PROTECTED SOURCE SCRIPT
מעודכן

Swing with VWMA

10 164
Script to provide buy and sell signal suggestions on stocks you follow or screen for. You should still use your own stop loss and profit plan if you execute a trade based on signals from this script
This script looks for the EMA crossing above the VWMA for buy signal or EMA crossing below the VWMA for a sell signal
I fill arrays (size set by lookback in settings) with the deltas between the high of the bar and the VWMA and deltas between the low of the day and the VWMA. I use the values in these arrays and pick the highest or lowest value over the lookback period. I adjust the triggers for overbought and oversold in the settings (default is 20% below high or 20% above low) Look for tolerance in setting to adjust.
I use this in conjunction with the market direction script to lower risk. I try to only buy if the market is neutral or in an uptrend.
Note that the oversold shape is yellow for a EMA VWMA cross and red for oversold to highlight the risk. Prices seem to trend in the direction they are going
The numbers being displayed are the 2 moving averages and then the trigger high set point and the current level then trigger low set point and current level. The final 2 are either 1 when action triggered or 0.
הערות שחרור
Added a long range moving average

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