OPEN-SOURCE SCRIPT
Updated Volume-Weighted Kaufman's Adaptive Moving Average
The Volume-Weighted Kaufman's Adaptive Moving Average (VW-KAMA) is a technical indicator that combines the Volume-Weighted Moving Average (VWMA) and the Kaufman's Adaptive Moving Average (KAMA) to create a more responsive and adaptable moving average.
Advantages:
Volume-Weighted: It takes into account the volume of trades, giving more weight to periods with higher trading volume, which can help filter out periods of low activity.
Adaptive: The indicator adjusts its smoothing constant based on market conditions, becoming more sensitive in trending markets and less sensitive in choppy or sideways markets.
Versatility: VW-KAMA can be used for various purposes, including trend identification, trend following, and determining potential reversal points and act as dynamic support and resistance level.
Advantages:
Volume-Weighted: It takes into account the volume of trades, giving more weight to periods with higher trading volume, which can help filter out periods of low activity.
Adaptive: The indicator adjusts its smoothing constant based on market conditions, becoming more sensitive in trending markets and less sensitive in choppy or sideways markets.
Versatility: VW-KAMA can be used for various purposes, including trend identification, trend following, and determining potential reversal points and act as dynamic support and resistance level.
Release Notes
Minor coding correctionRelease Notes
updated default lengthsRelease Notes
Based on a suggestion, Include the option to include upper and lower bands based on ATR. The default is not to have any upper and lower bands. Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.