Mysteriown

MTF VWAP + Fibo Incremental deviations

I made a Fibo variant of my first script "VWAPs + devs" :

This new indicator give you the possibility to plot multi timeframes VWAP (D, W, M, 3M and 12M ) and Fibo deviations for each one.

VWAP is a powerfull indicator which is used by big players to get informations if the price is "overbought" or "oversold". Deviations give the opportunity to have supports and resistances in those "over"-zones.

I searched for better results and found those defaults values :
  • Fib 1 level : 0.618
  • Fib 2 level : 0.786
  • Fib 3 level : 1.000
  • Fib 4 level : 1.618
  • Fib 5 level : 2.618

In the thumbnail, we can see that the 1.618 deviation level made a great support on the last uptrend for BTCUSDT .

You can change each values but low ones as 0.382 and 0.5 don't give really interesting supports/resistances.

I made this script as clear and simple as possible with only one menu in the parameters.

Some examples of what you can do :

BTCUSDT (Binance) H4 / D, W, M, 3M ,12M VWAP without devs

BTCUSDT (Binance) M5 / Daily VWAP + Fibo devs

Hope this will be useful for you !
Skript med en öppen källkod

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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