Multi Range VWAP Pivots turned out to be one of my most accurate pivot indicators to date!
Multi Range VWAP Pivots works by recognizing the high and low of the timeframe selected (D, W, M, 6M, and 12M) and plotting range high to VWAP averages and range low to VWAP averages.
After further examination of each completed range, I came to the conclusion that due to the nature of averages, high and low respectively would need to be completed within the current range, for the averages to actually display pivots correctly. This means that if all averages appear to be "pivoting" correctly after or during a break lower of higher, then we can only assume the most recent break higher or lower could be exhaustion and price will be reverted to the mean (VWAP). OR, this could be the most accurate hindsight indicator on the planet.
*DISCLAIMER*: This indicator repaints. DO NOT backtest or set alerts with this indicator.
@vikkranntshah, The high and low will obviously repaint as new highs and lows are formed, but I havent noticed any diverse effects, as pivots still remain viable during future price action.
Vikkrannt_Shah
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@dysrupt, yes right same here, that's why thought to conform thank u...
telesforoduran
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In deep, the best indicator on the planet. Thank you very much!
SM6247
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Does this indicator plot ranges for the next coming day like pivots or these levels are plotted as the day progresses?
Vasukipriya
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Hey, Could you just brief it out on the Usage of this indicator. I am really interested in this indicator. It could be really helpful if you could tell us how to use this as an indicator <3