OPEN-SOURCE SCRIPT
VWAP Z-Score Oscillator + Scaled Table
VWAP Z-Score Oscillator + Scaled Table
This indicator calculates the Z-Score of the VWAP (Volume Weighted Average Price) based on your chosen source price and reset period (Session, Week, Month, Quarter, or Year).
The Z-Score represents how many standard deviations the current price is from the VWAP, visualized as an oscillator oscillating between ±3 sigma levels. The indicator also features three standard deviation bands for easy reference.
To enhance readability, a scaled Z-Score is displayed in a clean, minimalistic table on the top right of the indicator panel. This score is linearly capped between -2 and +2, mapping the raw Z-Score values with limits at ±3 sigma for clarity and quick assessment.
Use this tool to identify extreme deviations from the VWAP, which may signal potential reversals or continuation of price trends.
This indicator calculates the Z-Score of the VWAP (Volume Weighted Average Price) based on your chosen source price and reset period (Session, Week, Month, Quarter, or Year).
The Z-Score represents how many standard deviations the current price is from the VWAP, visualized as an oscillator oscillating between ±3 sigma levels. The indicator also features three standard deviation bands for easy reference.
To enhance readability, a scaled Z-Score is displayed in a clean, minimalistic table on the top right of the indicator panel. This score is linearly capped between -2 and +2, mapping the raw Z-Score values with limits at ±3 sigma for clarity and quick assessment.
Use this tool to identify extreme deviations from the VWAP, which may signal potential reversals or continuation of price trends.
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.