Created this script that creates a dynamic VWAP based on Outstanding Shares Turnover.
The outstanding shares turnover is determined by volume. If the volume exceeds outstanding shares over X amount of days, X amount is used as the VWAP period. Also included visually is the Bollinger Bands for price and volatility reference.
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Updated study title
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Added tables as a visual aid for pricing and dynamic period for the trader to take into account when making a trading decision.
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Converted main calculation into a function.
Discovered that the financial() function may not have accurate information, especially for stocks that have gone through reverse merger (aka spacs). Added two optional input variables to override shares outstanding. Setting either one will override the values from financial(). Please verify your date from all sources before relying on this indicator.
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Added option to put in percent of float shares short. This will reduce the turnover time which is used to calculate vwap period. Completely optional, but may be of interest for anyone that cares to evaluate turnover rate when taking into account shares that are held short.
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Added option to enable SMA
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Updated background colors
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Gave the user the option to plot the vwap as a static line on last value or a plot to show historic values.
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Carried over new features from my private version of this script.
Mode - added mode to select calculation based on float instead of shares outstanding. Added option to draw 52 week high/low. Added overbought/oversold indicators.
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Removed 52week high to fix formatting issues with public template.
Ce script est publié en code source fermé et vous pouvez l'utiliser librement. Vous pouvez le préférer pour l'utiliser sur un graphique. Vous ne pouvez pas visualiser ou modifier son code source.
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