This version update by @Nahlawi
Combined Anchored VWAP and Standard Deviations Indicator:
This indicator combines the Anchored Volume Weighted Average Price (AVWAP) with Standard Deviations (SD) to provide traders with insights into price trends and potential reversal points. Let's break down each component and its functionality:
1. Anchored VWAP (AVWAP):
The Anchored VWAP is a volume-weighted average price calculated from a specific starting point, typically representing the average price traders paid for an asset since that time.
Users can customize the starting point using inputs for year, month, day, hour, and minute.
The AVWAP is plotted on the chart, providing a visual reference for the average price level since the chosen starting point.
The AVWAP line color can be customized using the AVWAP color input parameter.
2. Standard Deviations (SD):
Standard Deviations are a statistical measure that quantifies the amount of variation or dispersion in a set of data points. In trading, SD is often used to measure the volatility of an asset's price.
This indicator calculates the Standard Deviation of price movements around the AVWAP.
Users can customize the Multiplier for 2.5 SD and 4 SD, allowing them to adjust the sensitivity of the deviation levels.
SD levels are plotted above and below the AVWAP line, indicating potential overbought and oversold conditions.
The colors of the SD lines can be customized using the Up color SD and Down color SD input parameters.
3. Price Averages:
Additionally, the indicator calculates and plots price averages for specific periods.
Users can define the periods for the price averages, allowing them to monitor price movements over different timeframes.
Price averages are plotted as lines on the chart, providing insights into the average price levels over the specified periods.
The color of each price average line can be customized.
Alerts:
The indicator includes alert conditions for significant price movements relative to the SD levels.
Alerts are triggered when the closing price reaches certain SD levels (2.5 SD up, 2.5 SD down, 4 SD up, and 4 SD down).
Traders can customize the alert messages and choose to receive notifications via email, SMS, or pop-up alerts.
Conclusion:
The Combined Anchored VWAP and Standard Deviations Indicator offers traders a comprehensive view of price dynamics, including average price levels, deviations from the average, and potential reversal points.
By combining these elements, traders can make more informed decisions and identify trading opportunities with greater precision.
Combined Anchored VWAP and Standard Deviations Indicator:
This indicator combines the Anchored Volume Weighted Average Price (AVWAP) with Standard Deviations (SD) to provide traders with insights into price trends and potential reversal points. Let's break down each component and its functionality:
1. Anchored VWAP (AVWAP):
The Anchored VWAP is a volume-weighted average price calculated from a specific starting point, typically representing the average price traders paid for an asset since that time.
Users can customize the starting point using inputs for year, month, day, hour, and minute.
The AVWAP is plotted on the chart, providing a visual reference for the average price level since the chosen starting point.
The AVWAP line color can be customized using the AVWAP color input parameter.
2. Standard Deviations (SD):
Standard Deviations are a statistical measure that quantifies the amount of variation or dispersion in a set of data points. In trading, SD is often used to measure the volatility of an asset's price.
This indicator calculates the Standard Deviation of price movements around the AVWAP.
Users can customize the Multiplier for 2.5 SD and 4 SD, allowing them to adjust the sensitivity of the deviation levels.
SD levels are plotted above and below the AVWAP line, indicating potential overbought and oversold conditions.
The colors of the SD lines can be customized using the Up color SD and Down color SD input parameters.
3. Price Averages:
Additionally, the indicator calculates and plots price averages for specific periods.
Users can define the periods for the price averages, allowing them to monitor price movements over different timeframes.
Price averages are plotted as lines on the chart, providing insights into the average price levels over the specified periods.
The color of each price average line can be customized.
Alerts:
The indicator includes alert conditions for significant price movements relative to the SD levels.
Alerts are triggered when the closing price reaches certain SD levels (2.5 SD up, 2.5 SD down, 4 SD up, and 4 SD down).
Traders can customize the alert messages and choose to receive notifications via email, SMS, or pop-up alerts.
Conclusion:
The Combined Anchored VWAP and Standard Deviations Indicator offers traders a comprehensive view of price dynamics, including average price levels, deviations from the average, and potential reversal points.
By combining these elements, traders can make more informed decisions and identify trading opportunities with greater precision.