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Volume Weighted MACD Oscillator

patternrcg Updated   
Oscillators Volume Weighted Moving Average (VWMA) Centered Oscillators
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oscillator vwma centeredoscillator
This oscillator plots volume weighted convergence/divergence from the 20, 50 and 200 tick MA's. I wanted to build another way to look at the data I saw being generated in my first script.
Release Notes:
When cleaning up the script, I saw that while I based the script off a MACD plot, that it actually charts price variance between the VWMA and the SMA.

The script is currently set to show as "Volume Weighted Price Oscillator". I see a few options here: Plot the MACD histogram and lines into script .. or update the name.
Release Notes:
This update now shades based only if the trend is expanding to help chart the strength of the price action.

When the trend starts to contract ( no shading for several bars in a row) it is generally the beginning of a squeeze.
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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