MACD VWAP Indicator

This indicator uses a combination of the VWAP, EMA 9 and parts of the MACD in order to detect a bullish or bearish trend.

How to trade it:

Set SL either below or above the VWAP line (orange) and TP to 1:1.5 ratio (depending on last few candles, of course).
If EMA200 is close by then place SL either below or above EMA200 (blue) and TP to 1:1.5 ratio

Important:

Best traded in 15M, 30M => Intraday.

Have fun! :)

Release Notes

Created a new V2 of the script, currently as BETA.

New features:

Only prints BUY if above EMA 200
Only prints SELL if below EMA 200
Shows SL and TP directly in the chart (default ratio 1:1.5 - can be changed in settings)
Allows to show the lines of the last signals (default off; pretty messy, only use it to backtest)
More alerts possible (just click on the indicator dots to create an alert (or double-click the indicator))

Please use it with caution and try to stay on lower time frames (15M/30M).

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.

mastixmc

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

mastixmc