VWATR Multi-Timeframe Ribbon

2022年9月22日

This script combines and averages Volume-Weighted Moving Averages in a specific way to make a unique ATR band that expands and retracts based on the volume in the current market.
This indicator allows for viewing up to 4 VWATR Bands on all the major trading timeframes.

This creates support and resistance levels that are fluid enough for traders to use these 4 methods:

- Identify a range to trade between in sideways markets.
- Identify when we are beginning a move(breaking out of the bands and using them as support to trade from).
- During a trend, traders can use higher timeframe VWATR Bands to identify take profits or potential rejection points.
- Identify when a trend may be over(losing the band as support after a breakout).

NOTE: This script will work fine on identifying crypto assets and stocks, but markets with different volume parameters will negatively affect the accuracy of this script.

2022年9月23日

リリースノート

Made some additions:
- Optional labels that show you which timeframe each VWATR Band is from.
- Option to change the colors of the VWATR.
These tweaks help traders read the chart a bit easier.