Trend and Key Levels combined with Barcolor VTREND
The Trend and Key Levels combined with Barcolor is designed to be used more on higher timeframes, 1 hour and above to show long term trend by volume weighted moving average. And allowing you to play entries off key levels. This script will not be useful on the daily or weekly timeframes if you are using the key levels.
This script changes barcolor eitherside of the volume weighted moving average to show bull or bear trend. You can see the price action at this timeframe of 1 hour, respects the volume weighted moving average as support and resistance.
The key levels to play off are the daily levels in orange, a close above results in a candle color of purple, a close below the daily open results in a candle color of maroon.
Included as levels, are the weekly, monthly and yearly.
Included are alerts for the candle color change for the daily alerts and change of trend green to red.
I hope you find this script useful!
This script changes barcolor eitherside of the volume weighted moving average to show bull or bear trend. You can see the price action at this timeframe of 1 hour, respects the volume weighted moving average as support and resistance.
The key levels to play off are the daily levels in orange, a close above results in a candle color of purple, a close below the daily open results in a candle color of maroon.
Included as levels, are the weekly, monthly and yearly.
Included are alerts for the candle color change for the daily alerts and change of trend green to red.
I hope you find this script useful!