Latest Updates:
- 2016-02-04; v1.47: Performance enhancements implemented.
- 2016-01-15; v1.46: Performance improvements made.
- 2015-12-31; v1.45: Refined for better performance.
- 2015-12-31; v1.44: Enhanced performance.
- 2015-12-31; v1.43: Upgraded for better efficiency.
- 2015-12-26; v1.42: Performance tweaks applied.
- 2015-12-26; v1.41: Minor adjustments for performance boost.
- 2015-12-24; v1.40: Initial release to the public.
The Volume Weighted Average Price (VWAP) is a vital tool for day traders and institutional investors alike. It's primarily used to gauge where a stock is trading in relation to its average price weighted by volume throughout the day. Traders often rely on VWAP to determine market direction and refine their trade signals. Before jumping in, it’s crucial to grasp how VWAP is calculated, how to interpret its signals, and recognize its limitations. For a deeper dive, check out this fantastic resource on the topic: Understanding VWAP.
This VWAP indicator is derived from Investopedia's comprehensive guide. You can find it here: Trading with VWAP.
I've enhanced this indicator by adding six lines. The main one is the VWAP Daily, which provides calculations based on intra-day values. The additional five lines allow you to customize the calculation period, whether shorter or longer than the daily timeframe.
Each of the six lines operates independently. By default, only the intra-day line is activated, but feel free to enable the others in the properties panel to suit your trading style.
Thank you for downloading this code! I'm eager to hear your thoughts, and please don't forget to leave a rating.
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