OPEN-SOURCE SCRIPT
Updated VWAP Reversal Signals
This script displays long or short flags after a touch of the VWAP 2 standard deviation line occurs according to the script rules which attempt to determine when there is a bounce toward VWAP. A flag also indicates if VWAP is hit or else if a settings-configurable distance from VWAP is touched. If, instead, the stop is reached, a red "X" is displayed.
Release Notes
It is preferred during regular trading hours to use the RTH (Regular Trading Hours) setting in TradingView. This latest release displays a "...LONG" or "...SHORT" flag, when appropriate, as the current candle approaches close, and "LONG" or "SHORT" at close. Also, the value of VWAP is now displayed to the right of VWAP.Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.