OPEN-SOURCE SCRIPT
Sakthi VWAP
Sakthi VWAP Indicator
The "Sakthi VWAP" is a custom technical analysis indicator designed for use on TradingView. It calculates the Volume-Weighted Average Price (VWAP) and identifies bullish and bearish price action relative to the VWAP.
Key Features:
VWAP Calculation: The indicator computes the VWAP based on the closing price, representing the average price of a security adjusted for its volume throughout the trading day.
Bullish and Bearish Logic:
If the closing price is above the VWAP, it signals a bullish condition (highlighted by red circles).
If the closing price is below the VWAP, it signals a bearish condition (highlighted by green circles).
Max Price Calculation: The indicator tracks the highest closing price during the session and stores it for later reference.
Base Calculation: A midpoint is calculated as the average of bullish and bearish values, which can be used for further analysis.
Alert Conditions: The script includes alert conditions for bullish and bearish signals, notifying the trader when the price crosses above or below the VWAP.
This script is ideal for traders looking to spot market trends based on VWAP while providing clear visual cues for bullish or bearish conditions. Alerts help automate the decision-making process, keeping traders informed about significant price movements.
The "Sakthi VWAP" is a custom technical analysis indicator designed for use on TradingView. It calculates the Volume-Weighted Average Price (VWAP) and identifies bullish and bearish price action relative to the VWAP.
Key Features:
VWAP Calculation: The indicator computes the VWAP based on the closing price, representing the average price of a security adjusted for its volume throughout the trading day.
Bullish and Bearish Logic:
If the closing price is above the VWAP, it signals a bullish condition (highlighted by red circles).
If the closing price is below the VWAP, it signals a bearish condition (highlighted by green circles).
Max Price Calculation: The indicator tracks the highest closing price during the session and stores it for later reference.
Base Calculation: A midpoint is calculated as the average of bullish and bearish values, which can be used for further analysis.
Alert Conditions: The script includes alert conditions for bullish and bearish signals, notifying the trader when the price crosses above or below the VWAP.
This script is ideal for traders looking to spot market trends based on VWAP while providing clear visual cues for bullish or bearish conditions. Alerts help automate the decision-making process, keeping traders informed about significant price movements.
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