Medallion Cipher is a separate-pane indicator that combines a four-state hidden Markov model (bull, bear, range, and crisis) with weighted confluence signals. It can include mean reversion, trend, session timing, pattern matching, Hurst exponent, Shannon entro
Indicator · Pine Script v4 · Own pane
VWAP Distance
A Pine v4 indicator in a separate pane that shows how far the close is from a daily-reset volume-weighted average price.
GitHub stars1on the repository
Pine versionv4older, still runs
Lines of code19
Settings1inputs
LicenceNone stated
Last update3 years ago19 Mar 2023
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
VWAP Distance rebuilds VWAP from the chosen source, typical price by default, restarting each day, then plots the close divided by VWAP minus one, so values above zero mean price is above VWAP. A zero line is drawn. The only setting is the price source.
- Close versus daily VWAP as a ratio
- Zero reference line
- Selectable price source
Details
Published by
nvFede on GitHub
Type
Indicator, Pine Script v4
Draws
Separate pane below the chart
Category
Volume, Mean reversion
Markets
Any symbol
Timeframes
M15-H1
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 |
|---|---|---|---|
| src | source | hlc3 | src |
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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