The Volume-Weighted Kaufman's Adaptive Moving Average (VW-KAMA) is a technical indicator that combines the Volume-Weighted Moving Average (VWMA) and the Kaufman's Adaptive Moving Average (KAMA) to create a more responsive and adaptable moving average.
Advantages:
Volume-Weighted: It takes into account the volume of trades, giving more weight to periods with higher trading volume, which can help filter out periods of low activity. Adaptive: The indicator adjusts its smoothing constant based on market conditions, becoming more sensitive in trending markets and less sensitive in choppy or sideways markets. Versatility: VW-KAMA can be used for various purposes, including trend identification, trend following, and determining potential reversal points and act as dynamic support and resistance level.
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Minor coding correction
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updated default lengths
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Based on a suggestion, Include the option to include upper and lower bands based on ATR. The default is not to have any upper and lower bands.
Adjust the settings as it fits. I would suggest the following // Input parameters length = input(10, title="VWMA Length") fast = input(5, title="Fast Length") slow = input(15, title="Slow Length")
// Calculate VWMA vwap = math.sum(hlc3 * volume, 5) / math.sum(volume, 5) ------------ for this change update the length in the code itself (from 3 to 5 , 5 is optimal)
length = input(10, title="VWMA Length")
fast = input(5, title="Fast Length")
slow = input(15, title="Slow Length")
// Calculate VWMA
vwap = math.sum(hlc3 * volume, 5) / math.sum(volume, 5) ------------ for this change update the length in the code itself (from 3 to 5 , 5 is optimal)