F.B_Volume Weighted Average Price MTF

F-B_AutoPilot Updated   
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.


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.

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).


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This option shows the closing value of the VWAP from the previous period to provide historical reference points.


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.
Release Notes:
Fix in calculation, change in display of recalculation point, and more timeframe options for adjustment.
Release Notes:
Fixing minor bugs in the code
Open-source script

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.


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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