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Volume Weighted Average Price - SMA
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1449 |
| Added: August 23, 2008 |
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| Tags:
TradeStation, indicator
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For what its worth, here is a moving average that takes intraday volume into consideration. It only works for intraday charts.
If you come up with what it is good for, or if you have seen this idea before, please let me know.
The following is this indicator plotted twice. Length 15 line plotted as smaller Point, length 30 plotted as bigger Point. The relatively calm line is simply VWAP itself.
Code:
Type : Function, Name : VWAP_SMA
{ VWAP SMA }
input:
Price(NumericSeries),length(NumericSimple);
vars:
PV(0),
Vol(0),
dayBar1(0),
len(0),
it(0);
if date <> date[1] then
dayBar1 = barNumber;
len = MinList(BarNumber-dayBar1,length);
PV = price * Ticks;
Vol = Ticks;
value1 = summation(Vol,len);
if value1 <> 0 then
it=summation(PV,len)/value1
else
it=Price;
VWAP_SMA = it;
Type : Indicator, Name : VWAP_MA
{ VWAP MA }
input:
Price(AvgPrice),length(25),upColor(cyan),dnColor(red);
vars:
it(0);
it = VWAP_SMA(Price,length);
plot1(it,"VWAP MA");
if plot1 > plot1[1] then setplotcolor(1,upColor);
if plot1 < plot1[1] then setplotcolor(1,dnColor);
Code to difficult? Find somebody to help you with coding here.
Source: https://www.tradestation.com
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