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Strongholds - Objective & Accurate Reference Points / StructuresVery early in my trading career, I came across Pivot Points only to find out that there are as many calculations as one pleases. It was hard to find out which ones work. Most of them probably did only out of randomness, so I ditched the strategy and looked for something else.
I previously used my Oracle Eye and Reference Points scripts but it is time for an upgrade.
Stronghold is a script I have used for quite some time now. I ditched daily and weekly closing prices as not that important. Instead, Strongholds are equipped with:
►Daily High & Low • Azure color
►Weekly High & Low • Dark blue
►Weekly old High & Low • Semi-transparent dark circles
►Monthly High & Low • Wizardly purple
There is an option to print:
►4h High & Low • Semi-transparent red
►VWAP • Lovely purple
►Weekly VWAP • Black
All of the levels and lines are set for 1m, 5m, 10m, 15m, 30m, 1h, 4h, 1D timeframes. If you use any alien timeframe, you may need to enter the code.
You can opt-in and out for certain timeframes. For example, daily levels are visible from 15m or 30, so the indicator won't draw them unless you want to. However, they will not be seen on higher timeframes as there is no reason to show them and oversaturate the chart with lines.
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Remember that if you use this script with auto-scale, you need to tick Scale Price Chart Only . Otherwise, your chart will fly to the moon!
Good luck & have fun!
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Origin VWAP: OVWAPDraw a VWAP support/resistance line anchored to the origin of the data series (like a daily VWAP, but from the beginning of time, never resetting).
Ideally the origin would be the first bar after the IPO. Tradingview (or your connected broker) doesn't always have a complete dataset, and in that case the OVWAP will be 'wrong', but converging to the correct value over time.
You can try to simulate this with the built-in VWAP indicator but it has several bugs and limitations. Firstly, the longest time period is century, but it is not 100 years, ie. a rolling century but the beginning of the century: 21 years ago. Secondly, even if your dataset is less than 21 years, if you use a lower time frame then the built-in VWAP's origin becomes the left-most loaded bar (about 5,000 bars ago) - it will draw the wrong value. The new Anchored VWAP drawing tool can't be used on lower time frames as it won't draw the line at all unless it sees the point where you anchored it.
You may want to cut 'n paste this code to use in some larger strategy. Unfortunately that's probably not possible. This script uses the 'resolution=' option of 'study()' set to '1W', so the whole script runs at the 1 week resolution. You would think it would be possible to instead use the 'security()' function to request data at the '1W' resolution, but it just resamples the current data set and so is limited to the rightmost 5,000 bars.
Look in the options to enable standard deviation lines. 지표
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VWAP with Standard Deviation BandsVolume Weighted Average Price (VWAP), with Standard Deviation Bands
VWAP is a moving average with weighting for traded volume, so heavier trading activity has a greater impact on its direction. Low volume periods will move the VWAP less than high volume periods.
The VWAP is important because institutional investors often use it to determine what is ‘fair value’. You can often see the market reacting when it gets close to the VWAP.
This version is time segmented VWAP. It reset ma values when selected time period expires.
Time periods are able to be selected in the settings: "1D", "2D", "W", "14D", "M", "60D", "12M", "24M", "Custom".
Additionally script determines VWAP standard deviations.
Multipliers for VWAP Standard Deviation Bands can be changed in the settings.
There is also option to show previous VWAP and its Standard Deviation Bands before timeframe reset. 지표
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|AG| VWAP ANALYSIS|AG| VWAP ANALYSIS
The volume-weighted average price (VWAP) is a trading benchmark used by traders that gives the average price security has traded throughout the day, based on both volume and price.
It is important because it provides traders with insight into both the trend and value of the security.
VWAP is calculated by adding up the $ traded for every transaction (price multiplied by the number of shares traded) and then dividing by the total shares traded.
A detailed formula and calculations could be found here:
-> fanf2.user.srcf.net
Actually, TradingView has an option for Anchored Vwap is a really good implementation for specific analysis.
The following script takes into account the #Time_Period_Change and plots the VWAP calculation.
