Volume weighted KAMA bands with Signals

13 Jan 2021

Overview
KAMA : Kaufmann's Adaptive moving Average if used correctly can help us get good signals to start working on,
This indicator uses 4 different kamas and Vwap for Average weighting
The Average Weight is calulated by

AverageWeight =( VWAP+ Kama1+ Kama2 + Kama3 + Kama4)/5

After the Average Weights are calculated Standard Deviation Bands of 2sigma and a lookback period is Plotted around the Average Weights

Then with the help of a signal generator Rate of change signals are calculated and plotted as Arrows (green and red)

The script comes with Alerts for Long and Short Signals

The yellow boxes you see are the points of standard deviation compressions in the bands


How to use
Use it as a screener, for Long short signals by creating alerts around different securities as you like

Which Timeframe it works
It will work over any timeframe

How to get access
Just add the script to favorites and start using it on your charts (apply it by going to the favorites section when you click Fx icon for indicators)

Thanks to tradingview for providing such an awesome platform