OPEN-SOURCE SCRIPT

VolumeWeightedAveragePrice

Hey guys,

here i present an advanced version of the standard VWAP indicator, with some configurable offsets.

The basic VWAP is an intraday average price weighted by volume to offer great levels to enter a trade (long or short).

The Formula looks like this:
VWAP= (∑Price * Volume) / ∑Volume

Its very simple to use: if the price closes above the VWAP its bullish, if it closes below its bearish. Because it acts as support and resistance, you can find good entries around this level and also on its offsets.

Feel free to ask if something is unclear now.

Cheers
Trend Analysis

Skript med en öppen källkod

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 publication is governed by House rules. Du kan ange den som favorit för att använda den i ett diagram.

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