PROTECTED SOURCE SCRIPT
Updated SHWR Bands
"SHWR Bands" are designed for multiple types of traders such as scalpers, knife catching degenerates, swing traders, etc.
The midline is based off of an Event Anchored VWAP ("eVWAP"?) instead of a periodic or period based one because that just doesn't make sense to me for a 24/7 market.
The bands aren't regular stdevs, they're devs based off of something else besides the "eVWAP" and are mathed against another math.
A lot of different ways to play this indicator such as ping ponging between the first two bands and the midline, knife catching trend reversals with the outer bands, confluence for swing traders if price is at a resistant/support and is within one of the middle bands, etc
Useful for all timeframes in different ways.
I've butchered all those explanations but I hope you enjoy and use it anyways.
The midline is based off of an Event Anchored VWAP ("eVWAP"?) instead of a periodic or period based one because that just doesn't make sense to me for a 24/7 market.
The bands aren't regular stdevs, they're devs based off of something else besides the "eVWAP" and are mathed against another math.
A lot of different ways to play this indicator such as ping ponging between the first two bands and the midline, knife catching trend reversals with the outer bands, confluence for swing traders if price is at a resistant/support and is within one of the middle bands, etc
Useful for all timeframes in different ways.
I've butchered all those explanations but I hope you enjoy and use it anyways.
Release Notes
Updated the math on the bands. Better results now for higher timeframes and better "Tunnels" overallRelease Notes
Screw it. Original version is betterProtected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.