It incorporates information in a natural and logical way. The eVWMA can be looked at as an approximation to the average price paid per share.
As a period you can use:
- Absolute value, for example floating number of shares. 134M for Tesla for example.
- Sum of the last x bars volumes.
Indicator was developer by Christian P. Fries, Ph .D.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.