OPEN-SOURCE SCRIPT
VWAP Mensuel Auto-Ancre (3 Deviations)
Monthly Auto-Anchored VWAP (3 Deviations) – Indicator Overview
Name: Monthly Auto-Anchored VWAP (3 Deviations)
Short Title: Monthly VWAP 3D
Type: Overlay Indicator (Plotted on Price Chart)
Key Features
This indicator calculates a Volume-Weighted Average Price (VWAP) anchored to the start of each month, providing a dynamic reference point for intramonth trading. It includes three customizable standard deviation bands, allowing traders to assess volatility, mean reversion zones, and potential support/resistance levels.
-Customization Options-
1. Calculation Settings
Source: Choose the price input (default: HLC/3).
Break Lines at New Month: Toggle whether to reset the VWAP and deviation lines at the start of each month.
2. Main VWAP Line
Visibility: Show/hide the primary VWAP line.
Appearance: Adjust color, line width (1–5), and style (solid, dashed, or dotted).
3. Deviation Bands (1–3)
Each deviation band is fully configurable:
Visibility: Show/hide individual bands.
Multiplier: Set the standard deviation multiplier (e.g., 1.0, 2.0, 3.0).
Appearance: Customize color, line width, and style (solid, dashed, or dotted).
-How It Works-
VWAP Calculation: Computes the volume-weighted average price from the start of the month, resetting automatically at month-end (or continuing seamlessly if disabled).
Standard Deviation Bands: Plots upper/lower bands based on the selected multipliers, helping identify overbought/oversold conditions relative to the monthly VWAP.
Auto-Anchoring: Eliminates manual anchor point selection, ideal for swing trading or intramonth analysis.
-Use Cases
Trend Confirmation: Price above/below VWAP may signal bullish/bearish bias.
Mean Reversion: Deviations act as dynamic support/resistance zones.
Volatility Assessment: Wider bands indicate higher volatility; tighter bands suggest consolidation.
-Why This Indicator?
Adaptive: Automatically adjusts to new monthly data.
Flexible: Customize bands to fit your trading strategy (e.g., tighter for scalping, wider for swing trading).
Clarity: Clean, non-cluttered visualization with user-defined styling.
Ideal for: Traders seeking a structured, volume-aware tool to gauge monthly trends and volatility without manual adjustments.
Personal note:
"This indicator is like a wise old trader—it doesn’t just show you the average; it maps the battlefield of price and volume. Use it to spot when the market is stretching too far (deviations) or when it’s coiling for a move (VWAP as magnet). But remember: even the best tools need context. Combine it with volume spikes or momentum oscillators for higher-probability setups. And if the bands are too wide? The market’s whispering ‘caution’—listen."
Name: Monthly Auto-Anchored VWAP (3 Deviations)
Short Title: Monthly VWAP 3D
Type: Overlay Indicator (Plotted on Price Chart)
Key Features
This indicator calculates a Volume-Weighted Average Price (VWAP) anchored to the start of each month, providing a dynamic reference point for intramonth trading. It includes three customizable standard deviation bands, allowing traders to assess volatility, mean reversion zones, and potential support/resistance levels.
-Customization Options-
1. Calculation Settings
Source: Choose the price input (default: HLC/3).
Break Lines at New Month: Toggle whether to reset the VWAP and deviation lines at the start of each month.
2. Main VWAP Line
Visibility: Show/hide the primary VWAP line.
Appearance: Adjust color, line width (1–5), and style (solid, dashed, or dotted).
3. Deviation Bands (1–3)
Each deviation band is fully configurable:
Visibility: Show/hide individual bands.
Multiplier: Set the standard deviation multiplier (e.g., 1.0, 2.0, 3.0).
Appearance: Customize color, line width, and style (solid, dashed, or dotted).
-How It Works-
VWAP Calculation: Computes the volume-weighted average price from the start of the month, resetting automatically at month-end (or continuing seamlessly if disabled).
Standard Deviation Bands: Plots upper/lower bands based on the selected multipliers, helping identify overbought/oversold conditions relative to the monthly VWAP.
Auto-Anchoring: Eliminates manual anchor point selection, ideal for swing trading or intramonth analysis.
-Use Cases
Trend Confirmation: Price above/below VWAP may signal bullish/bearish bias.
Mean Reversion: Deviations act as dynamic support/resistance zones.
Volatility Assessment: Wider bands indicate higher volatility; tighter bands suggest consolidation.
-Why This Indicator?
Adaptive: Automatically adjusts to new monthly data.
Flexible: Customize bands to fit your trading strategy (e.g., tighter for scalping, wider for swing trading).
Clarity: Clean, non-cluttered visualization with user-defined styling.
Ideal for: Traders seeking a structured, volume-aware tool to gauge monthly trends and volatility without manual adjustments.
Personal note:
"This indicator is like a wise old trader—it doesn’t just show you the average; it maps the battlefield of price and volume. Use it to spot when the market is stretching too far (deviations) or when it’s coiling for a move (VWAP as magnet). But remember: even the best tools need context. Combine it with volume spikes or momentum oscillators for higher-probability setups. And if the bands are too wide? The market’s whispering ‘caution’—listen."
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.