OPEN-SOURCE SCRIPT

F.B_Volume Weighted Average Price MTF

Zaktualizowano
The F.B_Volume Weighted Average Price MTF (VWAP MTF) indicator calculates the volume-weighted average price of a security across different timeframes. The VWAP is a powerful indicator used by both institutional and retail traders to make better trading decisions.


Functionality:

Timeframe:
The indicator allows you to adjust the timeframe for the VWAP calculation via the settings. By default, the timeframe is set to weekly ("W").

Restart at new timeframe:
At each new period in the chosen timeframe, the VWAP calculations are reset, and a new VWAP is calculated.

VWAP Calculation:
The VWAP is calculated by the volume-weighted average of the typical prices (High, Low, and Close) of the security. This calculation takes into account the volume of each transaction to provide an accurate average price.

Visualization:
The VWAP is displayed as a line on the chart, and the color of the line changes depending on the price position relative to the VWAP:

Green: The current closing price is above the VWAP (bullish signal).
Red: The current closing price is below the VWAP (bearish signal).


Options:

Show barcolors:
This option allows you to display the colors of the candles based on their position relative to the VWAP (green for bullish, red for bearish).

Show previous VWAP close:
This option shows the closing value of the VWAP from the previous period to provide historical reference points.


Interpretation:

Bullish Signal:
If the current price is above the VWAP, this indicates that the market trend is upward, which could be considered a buying opportunity.

Bearish Signal:
If the current price is below the VWAP, this indicates that the market trend is downward, which could be considered a selling signal.
Informacje o Wersji
Fix in calculation, change in display of recalculation point, and more timeframe options for adjustment.
Informacje o Wersji
Fixing minor bugs in the code
Support and ResistanceVolumeVolume Weighted Average Price (VWAP)

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