OPEN-SOURCE SCRIPT
FibVWAP_CCI_Strategy
This comprehensive Pine Script strategy combines Fibonacci retracement levels, Volume Weighted Average Price (VWAP), Commodity Channel Index (CCI), and Average True Range (ATR)-based stop levels to equip traders with essential tools for market analysis. Designed for intraday and swing traders, the script provides a detailed view of market momentum, dynamic support/resistance levels, and actionable buy/sell signals.
Key Features:
Fibonacci Levels:
Visualizes key support and resistance zones based on Fibonacci retracements.
Labels each level dynamically on the chart for easy reference.
VWAP with Standard Deviation Bands:
Tracks volume-weighted price trends to identify the true market value.
Includes upper and lower bands for detecting potential breakout or reversion zones.
CCI with Moving Average:
Highlights overbought/oversold conditions to anticipate market reversals.
Includes a smoothed moving average of CCI for trend validation.
ATR-Based Stop Levels:
Dynamic stop-loss levels (long and short) to manage risk effectively.
Helps traders maintain discipline with predefined exit strategies.
MACD:
Provides momentum signals with clear buy/sell crossovers.
Includes a histogram for identifying the strength of price movements.
Custom Alerts:
Bullish and bearish signals are triggered based on CCI crossovers and price action relative to VWAP.
Alerts are integrated for real-time decision-making.
Categories:
Indicators: Combines multiple technical indicators into a single script.
Volume Analysis: VWAP-based price tracking for volume-weighted trends.
Trend Analysis: CCI and MACD identify momentum shifts and trends.
How to Use:
Fibonacci Levels:
Use the displayed levels to identify potential support and resistance areas for trade entry and exit.
VWAP Bands:
Observe price interactions with VWAP and its bands to determine overbought/oversold conditions or breakout opportunities.
CCI and ATR Stops:
Use the CCI and its moving average to confirm trend direction and momentum.
Apply ATR stop levels for setting dynamic risk parameters.
MACD:
Monitor MACD crossovers for confirming bullish or bearish market momentum.
This script serves as a powerful toolkit for traders, offering robust functionality and visual clarity for effective decision-making in financial markets.
Key Features:
Fibonacci Levels:
Visualizes key support and resistance zones based on Fibonacci retracements.
Labels each level dynamically on the chart for easy reference.
VWAP with Standard Deviation Bands:
Tracks volume-weighted price trends to identify the true market value.
Includes upper and lower bands for detecting potential breakout or reversion zones.
CCI with Moving Average:
Highlights overbought/oversold conditions to anticipate market reversals.
Includes a smoothed moving average of CCI for trend validation.
ATR-Based Stop Levels:
Dynamic stop-loss levels (long and short) to manage risk effectively.
Helps traders maintain discipline with predefined exit strategies.
MACD:
Provides momentum signals with clear buy/sell crossovers.
Includes a histogram for identifying the strength of price movements.
Custom Alerts:
Bullish and bearish signals are triggered based on CCI crossovers and price action relative to VWAP.
Alerts are integrated for real-time decision-making.
Categories:
Indicators: Combines multiple technical indicators into a single script.
Volume Analysis: VWAP-based price tracking for volume-weighted trends.
Trend Analysis: CCI and MACD identify momentum shifts and trends.
How to Use:
Fibonacci Levels:
Use the displayed levels to identify potential support and resistance areas for trade entry and exit.
VWAP Bands:
Observe price interactions with VWAP and its bands to determine overbought/oversold conditions or breakout opportunities.
CCI and ATR Stops:
Use the CCI and its moving average to confirm trend direction and momentum.
Apply ATR stop levels for setting dynamic risk parameters.
MACD:
Monitor MACD crossovers for confirming bullish or bearish market momentum.
This script serves as a powerful toolkit for traders, offering robust functionality and visual clarity for effective decision-making in financial markets.
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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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.