OHLC/GAP/EMA/VWAP

16 時間前

Instructions for Use
Step 1: Insert the Script
Open TradingView and select the desired chart.
Click "Indicators" → "New Pine Script Indicator".
Copy the code from the script and paste it into the Pine Editor.
Click "Add to Chart".
Step 2: Chart Interpretation
OHLC Levels:

Yellow lines mark the current Open and previous Close.
White lines show the previous High and Low.
Observe the fill between Open and Close:
Green: Bullish gap (Open above Close).
Red: Bearish gap (Open below Close).
Moving Averages:

MA10, MA20, MA50, EMA200:
Line color green: Price is above the average (bullish).
Line color red: Price is below the average (bearish).
The EMA200 indicates the long-term trend:
Green: Long-term bullish.
Red: Long-term bearish.
VWAP:

The VWAP line indicates the volume-weighted average price.
Green: VWAP is above the price (buying pressure).
Red: VWAP is below the price (selling pressure).
Step 3: Make Adjustments
Change Settings:

Click the gear icon next to the indicator on the chart.
Choose whether to use exponential (EMA) or simple (SMA) moving averages.
Adjust transparency or colors as desired.
Add More Periods:

Edit the code in the Pine Editor to calculate additional moving averages or new periods.
Strategies with This Script
1. Gap Trading:
Observe bullish gaps (green fill) and bearish gaps (red fill).
Trade in the direction of the gap if the price breaks above or below the High or Low.
2. EMA Crossover:
Use the combination of MA10, MA20, and EMA200 to spot trend reversals.
Example:
MA10 crosses above MA20 → Bullish signal.
Price rises above EMA200 → Long-term uptrend.
3. VWAP Trading:
The VWAP acts as dynamic support or resistance.
Example:
Price falls below VWAP → Opportunity for short positions.
Price rises above VWAP → Opportunity for long positions.
Summary
This script is a versatile tool for analyzing key market levels, trends, and momentum. With clear colors and lines, it provides an intuitive way to make quick trading decisions. Traders can customize it to suit their specific strategies and preferences.