PROTECTED SOURCE SCRIPT
Wick Hunter TV Companion Dynamic VEMA v0.5 (beta)
Wick Hunter TV Companion Dynamic VEMA v0.5 (beta)
For triggering trades on Wick Hunter TV Companion
Indicator is similar to the standard VWAP indicator, however - this adds a level of protection against sudden reversals to not counter-trade retracements. This allows you to trade on a low timeframe while still counter-trend trading the overall trend.
Note that VEMA is a volume weighted EMA (i.e. the moving average is weighted by both volume and recency), and is slightly different to VWMA/VWAP. As recent prices are weighted heavier, a longer period should be used if you want a similar trigger to VWMA/VWAP.
For triggering trades on Wick Hunter TV Companion
Indicator is similar to the standard VWAP indicator, however - this adds a level of protection against sudden reversals to not counter-trade retracements. This allows you to trade on a low timeframe while still counter-trend trading the overall trend.
Note that VEMA is a volume weighted EMA (i.e. the moving average is weighted by both volume and recency), and is slightly different to VWMA/VWAP. As recent prices are weighted heavier, a longer period should be used if you want a similar trigger to VWMA/VWAP.
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