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Old 11-06-2007, 12:54 AM   #1

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VWAP gradient

Hi I am having fun with gradient colors now.

This paintbar examines absolute distance from the VWAP. It calibrates as the day moves on, so best as a short term intraday indicator.

any suggestions on improvement?
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File Type: eld VWAP GRADIENT.ELD (4.8 KB, 52 views)
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Old 11-06-2007, 01:01 AM   #2

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Re: VWAP gradient

Here's a picture. So if you are in the green or neutral color, and are just chopping around there - that would be a good indication that the market is locked in a range.

A strong movement away from VWAP would change to a darker color, and a lightening of that dark color usually indicates a good pullback for entry - if that's your style.
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