D/W/M VWAPs: Free TradingView Indicator (Pine Script)

Add It to Your TradingView Chart

1Copy the scriptPress Copy script above, or the copy button on the code below.
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

96 lines of Pine Script v4 from dwm_vwap_bands.pine, published under GPL-3.0. Keep the author's credit and licence lines when you reuse it.

dwm_vwap_bands.pine

// Daily, Weekly and Monthly VWAP with Standard Deviation Bands

//@version=4
study("D/W/M VWAPs", overlay=true)

d = input(true, title="Show Daily VWAP")
// dcolor = input(color.gray, type=input.color, title="Daily VWAP Color")
dshowdev = input(true, title="Show Daily VWAP St Dev Band")
w = input(true, title="Show Weekly VWAP")
wshowdev = input(true, title="Show Weekly VWAP St Dev Band")
m = input(true, title="Show Monthly VWAP")
mshowdev = input(true, title="Show Monthly VWAP St Dev Band")
hc = input(true, title="Hide in Own Time Frame")
src = input(title = "Source", type = input.source, defval = hlc3)
stdev1 = input(1.51, title="St Dev")
stdev2 = input(2.51, title="St Dev")

getVwap(period) =>
    t = time(period)
    start = na(t[1]) or t > t[1]
    float[] result = na
    sumSrc = src * volume
    sumVol = volume
    sumVol2 = volume * volume
    sumSrc := start ? sumSrc : sumSrc + sumSrc[1]
    sumVol := start ? sumVol : sumVol + sumVol[1]
    xvwap = sumSrc / sumVol
    sumVol2 := start ? volume*src*src : sumVol2[1]+volume*src*src
    dev = sqrt(max(sumVol2/sumVol - xvwap*xvwap, 0))   
    [xvwap, dev]
    

dvwap = float(na)
dvwapUp1 = float(na)
dvwapUp2 = float(na)
dvwapDn1 = float(na)
dvwapDn2 = float(na)
wvwap = float(na)
wvwapUp1 = float(na)
wvwapUp2 = float(na)
wvwapDn1 = float(na)
wvwapDn2 = float(na)
mvwap = float(na)
mvwapUp1 = float(na)
mvwapUp2 = float(na)
mvwapDn1 = float(na)
mvwapDn2 = float(na)

if (d and timeframe.isintraday and timeframe.period != '60' and timeframe.period != '120' and timeframe.period != '240' and timeframe.period != '720')
    [xvwap, dev] = getVwap("D")
    dvwap := xvwap
    if (dshowdev)
        dvwapUp1 := xvwap + stdev1 * dev
        dvwapDn1 := xvwap - stdev1 * dev
        dvwapUp2 := xvwap + stdev2 * dev
        dvwapDn2 := xvwap - stdev2 * dev
if (w and not timeframe.isdaily and not (hc and timeframe.isweekly) and not timeframe.ismonthly)
    [xvwap, dev] = getVwap("W")
    wvwap := xvwap
    if (wshowdev)
        wvwapUp1 := xvwap + stdev1 * dev
        wvwapDn1 := xvwap - stdev1 * dev
        wvwapUp2 := xvwap + stdev2 * dev
        wvwapDn2 := xvwap - stdev2 * dev
if (m and not (hc and timeframe.ismonthly))
    [xvwap, dev] = getVwap("M")
    mvwap := xvwap
    if (mshowdev)
        mvwapUp1 := xvwap + stdev1 * dev
        mvwapDn1 := xvwap - stdev1 * dev
        mvwapUp2 := xvwap + stdev2 * dev
        mvwapDn2 := xvwap - stdev2 * dev
plot(dvwap, title="Daily VWAP", color=color.gray)
DU1=plot(dvwapUp1, title="Daily VWAP Upper Band 1", color=color.gray)
DD1=plot(dvwapDn1, title="Daily VWAP Upper Band 2", color=color.gray)
DU2=plot(dvwapUp2, title="Daily VWAP Lower Band 1", color=color.gray)
DD2=plot(dvwapDn2, title="Daily VWAP Lower Band 2", color=color.gray)
fill(DU1, DU2, color=color.gray, transp=93, title="Daily Over Bought Fill")
fill(DD1, DD2, color=color.gray, transp=93, title="Daily Over Sold Fill")
fill(DU2, DD2, color=color.gray, transp=93, title="Daily Inner Fill")
plot(wvwap, title="Weekly VWAP", color=color.orange)
WU1=plot(wvwapUp1, title="Weekly VWAP Upper Band 1", color=color.orange)
WD1=plot(wvwapDn1, title="Weekly VWAP Upper Band 2", color=color.orange)
WU2=plot(wvwapUp2, title="Weekly VWAP Lower Band 1", color=color.orange)
WD2=plot(wvwapDn2, title="Weekly VWAP Lower Band 2", color=color.orange)
fill(WU1, WU2, color=color.orange, transp=93, title="Weekly Over Bought Fill")
fill(WD1, WD2, color=color.orange, transp=93, title="Weekly Over Sold Fill")
plot(mvwap, title="Monthly VWAP", color=color.red)
MU1=plot(mvwapUp1, title="Monthly VWAP Upper Band 1", color=color.red)
MD1=plot(mvwapDn1, title="Monthly VWAP Upper Band 2", color=color.red)
MU2=plot(mvwapUp2, title="Monthly VWAP Lower Band 1", color=color.red)
MD2=plot(mvwapDn2, title="Monthly VWAP Lower Band 2", color=color.red)
fill(MD1,MU1, color=color.red, transp=93, title="Monthly Inner Band")
fill(MU1, MU2, color=color.red, transp=93, title="Monthly Over Bought Fill")
fill(MD1, MD2, color=color.red, transp=93, title="Monthly Over Sold Fill")
fill(WU2, WD2, color=color.gray, transp=93, title="Weekly Inner Fill")

Overview

For each enabled period it also draws two standard-deviation bands around the VWAP, with multipliers defaulting to 1.51 and 2.51, and fills the areas between those bands. Toggles show or hide each VWAP and its bands, and an option can hide a VWAP on its own timeframe. Daily VWAP is limited to selected intraday charts. It does not generate entries, exits, or stop levels.

Daily, weekly and monthly VWAP lines
Two standard-deviation bands per period
Show and hide toggles for each period
Optional hide on the matching timeframe
Fills between upper and lower bands

Details

Published by

cryptorife on GitHub

Type

Indicator, Pine Script v4

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

dwm_vwap_bands.pine

Repository

github.com/cryptorife/pine-scripts. See its other scripts in the library

Settings

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

Setting	Type	Default	Variable
Show Daily VWAP	`bool`	`true`	`d`
Show Daily VWAP St Dev Band	`bool`	`true`	`dshowdev`
Show Weekly VWAP	`bool`	`true`	`w`
Show Weekly VWAP St Dev Band	`bool`	`true`	`wshowdev`
Show Monthly VWAP	`bool`	`true`	`m`
Show Monthly VWAP St Dev Band	`bool`	`true`	`mshowdev`
Hide in Own Time Frame	`bool`	`true`	`hc`
Source	`source`	`hlc3`	`src`
St Dev	`float`	`1.51`	`stdev1`
St Dev	`float`	`2.51`	`stdev2`

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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