OPEN-SOURCE SCRIPT
VWMACD Oscillator @shrilss
The VWMACD Oscillator is a unique and innovative trading indicator designed to provide insights into market momentum using the Volume Weighted Moving Average Convergence Divergence (VWMACD) concept. This script amalgamates various elements to offer a comprehensive view of market trends and potential reversal points.
Key Features:
- Fast Period: Adjust the fast moving average period to fine-tune the sensitivity of the indicator to short-term price movements.
- Slow Period: Set the slow moving average period to control the responsiveness of the indicator to longer-term trends.
- Signal Period: Determine the signal line period to smooth out fluctuations and identify potential trade signals.
- Longer Period: Define the longer period to capture extended trends and market cycles.
How it Works:
The VWMACD Oscillator is derived from the convergence and divergence of two volume-weighted moving averages. It combines the volume factor with the source input to create a robust momentum oscillator. The fast and slow moving averages are calculated by weighting the source with the corresponding volume, providing a unique perspective on market strength.
Key Features:
- Fast Period: Adjust the fast moving average period to fine-tune the sensitivity of the indicator to short-term price movements.
- Slow Period: Set the slow moving average period to control the responsiveness of the indicator to longer-term trends.
- Signal Period: Determine the signal line period to smooth out fluctuations and identify potential trade signals.
- Longer Period: Define the longer period to capture extended trends and market cycles.
How it Works:
The VWMACD Oscillator is derived from the convergence and divergence of two volume-weighted moving averages. It combines the volume factor with the source input to create a robust momentum oscillator. The fast and slow moving averages are calculated by weighting the source with the corresponding volume, providing a unique perspective on market strength.
Skrip open-source
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