OPEN-SOURCE SCRIPT

VXN VWAP & TWAP

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This indicator is based on other open source scripts. It's designed for trading Nasdaq futures (NQ and MNQ). It provides directional guidance by combining the VXN index (CBOE Nasdaq Volatility Index) with VWAP and TWAP.

- VXN: Helps assess market volatility and sentiment for Nasdaq futures. A 1-period EMA and 200-period SMA of VXN are used to determine bullish (EMA < SMA) or bearish (EMA > SMA) conditions, visualized via background color.

- VWAP: Calculates the volume-weighted average price, serving as a dynamic support/resistance level. Its direction (rising or falling) indicates bullish or bearish momentum.

- TWAP: Calculates the time-weighted average price over a user-defined anchor period, useful for identifying average price trends over time.

Usage: Traders should align their trades with the direction of VWAP and TWAP (green for bullish, red for bearish) and use the VXN EMA vs. SMA crossover to confirm market sentiment (green background for bullish, red for bearish).

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