OPEN-SOURCE SCRIPT
VWAP Candles & MVWAP
I was getting sick of the useless VWAP indicator on Trading View and wrote something that is more comprehensive and quite interesting, in fact: candles for VWAP.
It uses the original open/high/low/close and combines them as you would the original hlc3 calculation, but separately, to draw the candles as a shadow of the current price.
There are a few parameters to make it more flexible: source, resolution timeframe, volume length, and moving average length.
Volume Length (default: 5) will determine the candle calculations, cumulative sum of the past X bars.
Moving Average Length (default: 9) will determine the simple moving average (sma) length for the true VWAP (hlc3*volume/cumulative volume)
Source will change the Moving Average VWAP from hlc3 to whatever you want.
Resolution will attune the candles and Moving Average VWAP line to a different periodicity.
Just to be a pain, I also included the old VWAP from Trading View, as a comparison. You can disable it from the Style settings.
Enjoy and happy trading!
It uses the original open/high/low/close and combines them as you would the original hlc3 calculation, but separately, to draw the candles as a shadow of the current price.
There are a few parameters to make it more flexible: source, resolution timeframe, volume length, and moving average length.
Volume Length (default: 5) will determine the candle calculations, cumulative sum of the past X bars.
Moving Average Length (default: 9) will determine the simple moving average (sma) length for the true VWAP (hlc3*volume/cumulative volume)
Source will change the Moving Average VWAP from hlc3 to whatever you want.
Resolution will attune the candles and Moving Average VWAP line to a different periodicity.
Just to be a pain, I also included the old VWAP from Trading View, as a comparison. You can disable it from the Style settings.
Enjoy and happy trading!
Script de código abierto
Siguiendo fielmente el espíritu de TradingView, el autor de este script lo ha publicado en código abierto, permitiendo que otros traders puedan entenderlo y verificarlo. ¡Olé por el autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la reutilización de este código en la publicación se rige por las Normas internas. Puede añadir este script a sus favoritos y usarlo en un gráfico.
¿Quiere utilizar este script en un gráfico?
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