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Price vs VWAP Performance

Price vs VWAP Performance (PvVWAP)
This indicator visually displays the deviation between the current price and VWAP (Volume Weighted Average Price), helping you to determine the strength of a trend.
How it Works
VWAP Calculation: Calculates the Volume Weighted Average Price (VWAP) over a specified period.
Standard Deviation Calculation: Calculates the standard deviation of closing prices over the past 20 periods.
Deviation Calculation: Calculates the difference between the current price and VWAP, expressed as a multiple of the standard deviation.
Color Assignment: Changes the color of bars and background based on the magnitude of the deviation.
Green: Very strong uptrend
Light Green: Strong uptrend
Light Gray: No trend
Pinkish Red: Weak downtrend
Red: Very strong downtrend
How to Use
Trend Strength Assessment:
The greater the deviation of the price from VWAP, the stronger the trend is considered to be.
The color of the bars and background provides a visual indication of trend strength.
Entry/Exit Point Reference:
You can enter/exit by aiming for the movement of the price returning to VWAP after a large deviation from VWAP.
Notes
Parameter Settings:
The standard deviation period is 20 periods by default, but can be adjusted as needed.
Avoid Using Alone:
It is recommended to use this indicator in combination with other technical indicators.
This indicator visually displays the deviation between the current price and VWAP (Volume Weighted Average Price), helping you to determine the strength of a trend.
How it Works
VWAP Calculation: Calculates the Volume Weighted Average Price (VWAP) over a specified period.
Standard Deviation Calculation: Calculates the standard deviation of closing prices over the past 20 periods.
Deviation Calculation: Calculates the difference between the current price and VWAP, expressed as a multiple of the standard deviation.
Color Assignment: Changes the color of bars and background based on the magnitude of the deviation.
Green: Very strong uptrend
Light Green: Strong uptrend
Light Gray: No trend
Pinkish Red: Weak downtrend
Red: Very strong downtrend
How to Use
Trend Strength Assessment:
The greater the deviation of the price from VWAP, the stronger the trend is considered to be.
The color of the bars and background provides a visual indication of trend strength.
Entry/Exit Point Reference:
You can enter/exit by aiming for the movement of the price returning to VWAP after a large deviation from VWAP.
Notes
Parameter Settings:
The standard deviation period is 20 periods by default, but can be adjusted as needed.
Avoid Using Alone:
It is recommended to use this indicator in combination with other technical indicators.
오픈 소스 스크립트
진정한 트레이딩뷰 정신에 따라 이 스크립트 작성자는 트레이더가 기능을 검토하고 검증할 수 있도록 오픈소스로 공개했습니다. 작성자에게 찬사를 보냅니다! 무료로 사용할 수 있지만 코드를 다시 게시할 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.
오픈 소스 스크립트
진정한 트레이딩뷰 정신에 따라 이 스크립트 작성자는 트레이더가 기능을 검토하고 검증할 수 있도록 오픈소스로 공개했습니다. 작성자에게 찬사를 보냅니다! 무료로 사용할 수 있지만 코드를 다시 게시할 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.