OPEN-SOURCE SCRIPT
VWAP Rope Band by Bybllo
VWAP Rope Band plots a smoothed trend line (the "rope") that only moves once price has traveled beyond a VWAP-deviation threshold from its last position - small back-and-forth noise around VWAP is absorbed, and the line only steps when a move is statistically meaningful.
The threshold is the standard deviation of (close - VWAP) over a lookback period, scaled by a multiplier, so the surrounding band automatically widens or narrows with how far price is currently dispersing from VWAP - no manual adjustment needed as volatility changes.
A genuine trend reversal is only registered once the rope actually reverses direction (not on every VWAP wiggle). That short transition window gets its own color, an optional gradient cloud, and an optional Buy/Sell badge at the exact bar the reversal is confirmed.
INTENDED USE
Works well for short-term futures scalping - Nasdaq futures, KOSPI200 futures, and similar instruments. Built and tested primarily on the 1-minute chart, but the underlying VWAP/rope/band logic is timeframe-agnostic and holds up well on 2, 3, and 5-minute charts and other intraday timeframes too. The StdDev Length and Band Multiplier adapt to volatility automatically, but it's worth rechecking them when you switch timeframe or instrument.
FEATURES
- Threshold-based "rope" trend line that ignores VWAP noise, only stepping on statistically meaningful deviations
- Volatility-adaptive band (self-widening/narrowing standard-deviation envelope around the rope)
- True-gradient cloud fill between rope and band, with adjustable steepness
- Confirmed-reversal transition detection with its own color/cloud, auto-expiring after 5 bars if unresolved
- Optional Buy/Sell badge plotted at the exact bar a reversal is confirmed
- Two alert families: simple rope crossover/crossunder, and confirmed Buy/Sell signal alerts
- Works on any chart type (candlestick, Heikin Ashi, Renko, etc.) since prices are pulled via request.security() from the underlying ticker
This is a visual/alerting tool only - it does not place real orders. For educational and informational purposes only, not financial advice. Always verify how the rope and bands behave on your specific symbol and timeframe before relying on them for live trading.
The threshold is the standard deviation of (close - VWAP) over a lookback period, scaled by a multiplier, so the surrounding band automatically widens or narrows with how far price is currently dispersing from VWAP - no manual adjustment needed as volatility changes.
A genuine trend reversal is only registered once the rope actually reverses direction (not on every VWAP wiggle). That short transition window gets its own color, an optional gradient cloud, and an optional Buy/Sell badge at the exact bar the reversal is confirmed.
INTENDED USE
Works well for short-term futures scalping - Nasdaq futures, KOSPI200 futures, and similar instruments. Built and tested primarily on the 1-minute chart, but the underlying VWAP/rope/band logic is timeframe-agnostic and holds up well on 2, 3, and 5-minute charts and other intraday timeframes too. The StdDev Length and Band Multiplier adapt to volatility automatically, but it's worth rechecking them when you switch timeframe or instrument.
FEATURES
- Threshold-based "rope" trend line that ignores VWAP noise, only stepping on statistically meaningful deviations
- Volatility-adaptive band (self-widening/narrowing standard-deviation envelope around the rope)
- True-gradient cloud fill between rope and band, with adjustable steepness
- Confirmed-reversal transition detection with its own color/cloud, auto-expiring after 5 bars if unresolved
- Optional Buy/Sell badge plotted at the exact bar a reversal is confirmed
- Two alert families: simple rope crossover/crossunder, and confirmed Buy/Sell signal alerts
- Works on any chart type (candlestick, Heikin Ashi, Renko, etc.) since prices are pulled via request.security() from the underlying ticker
This is a visual/alerting tool only - it does not place real orders. For educational and informational purposes only, not financial advice. Always verify how the rope and bands behave on your specific symbol and timeframe before relying on them for live trading.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.