OPEN-SOURCE SCRIPT
VWAP Stdev Bands v2 Mod UPDATE
Vwap + standard deviation bands. Good for reversal trading among other things. Used intraday.
Very useful when price is ranging.
I added:
- Option to fill the spaces between the deviation lines with color.
- Option to add some extra bands. Color/length/style etc is customizable.
Made a quick update to prev version:
- Added bar/candle coloring
- You can change the colors to whatever you want.
- Or turn them off completely.
Ex:
If the candle is above vwap and below standard deviation 1 its white
If the candle is below vwap and above standard deviation 1 its black
If the candle is below std 2and above std3 its green
And so on...
original script by /u/SandroTurriate/ - I just made the changes above.
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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