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[PX] VWAP Gap Level

Hello guys,

another day, another method for detecting support and resistance level. This time it's all about the VWAP and daily gaps it might produce.

How does it work?

The indicator detects when a new daily candle begins and the VWAP makes a big move in either direction. Often it produces a gap and this is where the support or resistance level will be plotted. The idea behind it is, that those gaps get filled at some point in time. You can control how big a VWAP movement ("gap") has to be with the "VWAP Movement %"-setting. Also, you can adjust the style of the level.

If you find this indicator useful, please leave a "like" and hit that "follow" button :)

Have fun and happy trading :)))
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http://www.pascal-simon.de - Custom indicator development

Comments

it look great,thank you for share your code,i do have two suggestions for you. hope it can make this indicator more perfect.
1.can you add alert for this when close crossover or crossunder of that line
2.can you add new label for each line,so we can see the eachline value
i am not so familiar with tradingview new label function, hope you can add those two function to
it,really appreciate it
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Thanks much for this indicator, it's enabled and can see the deatils on crypto. But when I apply on stocks , cant see anything. Could you please help if I have change anything in the indicator
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