PROTECTED SOURCE SCRIPT

Flunki ZWAPometer - ZWAP Resets / Extremes

Here with another VWAP based indicator, this time using ZWAP (distance from VWAP) and flagging the extremities and crosses of each side, and graphing the bars since the last breach.

This basically gives a Bull / Bear energy / momentum

Yellow highlights = zero crossing , not entirely sure this is useful as of yet, but can give an early warning of a change - let me know if you find a genuine use for it !

Gray highlights = extreme reached, this generally signals exhaustion of the trend energy for Bull or Bear (depending on which side is reset obviously)

May develop further ; add bar colour options and more precise highlights, but only if it's of use to anyone.

Enjoy !

Flunkimoku

Protected script

This script is published closed-source and you may privately use it freely.

Want to use this script on a chart?

syrinxflunki

Also on:

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.