VWAP with selectable source

[T_Tech]

Hey everyone,
I'm sharing a new custom indicator I've developed: the Source VWAP Indicator.

Start the calculation from any specific bar – a session open, a key swing high/low, or any point you define. It's super flexible and draggable on the chart.

Standard Deviation Bands: Beyond just the main VWAP line, it includes up to 3 customizable standard deviation bands. These can be really helpful for identifying areas of value and potential reversals.

Customizable Price Source: Choose how your VWAP is calculated. Whether you prefer Typical Price (HLC/3), Close, OHLC/4, HIGH, LOW or others, you have the flexibility to pick what works best for your analysis.

I've focused on making it intuitive to use, with a simple right-click menu for quick adjustments and clear settings.

You can learn more and get your free copy here:
? https://tradingtechnology.gumroad.com/l/SourceVWAP

Feel free to ask any questions you might have!
Note all my indicator are currently built and test for MW 6.9 - I can't guarantee v7 compatibility at this point but everything will be updated for full v7 compatibility.

Happy Trading,




PS I've also developed a bunch of other stuff for MW, eg ICT Killzones, MotiveCypher (based on an infamous trend based indicator) etc, you can check them out here: https://tradingtechnology.gumroad.com/

 

[Donovan2580]

Just curious - How is this different than applying an "Anchored" VWAP that is already part of MW? (IE - If you drag the VWAP tool from the components panel to a chart, or add VWAP to the toolbar and apply it to a chart).


Either way - I always appreciate anyone developing things for MW and willing to share, so "Thank You!"

 

[T_Tech]

Just curious - How is this different than applying an "Anchored" VWAP that is already part of MW? (IE - If you drag the VWAP tool from the components panel to a chart, or add VWAP to the toolbar and apply it to a chart).


Either way - I always appreciate anyone developing things for MW and willing to share, so "Thank You!"

The main difference is the selectable source, it has 7 additional sources over the built in MW study. High and Low are especially useful when anchored to swing points.

 

[T_Tech]

Here's an example of the source set to "High" on a recent high, a standard vwap source would give you a vwap in the middle, while the High anchor gives some additional information about possible resistance points you wouldn't have been aware of using the standard calculation. Great for scalping the extremes.

 

[Donovan2580]

Ahh gotcha - I totally get it now. Glad I asked.

I anchored this VWAP to the swing low, but I had never noticed it anchors to the middle of that bar.

Learn something new everyday Nice work on this & thanks for sharing.