVIEW

This indicator is an attempt to bring all VWAP functionalities under one umbrella suite, the existing VWAPs are great and this was made to provide all functionalities. (pending more updates as well)

█ FEATURES

Multiple VWAPs MTF
Individual Band configuration
Previous vwap closes
Date tracking of previous closes


MTF Options
Enabling the other VWAPS with any timeframe will allow the user to use the "VWAP Anchor" setting to choose what HTF Vwap to be displayed

"Prev Close"
This setting enables all historical closes to be displayed with extension

"Track Dates"
Can be used to keep date information of 2 previous closes and further back


█ HOW TO USE IT

The indicator is quite straight forward in its application, as you would expect of a normal VWAP.
At the top of the settings pane the indicator has some functionality that would control the VWAPs globally, e.g. disabling show bands disables all bands for all the VWAPs.
Each VWAP has individual settings that can be controlled such as coloring, which bands enabled, previous closes, labelling...

█ SUGGESTION

My suggestion for clarity is to use 1 VWAP with bands, and a 2nd with no bands + Previous close enabled at a higher timeframe

█ LIMITATIONS OF PINE (Please read)

I see many users going on different indicators with MTF in mind and trying to use it for LTF data e.g. 1hour chart, and selecting 5min in chart settings.
This is not recommended by the team themselves and should be noted for use always use HTF: tradingview.com/pine-script-docs/en/v4/essential/Context_switching_the_security_function.html

To understand how to use VWAP please refer to some education that can be found for free online
Heres an example of a trader using the tool himself: https://www.youtube.com/watch?v=AaclrgNyQ08

█ Future Updates:

Previous Close Line extensions
Previous Highs and Lows of VWAP mapped out for users
Suggestions Welcome!

23 thg 6, 2022

Phát hành các Ghi chú

"Label color fix"