OPEN-SOURCE SCRIPT

Fallback VWAP (No Volume? No Problem!) – Yogi365

134
Fallback VWAP (No Volume? No Problem!) – Yogi365
This script plots Daily, Weekly, and Monthly VWAPs with ±1 Standard Deviation bands. When volume data is missing or zero (common in indices or illiquid assets), it automatically falls back to a TWAP-style calculation, ensuring that your VWAP levels always remain visible and accurate.

Features:
Daily, Weekly, and Monthly VWAPs with ±1 Std Dev bands.
Auto-detection of missing volume and seamless fallback.
Clean, color-coded trend table showing price vs VWAP/bands.
Uses hlc3 for VWAP source.
Labels indicate when fallback is used.

Best Used On:
Any asset or index where volume is unavailable.
Intraday and swing trading.
Works on all timeframes but optimized for overlay use.

How it Works:
If volume == 0, the script uses a constant fallback volume (1), turning the VWAP into a TWAP (Time-Weighted Average Price) — still useful for intraday or index-based analysis.
This ensures consistent plotting on instruments like indices (e.g., NIFTY, SENSEX,DJI etc.) which might not provide volume on TradingView.

Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.