Kijun-Sen + VWap

The Kijun-Sen + VWap indicator combines trend-following logic with volume-weighted analysis to help traders identify key support/resistance levels and significant market activity.

Usage

The tool is primarily used to identify trend direction and potential reversals through the interaction of the Kijun-Sen line and the Volume Weighted Average Price (VWAP). Traders can look for crossovers between these two lines as signals of shifting momentum. Additionally, the indicator features a dynamic bar coloring system based on volume intensity. By calculating how many standard deviations the current volume is from its moving average, the script highlights bars with extra high, high, medium, normal, or low volume relative to the recent past.

Details

The Kijun-Sen component is calculated as the midpoint of the highest high and lowest low over a user-defined period, serving as a robust measure of medium-term trend. The VWAP provides a benchmark for the average price paid for an asset over the session, weighted by volume. The volume analysis utilizes a Standardized Volume Index (Z-Score approach), where the current volume is compared against a Simple Moving Average (SMA) and Standard Deviation of volume. This allows the script to categorize every candle into specific volume tiers, making it easier to spot institutional activity or exhaustion.

Settings

• Kijun-Sen Length: The lookback period used to calculate the Kijun-Sen (midpoint of highest/lowest prices).
• MA Volume Length: The period used for the Simple Moving Average and Standard Deviation of volume.
• Extra High Volume Threshold: The Z-score multiplier for identifying exceptionally high volume bars.
• High Volume Threshold: The multiplier for identifying high volume bars.
• Medium Volume Threshold: The multiplier for identifying moderate volume bars.
• Normal Volume Threshold: The multiplier for identifying baseline volume levels.

FAQ

How do I interpret the bar colors?

The bar colors represent volume intensity relative to the historical average. Red tones typically indicate high or extra high volume, blue/gray tones represent medium to normal volume, and green tones signify low volume relative to the settings.

What do the red and blue lines represent?

The red line is the Kijun-Sen, which represents the trend midpoint. The blue line is the VWAP, representing the volume-weighted average price.

How can I access Kijun-Sen + VWap?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.