WVPO Spring-AVWAP-Slope
WHAT IT DOES
This indicator anchors a VWAP at a swing low, classifies the slope of the line as rising, flat or falling, and reads at the same time whether price sits above it, below it, or keeps crossing it. It is a diagnostic for one named hallmark of a Wyckoff Spring, not an entry tool.
WHY THE TWO READINGS BELONG TOGETHER
A Spring is a break below support that fails to attract follow-through selling. If it was genuine, the average cost of everyone who bought from the low climbs, and price holds above it. If not, the line goes flat or turns down, and price keeps falling back through it. A rising line that price drops through is not support, and price above a line that goes nowhere proves nothing. The verdict is the AND of both.
HOW THIS DIFFERS FROM A PLAIN ANCHORED VWAP
First, it classifies the slope instead of drawing it, in ATR units over a lookback window, so the reading is comparable across instruments and timeframes. Second, it records how the line has been treated since the anchor: share of closes above, current run of closes below, crossings inside a window. Third, it anchors by hand or on the latest confirmed pivot low and states the confirmation delay instead of hiding it.
HOW TO READ IT
The line carries its classification as color. The table adds the slope and the distance of price in ATR, the share of closes above, the crossings and the verdict for hallmark 5 (the table row reads Characteristic 5). Three alert conditions are built in: profile changed, verdict lost, consecutive closes below the line. Choose "Once Per Bar Close" when you create an alert.
WHAT IT DOES NOT DO
No entries, no exits, no targets, no win rates. It reads one hallmark out of five. The other four are not in here and could not be: documented phases A and B with the Spring as the phase C event; supply drying up at the low, or a quiet test after a shakeout; agreement across the order flow windows; a quick return above the edge with higher lows on the trigger timeframe. They need order flow, a volume profile and a judgment call.
LIMITATIONS
It measures price against the line itself, not against a zone of 0.3 x ATR(20) around it. Without a volume series the line stays empty, on purpose: line, slope and price read n/a, profile and verdict read too early, and closes above read 0 %. The slope threshold is a starting value to calibrate per instrument and timeframe. On continuous futures, roll gaps distort long-held anchors. The slope flattens as the anchor ages, by design: the tool reads the weeks after the event, not the year after it.
WORKED EXAMPLE
NASDAQ:NDX, daily, source HLC3, manual anchor on 22 Nov 2021, rest default: an inverted case, deliberately not a Spring. Through 2022 the verdict stays not met; price reads below, except for the false reclaims of late March and April 2022 (above, then oscillating). At the end of March 2023 price flips above (30 Mar: line near 12,904, close 12,963), and the verdict stays not met because the slope reads flat. Line levels can differ by a few points with the volume of your data feed.
For education only, not investment advice. Trading involves the risk of loss.
This indicator anchors a VWAP at a swing low, classifies the slope of the line as rising, flat or falling, and reads at the same time whether price sits above it, below it, or keeps crossing it. It is a diagnostic for one named hallmark of a Wyckoff Spring, not an entry tool.
WHY THE TWO READINGS BELONG TOGETHER
A Spring is a break below support that fails to attract follow-through selling. If it was genuine, the average cost of everyone who bought from the low climbs, and price holds above it. If not, the line goes flat or turns down, and price keeps falling back through it. A rising line that price drops through is not support, and price above a line that goes nowhere proves nothing. The verdict is the AND of both.
HOW THIS DIFFERS FROM A PLAIN ANCHORED VWAP
First, it classifies the slope instead of drawing it, in ATR units over a lookback window, so the reading is comparable across instruments and timeframes. Second, it records how the line has been treated since the anchor: share of closes above, current run of closes below, crossings inside a window. Third, it anchors by hand or on the latest confirmed pivot low and states the confirmation delay instead of hiding it.
HOW TO READ IT
The line carries its classification as color. The table adds the slope and the distance of price in ATR, the share of closes above, the crossings and the verdict for hallmark 5 (the table row reads Characteristic 5). Three alert conditions are built in: profile changed, verdict lost, consecutive closes below the line. Choose "Once Per Bar Close" when you create an alert.
WHAT IT DOES NOT DO
No entries, no exits, no targets, no win rates. It reads one hallmark out of five. The other four are not in here and could not be: documented phases A and B with the Spring as the phase C event; supply drying up at the low, or a quiet test after a shakeout; agreement across the order flow windows; a quick return above the edge with higher lows on the trigger timeframe. They need order flow, a volume profile and a judgment call.
LIMITATIONS
It measures price against the line itself, not against a zone of 0.3 x ATR(20) around it. Without a volume series the line stays empty, on purpose: line, slope and price read n/a, profile and verdict read too early, and closes above read 0 %. The slope threshold is a starting value to calibrate per instrument and timeframe. On continuous futures, roll gaps distort long-held anchors. The slope flattens as the anchor ages, by design: the tool reads the weeks after the event, not the year after it.
WORKED EXAMPLE
NASDAQ:NDX, daily, source HLC3, manual anchor on 22 Nov 2021, rest default: an inverted case, deliberately not a Spring. Through 2022 the verdict stays not met; price reads below, except for the false reclaims of late March and April 2022 (above, then oscillating). At the end of March 2023 price flips above (30 Mar: line near 12,904, close 12,963), and the verdict stays not met because the slope reads flat. Line levels can differ by a few points with the volume of your data feed.
For education only, not investment advice. Trading involves the risk of loss.
WVPO · Wyckoff, Volume Profile, Price Action, Order Flow.
Open tools for the book series by Dr. Dr. Eike Palluck, trading since 1976.
wvpo-academy.com/tv
Open tools for the book series by Dr. Dr. Eike Palluck, trading since 1976.
wvpo-academy.com/tv
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
WVPO · Wyckoff, Volume Profile, Price Action, Order Flow.
Open tools for the book series by Dr. Dr. Eike Palluck, trading since 1976.
wvpo-academy.com/tv
Open tools for the book series by Dr. Dr. Eike Palluck, trading since 1976.
wvpo-academy.com/tv
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.