- Ultimate VWAP Bands is a script that helps to decide and further clarify areas of oversold and overbought conditions.
- For example, when the price is in the lowest band it is extremely oversold relative to the VWAP . Hence it should be considered a good place to buy with a high risk to reward payoff.
- Each band is set at a fixed offset away from the VWAP ....
Very busy preparing a few stuff for Black Friday but wanted to remind that I still know Pinescript and how to step up my game :)
My master @RicardoSantos once again showed me how to push the pinescript limits one step/dimension further. Kudo also to my client (Judy) for this amazing idea.
I inspired myself from his script...
Sensitivity to a price change:
Black UO > Green UO > Red UO
How to reach a chart using UO_3X indicator:
A trend can be considered as stable if Green UO crosses and stays above Red UO. Visually it will look like a green cloud.
During uptrend there is a tendency of Black UO to fluctuate above Green OU and especially above Red UO. Coloring it yellow.
Welcome to the Ultimate Moving Average indicator.
Never again spend time looking for EMA / SMA indicators when you can have them all in this single indicator.
Options include :
Daily Chart: Classic Golden / Death Cross - 50/D and 200/D SMA
Daily Chart: 3-day Golden / Death Cross - 150/D and 600/D SMA
Daily Chart: 140/D SMA
Daily Chart: 700/D SMA
A combined indicator, overlapping the following three indicators
RSI (with option to add second timeframe)
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