4Y AVWAP SIP: Free TradingView Indicator (Pine Script)

Add It to Your TradingView Chart

1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.

Source Code

The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.

Overview

4Y AVWAP SIP plots lines for each individual AVWAP, a recency-weighted composite and an equal-weight composite, along with a weekly moving average. Fair-value bands are defined using weekly ATR distances for mild discount, strong discount, deep discount and far-above regions. A SIP allocation table displays percentage adjustments based on current price position relative to the bands. The script draws all elements directly on the price chart with options to show or hide individual components, fills and tints.

4-Year AVWAP
Recency Weighting
Fair-Value Bands
SIP Allocation Table
Weekly ATR Zones

Details

Published by

sidd99-nit on GitHub

Type

Indicator, Pine Script v6

Draws

On the price chart

Markets

Any symbol

Timeframes

Any timeframe

Risk Notes

No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.

File

avap_accumulation.txt

Repository

github.com/sidd99-nit/pineScripts

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

Setting	Type	Default	Variable
VWAP Source	`source`	`hlc3`	`src`
Current Year Weight	`float`	`40.0`	`weightCurrentYear`
Previous Year Weight	`float`	`30.0`	`weightPreviousYear`
Two Years Ago Weight	`float`	`20.0`	`weightTwoYearsAgo`
Three Years Ago Weight	`float`	`10.0`	`weightThreeYearsAgo`
Weekly ATR Length	`int`	`14`	`weeklyATRLength`
Zone 1 Distance: Mild Discount	`float`	`0.5`	`initialZoneATR`
Zone 2 Distance: Strong Discount	`float`	`1.0`	`strongZoneATR`
Zone 3 Distance: Deep Discount	`float`	`1.5`	`deepZoneATR`
Far Above Fair-Value Distance	`float`	`1.5`	`expensiveZoneATR`
Show Individual AVWAPs	`bool`	`true`	`showIndividualAVWAPs`
Show Equal-Weight Composite	`bool`	`true`	`showEqualWeightComposite`

Show all 34 settings

Setting	Type	Default	Variable
Fill Fair-Value Band	`bool`	`true`	`showCentralBandFill`
Show Discount Zone Lines	`bool`	`true`	`showReferenceZones`
Show Weekly Moving Average	`bool`	`true`	`showWeeklyMA`
Weekly Moving Average Length	`int`	`40`	`weeklyMALength`
Show Fair-Value Background Tint	`bool`	`true`	`showValueBackground`
Current Year AVWAP	`color`	`color.aqua`	`colorCurrentYear`
Previous Year AVWAP	`color`	`color.blue`	`colorPreviousYear`
Two Years Ago AVWAP	`color`	`color.orange`	`colorTwoYearsAgo`
Three Years Ago AVWAP	`color`	`color.gray`	`colorThreeYearsAgo`
Recency-Weighted Composite	`color`	`color.aqua`	`colorWeightedComposite`
Equal-Weight Composite	`color`	`color.blue`	`colorEqualComposite`
Weekly Moving Average	`color`	`color.yellow`	`colorWeeklyMA`
Tint Far Above Fair Value	`color`	`color.new(color.red, 82)`	`colorAboveValueTint`
Tint Inside Fair Value	`color`	`color.new(color.gray, 100)`	`colorInsideValueTint`
Tint at Deep Discount	`color`	`color.new(color.green, 55)`	`colorBelowValueTint`
Individual AVWAP Width	`int`	`1`	`individualLineWidth`
Composite Line Width	`int`	`3`	`compositeLineWidth`
Show SIP Allocation Table	`bool`	`true`	`showSipTable`
Minimum SIP % Far Above Fair Value	`float`	`25.0`	`minSipPct`
Normal SIP % Inside Fair Value	`float`	`100.0`	`normalSipPct`
Maximum SIP % at Deep Discount	`float`	`200.0`	`maxSipPct`
Table Position	`string`	`Top Right`	`tablePosition`

Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.

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