PROTECTED SOURCE SCRIPT
Anchored VWAP (AVWAP)
Anchored VWAP (AVWAP) Indicator
The Anchored VWAP (AVWAP) is a powerful tool used by traders to track the average price of a security, weighted by volume, starting from a specific anchor point. It helps identify key support and resistance levels, track institutional buying and selling, and assess fair value over a custom timeframe.
Features:
Custom Anchoring: Choose an anchor point using the crosshair on the chart or set a specific date and time.
Dynamic Adjustments: Reset the anchor to adapt to changing market conditions.
Clear Visualization: The AVWAP line dynamically updates to provide insights into price-volume behavior, with a labeled anchor point for reference.
How It Works: The AVWAP calculates the average price weighted by volume, starting from the selected anchor point. This helps traders assess market sentiment and trend strength from pivotal events or price levels.
Use this indicator to refine your trading strategy by identifying key levels and tracking the flow of institutional orders.
Indicator Functions in the Script
User Inputs:
Crosshair Anchor: Lets the user anchor the AVWAP to the current bar where the crosshair is located.
Reset Anchor: Resets the anchor point to allow setting a new one.
Specific Date/Time Anchor: Allows the user to anchor the AVWAP to a specific date and time.
Anchor Selection:
The anchor point is set based on the user's choice:
Crosshair Anchor: Sets the anchor to the close price of the selected bar.
Specific Time Anchor: Sets the anchor to the close price of the bar closest to the specified date and time.
AVWAP Calculation:
Uses cumulative volume and price-volume to compute the weighted average price from the anchor point.
Subtracts the cumulative sums at the anchor bar to ensure the calculation starts from the correct point.
Visualization:
AVWAP Line: Plots the AVWAP line on the chart in blue.
Anchor Label: Marks the anchor point with a red circle and a label for clarity.
The Anchored VWAP (AVWAP) is a powerful tool used by traders to track the average price of a security, weighted by volume, starting from a specific anchor point. It helps identify key support and resistance levels, track institutional buying and selling, and assess fair value over a custom timeframe.
Features:
Custom Anchoring: Choose an anchor point using the crosshair on the chart or set a specific date and time.
Dynamic Adjustments: Reset the anchor to adapt to changing market conditions.
Clear Visualization: The AVWAP line dynamically updates to provide insights into price-volume behavior, with a labeled anchor point for reference.
How It Works: The AVWAP calculates the average price weighted by volume, starting from the selected anchor point. This helps traders assess market sentiment and trend strength from pivotal events or price levels.
Use this indicator to refine your trading strategy by identifying key levels and tracking the flow of institutional orders.
Indicator Functions in the Script
User Inputs:
Crosshair Anchor: Lets the user anchor the AVWAP to the current bar where the crosshair is located.
Reset Anchor: Resets the anchor point to allow setting a new one.
Specific Date/Time Anchor: Allows the user to anchor the AVWAP to a specific date and time.
Anchor Selection:
The anchor point is set based on the user's choice:
Crosshair Anchor: Sets the anchor to the close price of the selected bar.
Specific Time Anchor: Sets the anchor to the close price of the bar closest to the specified date and time.
AVWAP Calculation:
Uses cumulative volume and price-volume to compute the weighted average price from the anchor point.
Subtracts the cumulative sums at the anchor bar to ensure the calculation starts from the correct point.
Visualization:
AVWAP Line: Plots the AVWAP line on the chart in blue.
Anchor Label: Marks the anchor point with a red circle and a label for clarity.
Protected script
This script is published closed-source and you may privately use it freely.
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