This indicator combines two features: VWAP bands for range trading and trends for trend-following.
The white bands offer support/resistance levels ideal for range trading: short when rejecting off the upper band, long when rejecting off the lower. Take profit either when hitting the (faint gray) midline and/or when hitting the band on the far side.
The trend analysis shows green or red ranges above or below the bands to indicate trend strength - larger swaths of green or red indicates strong trend while shorter swathes indicate weak. If the upper trend color doesn't match the lower trend color, the trend is undecided or transitioning.
Optionally, trend initiation indicators can be turned on to show above/below candles where a trend switch is taking place.
Versionsinformation
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This indicator combines two features: VWAP bands for range trading and trends for trend-following.
The white bands offer support/resistance levels ideal for range trading: short when rejecting off the upper band, long when rejecting off the lower. Take profit either when hitting the (faint gray) midline and/or when hitting the band on the far side.
The trend analysis shows green or red ranges above or below the bands to indicate trend strength - larger swaths of green or red indicates strong trend while shorter swathes indicate weak. If the upper trend color doesn't match the lower trend color, the trend is undecided or transitioning.
Optionally, trend initiation indicators can be turned on to show above/below candles where a trend switch is taking place.
Well done sir. I hope you keep making new indicators.
Austimize
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@johngamel, I have 10 indicators made for every 1 I have published. The pinescript review board got more strict with their guidelines and started rejecting them to the point I was spending more time trying to get them published than I was make them. Basically stopped publishing because of it. :/
plutoman007
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Nice Indi, thanks. What time frame was this indi created for? I know VWAP is intraday but just curious as to what you suggest
johngamel
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@plutoman007, I would use 1hr and drop the length to 50.
Austimize
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@plutoman007, sorry, didn’t know there were comments until they started notifying me. I made it as an experiment and actually forgot about it until now. Don’t know what timeframe it works best for, honestly