VWAP + Multi-Condition RSI Signals + Fibonacci

15 thg 10

Platform / System

Platform: TradingView

Language: Pine Script® v6

Purpose: This script is an overlay indicator for technical analysis on charts. It combines multiple tools: VWAP, RSI signals, and Fibonacci levels.

1️⃣ VWAP (Volume Weighted Average Price)

What it does:

• Plots the VWAP line on the chart, which is a weighted average price based on volume.
  
• Can be anchored to different periods: Session, Week, Month, Quarter, Year, Decade, Century, or corporate events like Earnings, Dividends, Splits.
  
• Optionally plots bands above and below VWAP based on standard deviation or a percentage.
  
• Supports up to 3 bands with customizable multipliers.
  
• Will not display if the timeframe is daily or higher and the hideonDWM option is enabled.
  
• Visual on chart: A main VWAP line with optional shaded bands.
  

2️⃣ RSI (Relative Strength Index) Signals

What it does:

• Calculates RSI with a configurable period.
  
• Identifies overbought and oversold zones using user-defined levels.
  
• Generates buy/sell signals based on:
  
• RSI crossing above oversold → Buy
  
• RSI crossing below overbought → Sell
  
• Detects strong signals using divergences:
  
• Bullish divergence: Price makes lower low, RSI makes higher low → Strong Buy
  
• Bearish divergence: Price makes higher high, RSI makes lower high → Strong Sell
  
• Optional momentum signals when RSI crosses 50 after recent overbought/oversold conditions.
  
• Visual on chart:
  
• Triangles for buy/sell
  
• Different color triangles/circles for strong and momentum signals
  
• Background shading in RSI overbought/oversold zones
  
• Alerts: The script can trigger alerts when any of these signals occur.
  

3️⃣ Fibonacci Levels

What it does:

• Calculates Fibonacci retracement and extension levels based on the highest high and lowest low over a configurable lookback period.
  
• Plots standard Fibonacci levels: 0.146, 0.236, 0.382, 0.5, 0.618, 0.786, 1.0
  
• Plots extension levels: 1.272, 1.618, 2.0, 2.618
  
• Helps identify potential support/resistance zones.
  
• Visual on chart: Horizontal lines at each Fibonacci level, shaded with different transparencies.
  

Summary

This script is essentially a multi-tool trading indicator that combines:

1. VWAP with dynamic bands for trend analysis and price positioning
   
3. RSI signals with divergences for entry/exit points
   
5. Fibonacci retracement and extension levels for support/resistance
   

It is interactive and visual, providing both chart overlays and alert functionality for active trading strategies.

This code is provided for training and educational purposes only. It is not financial advice and should not be used for live trading without proper testing and professional guidance.

15 thg 10

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