Heatmap VWAP Forex v1

2022년 5월 3일

This is an indicator for those subscribed to the Crash Course Trading Programme. It shows where the VWAP is in relation to current price action.
It is recommended you open this heat map using the TV trading view desktop and display it on one tab. It is also recommended you keep it on the EURUSD tab.

For all currency pairs it picks up the price action and volume from OANDA so you dont have to scan these charts looking for trades. It is strongly recommended you use OANDA as this has volume within the signal which is necessary to calculate the VWAP.

It covers the following forex pairs and these are in each column designated by the corresponding two letter abbreviation:
CLMN
1. EU – EURUSD
2. EG – EURGBP
3. EC – EURCHF
4. GU – GBPUSD
5. AU – AUDUSD
6. UJ – USDJPY
7. UC – USDCHF
8. AJ – AUDJPY
9. UL – USDCAD – L stands for Loonie
10. NU – NZDUSD
11. GJ – GBPJPY
12. EA – EURAUD
13. AL – AUDCAD – L stands for Loonie

Price action is at the VWAP when the column cell is bellow as indicated by the yellow box on the left hand side of the heatmap.
If the cell is red, it means that price action is below the VWAP.

If the cell is green, it means that the price is above the VWAP.

The higher it is above or below the VWAP it shows the box being higher or lower than the yellow row and is indicated by +/- Standard Deviation on the left hand side.

The aspects we are looking for are:
1. A gradient.
2. A pullback after price action has passed through the vwap.
3. You need a good reversal bar such as a engulfing / pinbar or high/low test bar or traintracks or day/morning star. These are some examples and you are not limited to just these. If you need help with candlesticks please get in touch and we will cover this to ensure you know what types of candlesticks you are looking for.
4. Look for confirmation with Stochastic RSI 3, 3, 9, 21 or Stoch 5,3,3 or what you like in this regard. It is a momentum indicator and overbought and undersold does apply to it. It indicates the energy that price action has, not necessarily zones where you can sell or buy.
5. Divergence. Again, if you do not fully understand this topic get in touch and we can go through this.

Remember, WITHOUT a gradient you have no trade. If there is no trade there today, that is fine, there is no desperate need to trade straight away.

Please add any comments to how useful you find this or if you would like improvements and I will see what I can do.

2022년 5월 21일

릴리즈 노트

The code has been minimised. This now uses an improved way to calculate the VWAP. It now has additional currency pairs:

EU - EURUSD
EC - EURCHF
EL - EURCAD - L stands for Loonie.
EG - EURGBP
EJ - EURJPY
EA - EURAUD

GU - GBPUSD
GA - GBPAUD
GJ - GBPJPY
GL - GBPCAD

AU - AUDUSD
NU - NZDUSD
UL - USDCAD
UC - USDCHF
UJ - USDJPY

AJ - AUDJPY
AL - AUDCAD

In addition to more pairs, this version also has a gradient associated with it. The purple line represents the VWAP position for each currency, and the red and green bars above below represent the "distance" above or below the VWAP. You are looking for the first rebound as an entry. Wait for your trade and ensure you have a gradient.

More improvements will be coming.

2022년 5월 21일

릴리즈 노트

updated picture to show Heatmap working correctly.

2022년 5월 21일

릴리즈 노트

bug fixes...

2022년 10월 7일

릴리즈 노트

Added yellow bars to represent the Standard Deviation away from VWAP - added a colour change to a good gradient and changed everything to the 1 min chart. Reduced the security information by half and made the code much more efficient. So should work much better.