This indicator shows 1 and 2 standard deviation price move from the VWAP based on VIX. Implied Volatility (IV) is being used extensively in the Option world to project the Expected Move for the underlying instrument. VIX is used as a proxy for SPY's IV for 30 days.
This indicator is meaningful only for SPY but can be used in any other instrument which has a strong correlation to SPY.
This indicator is meaningful only for SPY but can be used in any other instrument which has a strong correlation to SPY.
Versionsinformation:
Added AAPL, AMZN, GOOG & IBM to use the corresponding VIX.
Added Ability to disable the bands if the VIX is not available.
Minot UI changes.
Added Ability to disable the bands if the VIX is not available.
Minot UI changes.
Versionsinformation:
Using VIX instead of VIX9D as Tradingview's VIX9D data is delayed
Versionsinformation:
Simple color tone change.
Versionsinformation:
Requested by @Jansuperv to have VXX instead of VIX. Now you can configure that from the input panel.
Versionsinformation:
Added alert on price crossing 3 SD as requested by @acogwell11
Versionsinformation:
Added weekly option for VWAP as requested by @MacPeroni