OPEN-SOURCE SCRIPT
_mr_beach Sunday Entwicklung Version 1
_mr_beach Sunday Development Version 1
Short Description (for TradingView publication):
This indicator combines EMA crossovers, VWAP with standard deviation bands, gap detection, pivot-based support & resistance, and VWAP distance labels in a single overlay. Perfect for discretionary traders aiming to efficiently identify gap fills, trend reversals, and key price levels. All components can be toggled on/off via the settings menu.
Full Indicator Description:
🧠 Purpose of the Indicator:
This all-in-one tool merges several analytical features to visualize trend direction, market structure, key price levels (e.g., gaps, VWAP distance, pivot support), and entry signals at a glance.
🔧 Integrated Features:
EMA20 / EMA50: Trend detection via moving averages. Crossover signals indicate potential entries.
VWAP + Band: Volume-weighted average price with visual deviation bands.
GAP-Up / GAP-Down: Price gaps are highlighted in color (brown/yellow), optionally showing only open ones.
VWAP Distance Label: Displays the current price’s percentage deviation from the VWAP as a chart label.
Buy/Sell Signals: Triggered by EMA20 and EMA50 crossovers.
HH/LL SL-Marker: Identifies local highs/lows using pivots.
Support & Resistance: Automatically calculated pivot zones.
Customizable Visibility: All features can be toggled in the settings menu.
Dummy Plot: plot(na) ensures error-free compilation.
⚙️ Settings Menu Options:
Show VWAP: Displays VWAP and deviation bands.
Show EMA20 / EMA50: Shows the moving averages.
Show Gaps: Enables gap detection.
Show Only Open Gaps: Hides already filled gaps.
Show VWAP Distance: Activates VWAP deviation label.
Support & Resistance: Displays pivot-based zones as support/resistance.
🔔 Alerts:
‘Mads Morningstar Signal’: Buy/Sell alerts based on EMA crossover.
📈 Use Cases:
Trend-following setups using EMA crossover
Gap-fill trading strategies
VWAP reversion trades
SL/TP based on HH/LL or pivot levels
Visual chart preparation for scalping, intraday, or swing trading
🛠 Suggested Extensions:
Gap table showing open levels
Take-Profit/Stop-Loss strategy
Alerts for new gap formation
Strategy tester module with gap-based entries
Short Description (for TradingView publication):
This indicator combines EMA crossovers, VWAP with standard deviation bands, gap detection, pivot-based support & resistance, and VWAP distance labels in a single overlay. Perfect for discretionary traders aiming to efficiently identify gap fills, trend reversals, and key price levels. All components can be toggled on/off via the settings menu.
Full Indicator Description:
🧠 Purpose of the Indicator:
This all-in-one tool merges several analytical features to visualize trend direction, market structure, key price levels (e.g., gaps, VWAP distance, pivot support), and entry signals at a glance.
🔧 Integrated Features:
EMA20 / EMA50: Trend detection via moving averages. Crossover signals indicate potential entries.
VWAP + Band: Volume-weighted average price with visual deviation bands.
GAP-Up / GAP-Down: Price gaps are highlighted in color (brown/yellow), optionally showing only open ones.
VWAP Distance Label: Displays the current price’s percentage deviation from the VWAP as a chart label.
Buy/Sell Signals: Triggered by EMA20 and EMA50 crossovers.
HH/LL SL-Marker: Identifies local highs/lows using pivots.
Support & Resistance: Automatically calculated pivot zones.
Customizable Visibility: All features can be toggled in the settings menu.
Dummy Plot: plot(na) ensures error-free compilation.
⚙️ Settings Menu Options:
Show VWAP: Displays VWAP and deviation bands.
Show EMA20 / EMA50: Shows the moving averages.
Show Gaps: Enables gap detection.
Show Only Open Gaps: Hides already filled gaps.
Show VWAP Distance: Activates VWAP deviation label.
Support & Resistance: Displays pivot-based zones as support/resistance.
🔔 Alerts:
‘Mads Morningstar Signal’: Buy/Sell alerts based on EMA crossover.
📈 Use Cases:
Trend-following setups using EMA crossover
Gap-fill trading strategies
VWAP reversion trades
SL/TP based on HH/LL or pivot levels
Visual chart preparation for scalping, intraday, or swing trading
🛠 Suggested Extensions:
Gap table showing open levels
Take-Profit/Stop-Loss strategy
Alerts for new gap formation
Strategy tester module with gap-based entries
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.