PROTECTED SOURCE SCRIPT
Palace BWAL signals
Key Features:
1. VWAP Calculation: Uses hlc3 (typical price = `(high + low + close)/3`) as the input for the VWAP.
2. 20-period EMA: Standard exponential moving average of closing prices.
3. Combined Line: The bothWorldsLine is the arithmetic mean of VWAP and EMA20.
4. Visuals: Plotted as a thick red line for clear visibility.
### How to Use:
1. Add this script to a 1-minute ES futures chart.
2. The line dynamically balances intraday sentiment (VWAP) with short-term momentum (EMA20).
3. Use it to identify:
- Support/Resistance: Price often reacts near this line.
- Trend Bias: Price above the line suggests bullish bias; below indicates bearish bias.
- Mean Reversion: Fades when price deviates excessively from the line.
### Example:
- Bullish Confirmation: Price holds above the line while VWAP & EMA20 are rising.
- Bearish Rejection: Price rejects the line with volume during a downtrend.
This line combines the strengths of VWAP (volume-weighted context) and EMA20 (responsiveness) into a single powerful indicator.
1. VWAP Calculation: Uses hlc3 (typical price = `(high + low + close)/3`) as the input for the VWAP.
2. 20-period EMA: Standard exponential moving average of closing prices.
3. Combined Line: The bothWorldsLine is the arithmetic mean of VWAP and EMA20.
4. Visuals: Plotted as a thick red line for clear visibility.
### How to Use:
1. Add this script to a 1-minute ES futures chart.
2. The line dynamically balances intraday sentiment (VWAP) with short-term momentum (EMA20).
3. Use it to identify:
- Support/Resistance: Price often reacts near this line.
- Trend Bias: Price above the line suggests bullish bias; below indicates bearish bias.
- Mean Reversion: Fades when price deviates excessively from the line.
### Example:
- Bullish Confirmation: Price holds above the line while VWAP & EMA20 are rising.
- Bearish Rejection: Price rejects the line with volume during a downtrend.
This line combines the strengths of VWAP (volume-weighted context) and EMA20 (responsiveness) into a single powerful indicator.
Skrip dilindungi
Skrip ini diterbitkan sebagai sumber tertutup. Akan tetapi, anda boleh menggunakannya dengan percuma dan tanpa had – ketahui lebih lanjut di sini.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Skrip dilindungi
Skrip ini diterbitkan sebagai sumber tertutup. Akan tetapi, anda boleh menggunakannya dengan percuma dan tanpa had – ketahui lebih lanjut di sini.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.