Sina VWAP: Multi-Timeframe Highs and Lows with VWAP Integration This custom Pine Script indicator, "Sina VWAP," combines the visualization of significant highs and lows from multiple timeframes with a Volume-Weighted Average Price (VWAP) overlay for enhanced market analysis. It is designed for traders seeking precision in identifying support and resistance zones, while also benefiting from the dynamic nature of VWAP.
Features: Highs & Lows Visualization:
Timeframes Supported: Daily, Weekly, Monthly, Quarterly, 3-Month, 6-Month, and 12-Month. Custom Line Styles: Configure line styles (solid, dashed, dotted) and widths for each timeframe. Color & Transparency Settings: Adjust colors and transparency for easy chart readability. Projections: Extend previous highs and lows into the future for predictive insights. Gradient Option: Highlight recency of highs and lows using a color gradient for improved visual interpretation. VWAP Overlay:
Calculate and display Volume-Weighted Average Price to track dynamic market trends. Optional standard deviation bands for added statistical context around the VWAP. Dynamic Adjustments:
Automatically updates with new data points across selected timeframes. Optimized for intraday and longer-term analysis. Custom Lookback Periods:
Define how many historical highs and lows to retain for each timeframe. Automatically remove outdated levels to keep the chart clean and uncluttered. How It Works: The indicator requests data from multiple timeframes using the request.security function to capture highs and lows. These levels are then plotted on the chart, with options to extend their projections into the future for planning trades.
The VWAP component dynamically adapts to current price action, providing traders with an additional edge in identifying trend directions and reversal zones.
Settings Overview: Highs & Lows:
Enable/disable levels for each timeframe. Customize line styles, colors, and transparency for distinct visualization. VWAP:
Enable/disable VWAP overlay. Configure standard deviation bands for additional context. Style:
Adjust gradient intensity for recent highs/lows. Set projection offset to control the extension of lines into the future. Use Cases: Intraday Trading: Utilize daily and weekly levels to pinpoint short-term support/resistance zones. Swing Trading: Leverage monthly and quarterly levels for mid-term price targets. Long-Term Analysis: Identify strategic zones using 6-month and 12-month levels.