█ Volume Weighted Average Price & Previous Volume Weighted Average Price - Multi Timeframe
This script can display the daily, weekly, monthly, quarterly, yearly and rolling VWAP but also the previous ones.
█ Volume Weighted Average Price (VWAP) The VWAP is a technical analysis tool used to measure the average price weighted by volume. VWAP is typically used with intraday charts as a way to determine the general direction of intraday prices. VWAP is similar to a moving average in that when price is above VWAP, prices are rising and when price is below VWAP, prices are falling. VWAP is primarily used by technical analysts to identify market trends.
█ Rolling VWAP The typical VWAP is designed to be used on intraday charts, as it resets at the beginning of the day. Such VWAPs cannot be used on daily, weekly or monthly charts. Instead, this rolling VWAP uses a time period that automatically adjusts to the chart's timeframe. You can thus use the rolling VWAP on any chart that includes volume information in its data feed. Because the rolling VWAP uses a moving window, it does not exhibit the jumpiness of VWAP plots that reset.
indicator is good ,but there is a glitch in indicator when you change the color all settings reset and labels dose not move when 2 vwap mix together labes should be side by side when they mix
kishanhadiyal9
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thanks sir for very useful indicator.. one request: please add volume weighted bar with this indicator.. its unbeatable combination with mtf vwap.