WHTVC Compound VEMA

A different take on the original Wick Hunter VWAP indicator aiming to find higher quality trades by allowing trades when the entry condition is met in several different periods.

Designed to be used with the Wick Hunter TradingView Companion bot.

• VEMA is a moving average that is both volume weighted exponentially weighted for smooth curves that still react quickly to high volume movements. It is similar to VWMA (or VWAP).
  The indicator calculates the VEMA for 6 different periods, and long/short offsets for each period. Alerts are triggered only when all 6 conditions are met.
  
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  "m0 Period" and "m5 Period" are the shortest and longest periods used, and 4 other periods are interpolated using these two periods.
  "m0 Offset Above (short), %" and "m5 Offset Above (short), %" are the % offsets required to trigger a short entry for each of the periods, and the offsets for the other 4 periods are interpolated from these two offsets.
  

Sürüm Notları:

Description update only (Messed up the description on the first publish and I can't change it)

A different take on the original Wick Hunter VWAP indicator aiming to find higher quality trades by allowing trades when the entry condition is met in several different periods.

Designed to be used with the Wick Hunter TradingView Companion bot.

• VEMA is a moving average that is both volume weighted exponentially weighted for smooth curves that still react quickly to high volume movements. It is similar to VWMA/VWAP.
  
  
• The indicator calculates the VEMA for 2 different periods (m0 and m1) and EMA for 4 periods (m2 through to m5), and long/short offsets for each period. Alerts are triggered only when all 6 conditions are met.
  
  
• "m0 Period" and "m5 Period" are the shortest and longest periods used, and 4 other periods are interpolated using these two periods.
  
  
• "m0 Offset Above (short), %" and "m5 Offset Above (short), %" are the % offsets required to trigger a short alert for each of the periods, and the offsets for the other 4 periods are interpolated from these two offsets.
  
  
• "m0 Offset Below (long), %" and "m5 Offset Below (long), %" are the % offsets required to trigger a long alert for each of the periods, and the offsets for the other 4 periods are interpolated from these two offsets.
  
  
• The indicator does not repaint - all alerts are triggered from previous bar data. Therefore, it is best to set alerts on a high resolution chart - such as 1 minute.
  
  
• The chart curves stay in a similar place when the chart resolution is changed - this is to allow the user to set up the indicator on a high resolution chart and then zoom out to view the historical volatility easier. Alerts should still be triggered from a high resolution chart.
  
  
• Wick Hunter users that use a high TF setup (exmaple: 1h/14 VWAP, 10% offsets) may benefit from triggering trades using this indicator instead as you may find sometimes that entire candles drift outside of the "VWAP band" and your 2nd, 3rd, etc. entry points are not ideal. This indicator may improve those entries. For instance, m0 period: 60 min, m5 period: 1000 min, m0 offsets: 1%, m5 offsets: 10%. Plot both and see.
  
  
• Wick Hunter users that use a low TF setup (exmaple: 15min/5 VWAP, 4% offsets) may benefit from triggering trades using this indicator instead as you may sometimes find yourself counter-trading a retracement and get bagged. This indicator can block some of the bad entries. For instance, m0 period: 90 min, m5 period: 840 min, m0 offsets: 4%, m5 offsets: 1%. Plot both and see.
  
  
• Trades should be triggered "Once Per Bar" and NOT "Once Per Bar Close" to ensure you catch the wicks.