The #Time_Period Available for this script are:
-> Day
-> Week
-> Monthly
-> Quarter
-> Year
1. The option that we have is the SOURCE:
-> HLC3 (High, Low, Close)/3 is the right way to calculate VWAP.
-> But I included other traditional options:
-> open, high, low, close, hl2, hlc3, ohlc4
2. The option of Turn ON/OFF VWAP
-> Timeframe selection:
-> All, 1. Day, 2. Week, 3. Month, 4. Quarter, 5. Year, 6. >=Weekly, 7. >=Montlhy
-> With this, we could select the time for plotting the VWAP. And some cool features such as >= that we are going to plot different Timeframes VWAP calculations.
-> Vwap Label:
-> We could select if show labels or not
3. The option of Turn ON/OFF Previous VWAP Level
-> VWAP of one selected Time Period is going to end with a final price this level most of the time is retested and gives us a good opportunity for entry into one trade.
Or could be used as Stop Loss.
-> Timeframe selection:
-> 1. Day, 2. Week, 3. Month, 4. Quarter, 5. Year, 6. >=Weekly, 7. >=Montlhy, 8. >=Daily
-> Factor
-> The factor options lead as increment the extension of the previous time period.
-> Example: D is the normal time period and with factor, we change from 1D to 2D in order to extend previous levels of VWAP.
->The Factor option is only available in 1. Day and 2. Week. With a Min Value of 1 and a Maximum Value of 50.
-> Labels:
-> We could select if show labels or not
4. The option of Turn ON/OFF Standard Deviation Bands
-> Label:
-> We could select if show labels or not
-> Timeframe selection:
-> 1. Day, 2. Week, 3. Month, 4. Quarter, 5. Year
5. The option of Turn ON/OFF Previous Standard Deviation
-> Timeframe selection:
-> None, 1. Day, 2. Week, 3. Month, 4. Quarter, 5. Year, 6. >=Weekly, 7. >=Montlhy, 8. Quarter & Year
-> STDEV LEVEL
-> Since there are different options for Standard Deviation I included 4 options
-> 1
-> 2
-> 3
-> User Selection
-> In this option we could select any NUMBER for STVDEV 0.25 of step.
-> Label:
-> We could select if show labels or not
6. The Lockback Setting
-> This Script also includes an option to only plot a certain amount of days back.
The main reason in order to have a more clear chart.
-> We could select between:
-> PLOT ALL
-> CUSTOM
-> If we select Custom Then we could select the Number of Days Back that is going to be plotted.
7. Color Theme
Here we select the color (Visual Desing)
-> Color Theme
-> Text Color
-> Here I use the recent input.color option added for TradingView making the color selection really simple
8. Time Period Highlighter
-> In this option, we could select one time period in order to plot one tiny background and identify the change in the time period.
-> Timeframe selection:
-> 1. Day, 2. Week, 3. Month, 4. Quarter, 5. Year
9. Label Offset
-> Finally, this option leads us to change the position of the labels into the X-axis by default 20.
This script has many options the combinations and the possibilities of making different analyses are bast.
Here some examples of what we could make:
DEFAULT SETTING:
PREVIOUS VWAP FOR TIME PERIOD >= WEEK
(work good as S&D levels)
PREVIOUS VWAP Week WITH A FACTOR OF 4
STANDARD DEVIATION BANDS - DAY
STANDARD DEVIATION BANDS - WEEK
STANDARD DEVIATION BANDS - MONTH
STANDARD DEVIATION BANDS - QUARTER
STANDARD DEVIATION BANDS - YEAR
PREVIOUS STANDARD DEVIATION - DAY SDTV 3
PREVIOUS STANDARD DEVIATION - WEEK SDTV 3
USING STANDARD DEVIATION BANDS - WEEK
WITH LOCKBACK -> PLOT ALL
WITH CUSTOM 30 DAYS
I think the options possibilities of analysis using #VWAP are truly awesome.
I like the relationship that one previous VWAP has with Standard Pivot Points.
Good Luck,
Anderson,
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