The volume-weighted average price (VWAP) is a technical analysis indicator used on intraday charts that resets at the start of every new trading session. It's the average price a security has traded at throughout the day, based on both volume and price. VWAP is important because it provides insight into both the price trend and value of a security.
Why did I make this indicator? Instead of having 5 individual VWAP indicators for the daily, weekly, monthly, quarterly, and annual, I wanted one view with a clean display. This VWAP indicator combines the 5 VWAPs into one color coded view that allow styles and colors to be modified.
I personally like VWAPs since it helps me better understand potential bounce or pullback areas.
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