OPEN-SOURCE SCRIPT
[blackcat] L3 Stock VWAP Slope in Degrees
Level 3
Background
Smooth VWAP based on stock turnover and calculate the slope of the smoothed VWAP
Function
This is a technical indicator for stocks only. Because of the use of TradingView's financial functions, the scope of use is limited to stocks. It will give an error when you use it for other trading pairs. According to if the VWAP is smoothed according to the stock turnover rate, and the angle of the VWAP is calculated to judge the trend. The specific method of use is: the fast line crosses the slow line at a large angle, which can be regarded as a buy intervention point, and the fast line crosses the slow line in a small amount and then steps back on the slow line, which can also be regarded as a buy intervention point. The slow line is the 3-period moving average of the fast line.
Remarks
Feedbacks are appreciated.
Background
Smooth VWAP based on stock turnover and calculate the slope of the smoothed VWAP
Function
This is a technical indicator for stocks only. Because of the use of TradingView's financial functions, the scope of use is limited to stocks. It will give an error when you use it for other trading pairs. According to if the VWAP is smoothed according to the stock turnover rate, and the angle of the VWAP is calculated to judge the trend. The specific method of use is: the fast line crosses the slow line at a large angle, which can be regarded as a buy intervention point, and the fast line crosses the slow line in a small amount and then steps back on the slow line, which can also be regarded as a buy intervention point. The slow line is the 3-period moving average of the fast line.
Remarks
Feedbacks are appreciated.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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