ZWAP (ZigZag Anchored VWAP) [Kioseff Trading]

29 Sep 2023

Hello!

Quick script showcasing the new polyline function for Pine Script!

Features

• Up to 100 high/low pivot points auto anchored VWAP
  
• Visible range auto anchored VWAP
  
• Curved ZigZag (Adjustable!)
  

With the new polyline function, auto-anchored VWAP at specific price points is more viable.

When using line.new() only 500 lines can exist on the chart concurrently and, since VWAP is calculated on every update, a "proper" VWAP drawn using line.new() can extend 500 bars at most, to which no additional VWAP lines can be drawn after.

Of course, when using the plot() function a VWAP line will draw on every bar; however, this method isn't highly compatible with auto-anchoring VWAP lines.

However!

A polyline, from beginning to end irrespective of the number of coordinates used, constitutes 1 polyline; 100 can exist simultaneously with 10,000 xy coordinates per line.



The image above shows an attempt to draw the same auto-anchored VWAP lines using the line.new() function. Not an ideal outcome!



The image above shows the same attempt using the polyline.new() function!

Very nice (:



The image above shows the indicator auto anchoring to zig zag turning points.

Subsequent to a new anchoring, VWAP is calculated for the following bars - up to the current bar.

Thank you for checking this out; if you have any ideas to spice it up feel free to comment!

29 Sep 2023

Catatan Rilis

Updated chart

29 Sep 2023

Catatan Rilis

Greatly improved efficiency on lower timeframes