VWATR Multi-Timeframe Ribbon — Indicator by Hamilton_Gilpin

bandsandchannels vwma averagetruerange vwatr mtfanalysis btcusd stocks

This script combines and averages Volume-Weighted Moving Averages in a specific way to make a unique ATR band that expands and retracts based on the volume in the current market.
This indicator allows for viewing up to 4 VWATR Bands on all the major trading timeframes.

This creates support and resistance levels that are fluid enough for traders to use these 4 methods:

- Identify a range to trade between in sideways markets.
- Identify when we are beginning a move(breaking out of the bands and using them as support to trade from).
- During a trend, traders can use higher timeframe VWATR Bands to identify take profits or potential rejection points.
- Identify when a trend may be over(losing the band as support after a breakout).

NOTE: This script will work fine on identifying crypto assets and stocks, but markets with different volume parameters will negatively affect the accuracy of this script.

Release Notes:

Made some additions:
- Optional labels that show you which timeframe each VWATR Band is from.
- Option to change the colors of the VWATR.
These tweaks help traders read the chart a bit easier.

Invite-only script

Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact Hamilton_Gilpin for more information, or follow the author's instructions below.

TradingView does not suggest paying for a script and using it unless you 100% trust its author and understand how the script works. In many cases you can find a good open-source alternative for free in our Community Scripts.

Disclaimer

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Author's instructions

The author of this script can no longer grant access to it. Please don't request access.

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