Shows difference between price and daily/weekly/monthly/hourly/whatever VWAP.
In v2:
option to color bars
average percentual difference of custom period
histogram changes color depending on which levels it's at
Levels/period/color etc can be customized.
Use these inputs in the timeframe box:
M - month
W - week
D - day
2D (or 3W or 2M or whatever) = 2 Days (or three week or 2 months and so on)
60= 1 H
240= 4 H
5 = 5 min
and so on.
btw, vaguely remembering reading somewhere that the big players like to make their entry at 4% difference.
In v2:
option to color bars
average percentual difference of custom period
histogram changes color depending on which levels it's at
Levels/period/color etc can be customized.
Use these inputs in the timeframe box:
M - month
W - week
D - day
2D (or 3W or 2M or whatever) = 2 Days (or three week or 2 months and so on)
60= 1 H
240= 4 H
5 = 5 min
and so on.
btw, vaguely remembering reading somewhere that the big players like to make their entry at 4% difference.
//@version=2 study(title="Percent difference between price and vwap") BarcOn=input(false, title="Color bars/Candles?") len=input(36) TimeFrame = input('D') start = security(tickerid, TimeFrame, time) newSession = iff(change(start), 1, 0) vwapsum = iff(newSession, hl2*volume, vwapsum[1]+hl2*volume) volumesum = iff(newSession, volume, volumesum[1]+volume) v2sum = iff(newSession, volume*hl2*hl2, v2sum[1]+volume*hl2*hl2) myvwap = vwapsum/volumesum src=input(close) xSMA = myvwap nRes = abs(src - xSMA) * 100 / src nRes3 = sma(nRes,len) plot(nRes3, color=blue, style=areabr,transp=90, histbase=0, title="Average") level1=input(1.28) level2=input(2.1) level3=input(2.5) level4=input(3.09) level5=input(4.1) color2=nRes>level1 and nRes<level2?navy: nRes>level2 and nRes<level3?blue: nRes>level3 and nRes<level4?orange: nRes>level4 and nRes<level5?red: nRes>level5?maroon: na color=nRes>level1 and nRes<level2?navy: nRes>level2 and nRes<level3?blue: nRes>level3 and nRes<level4?orange: nRes>level4 and nRes<level5?red: nRes>level5?maroon: gray plot(nRes, style=histogram,color=color) barcolor(BarcOn?color2:na) hline(0, title="Base Line", color=aqua, linestyle=solid) a=hline(level1, title="1", color=aqua, linestyle=dotted) b=hline(level2, title="2", color=blue, linestyle=dotted) c=hline(level3, title="3", color=orange, linestyle=dotted) d=hline(level4, title="4", color=red, linestyle=dotted) e=hline(level5, title="5", color=maroon, linestyle=dotted)