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
ZWAP
A Pine v4 indicator in a separate pane that computes a z-score of price against a volume-weighted average price over a chosen length, 20 bars by default, then smooths it with an exponential average.
GitHub stars1on the repository
Pine versionv4older, still runs
Lines of code31
Settings6inputs
LicenceNone statedfile: MPL-2.0
Last update3 years ago19 Mar 2023
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
31 lines of Pine Script v4 from TradingView_old/2022/tykhe/ZWap.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
//@version=4
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © Tykhe_Ideas
study("ZWAP", shorttitle="ZWAP")
length = input(20)
smoothness = input(1)
calc_zvwap(pds) =>
mean = sum(volume * close, pds) / sum(volume, pds)
vwapsd = sqrt(sma(pow(close - mean, 2), pds))
(close - mean) / vwapsd
plot(0)
upperTop = input(2.5)
upperBottom = input(2.0)
lowerTop = input(-2.5)
lowerBottom = input(-2.0)
plot(1, style=3, color=color.gray)
plot(-1, style=3, color=color.gray)
ul1 = plot(upperTop, "OB High")
ul2 = plot(upperBottom, "OB Low")
fill(ul1, ul2, color=color.red)
ll1 = plot(lowerTop, "OS High")
ll2 = plot(lowerBottom, "OS Low")
fill(ll1, ll2, color=color.green)
wvap_smoothness = ema(calc_zvwap(length), smoothness)
plot(wvap_smoothness, title="ZVWAP", color=color.black, linewidth=2)
Overview
Shaded bands mark overbought and oversold zones, by default between 2 and 2.5 and between negative 2 and negative 2.5, with dotted lines at 1 and negative 1. Band levels, length and smoothness are inputs.
- Z-score of price versus rolling VWAP
- Shaded overbought and oversold bands
- Adjustable length and smoothing
- Reference lines at plus and minus one
Details
Published by
nvFede on GitHub
Code credit
Tykhe_Ideas, as written in the script's header
Type
Indicator, Pine Script v4
Draws
Separate pane below the chart
Category
Mean reversion, Volume
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 | 20 | length |
| smoothness | int | 1 | smoothness |
| upperTop | float | 2.5 | upperTop |
| upperBottom | float | 2.0 | upperBottom |
| lowerTop | float | -2.5 | lowerTop |
| lowerBottom | float | -2.0 | lowerBottom |
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.
Similar Pine Scripts
An indicator in a separate pane that works on the average of open and close and an anchored volume weighted average price. The VWAP and optional standard deviation bands are drawn on the price chart, with a settable multiplier and anchor period, daily by defau
A fractional differencing Z-score oscillator in a separate pane, set up for testing optional entry filters on five-minute Nasdaq futures charts. Signal modes include the base snapback, a volume-exhaustion mode, a conservative mode and an early mode. Filters co
This indicator plots an anchored MIDAS support and resistance curve from launch-anchored volume-weighted price on the price chart. It adds two configurable volume-weighted standard-deviation, ATR, or hybrid bands and a topfinder or bottomfinder accelerated exh
VWAP Trader NXi calculates a daily session-anchored Volume Weighted Average Price along with two custom standard deviation bands on the main price chart. It plots the core VWAP, Value Area bands, outer extension zones with background shading, and the previous
This indicator identifies long mean-reversion trade opportunities when price stretches significantly below the Volume Weighted Average Price (VWAP). It triggers a signal during regular trading hours when price moves a defined minimum number of ticks below VWAP
Trade Your Charts With a Regulated Broker
Compare brokers that connect to TradingView, with spreads, minimum deposits and leverage side by side.
Compare brokers