This indicator plots a custom Anchored Volume-Weighted Average Price (VWAP) directly on the price chart along with optional standard deviation bands. Users can anchor the VWAP to standard time periods like sessions, weeks, or months, or to corporate events suc
Indicator · Pine Script v5 · On the chart
Bands Indicator
This indicator plots multiple deviation bands around the volume-weighted moving average and standard deviation.
GitHub stars3on the repository
Pine versionv5runs as is
Lines of code44
Settings3inputs
LicenceNone stated
Last update5 months ago27 May 2026
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
Upper bands R-1 to R-6 and lower bands S-1 to S-6 appear at Fibonacci ratios of the deviation from the mid-line on the price chart. The mid-line is the VWMA of the chosen source. It serves as a visual tool for support and resistance levels with no entry or exit signals. The length setting controls the lookback period while mult adjusts the deviation size. All plots draw directly on the price chart as an overlay.
- Fibonacci deviation bands
- Volume weighted moving average
- Standard deviation bands
- Support resistance levels
- Multi color plots
Details
Published by
g-moe on GitHub
Code credit
goodgains, as written in the script's header
Type
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.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| length | int | 200 | length |
| Source | source | hlc3 | src |
| mult | float | 3.0 | mult |
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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