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.

 

[wli888]

Hi all,
1st time asking a question here. I was trying to ad an anchored VWAP to my chart, but was unable to find that indicator in the list. When I asked support for help with it, they told me I can select the current VWAP and then right click the bar I wanted it set to, however I can't get it to work. I think I saw someone mention it is loaded into the indicators studies, but don't see it. T_Tech looks like he has a Anchored VWAP that I believe has to be loaded into MotiveWave. Can anyone provide some help? Thanks in advance

 

[T_Tech]

Hi all,
1st time asking a question here. I was trying to ad an anchored VWAP to my chart, but was unable to find that indicator in the list. When I asked support for help with it, they told me I can select the current VWAP and then right click the bar I wanted it set to, however I can't get it to work. I think I saw someone mention it is loaded into the indicators studies, but don't see it. T_Tech looks like he has a Anchored VWAP that I believe has to be loaded into MotiveWave. Can anyone provide some help? Thanks in advance

Which version of MW do you have?

 

[wli888]

Which version of MW do you have?

7.0

 

[Donovan2580]

Hi all,
1st time asking a question here. I was trying to ad an anchored VWAP to my chart, but was unable to find that indicator in the list. When I asked support for help with it, they told me I can select the current VWAP and then right click the bar I wanted it set to, however I can't get it to work. I think I saw someone mention it is loaded into the indicators studies, but don't see it. T_Tech looks like he has a Anchored VWAP that I believe has to be loaded into MotiveWave. Can anyone provide some help? