mikeram1971

My VWAP Reversal + Pivot Points Standard

This indicator, with the addition of a standard VWAP indicator to the 5m chart, helps the operator when using a closing candle Price to initiate a VWAP Reversal strategy.

The strategy involves Price gapping up, look for a Close below the 1st 5m candle Low; else look for a Close above the 1st 5m candle High. On a break of VWAP , take the trade in the opposite direction of the gap, hence the VWAP Reversal. Not my own strat, credit to T3 Newsbeat, publicly posted on YouTube.

The Pivot Points Standard in the Pine 4 user manual, was the base source code, and leaving it here will allow me to remove the PP indicator I was using.

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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