OPEN-SOURCE SCRIPT
RSRCH: DC-VWMA Width Calc
// Research intention of this script
// Objective : to find the direction of movement of index indicators
// Methodology : take the Donchian and VWMA input
// Compute Donchian and VWMA
// find the total width of Donchian = upper donchian value - lower donchian value
// Find the upper segment = upper donchian value - VWMA value
// find the lower segment = VWMA value - lower donchian value
// Plot them to see the trends glaringly.
// This works best with linebreak or Hiekin Ashi
// Objective : to find the direction of movement of index indicators
// Methodology : take the Donchian and VWMA input
// Compute Donchian and VWMA
// find the total width of Donchian = upper donchian value - lower donchian value
// Find the upper segment = upper donchian value - VWMA value
// find the lower segment = VWMA value - lower donchian value
// Plot them to see the trends glaringly.
// This works best with linebreak or Hiekin Ashi
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.