Ever Wondered How can you confidently Identify Reversals / and Trend Direction with Volume ? So this Script will help you out with that!
What I am talking About? 1. Volume Standard Deviations Spikes being Projected Over the Price 2. Dynamic VWAP being Calculated from the Points of extremities in Volume Action {estimated using Standard Deviation Sigma Level}
So, This is how sigma levels of 1sigma, 2sigma and 3sigma will look over the volume
Whenever Volume Spikes through these Sigma Levels, Price Projections are Formed by this Indicator, both on Current Timeframes and Higher Timeframes Prices So, This is what price projection of Volume Sigma Levels (1,2,3sigmas crosses) will look if projected on Same Timeframe period
And This is how they look on chart using Higher Timeframe Period, (Default Higher Time Frame is 60mins, You can tweak as per your convenience)
Once All the Sigmas are projected Over the Price, Dynamic VWAP is calculated from the points where volume crosses current Time Frame 2sigma and 3sigma Levels see,
This helps out in figuring a lot of things in the price volume action! Play with it, and Enjoy!
Amazing and accurate indicator. Cheers to Ankit!! Is there any conclusions that can be drawn when the distance between the dyamic vwap (2 SD and 3 SD) increases so much that it looks like a box? Second question can any conclusions be made regarding the positions of the dynamic vwap being stacked in any particular order (2 SD on top of the 3 SD or 3 SD on top of the 2 SD).
CP2100
⋅
I appreciate your answer to my question.
Levels have different horizontal length. Some are very long from onset point in the left(past) and some are very short. What determine this?
puppybraj
⋅
thanks bro
how to use
Ankit_1618
⋅
@puppybraj, Identify a price action pattern first,
Then the indicator will help you out with validating the price action, with volume,
Try to experiment keeping this in mind
Or if you use technical screener, then
try to conjur the price breakouts with volume levels and dynamic VWAPs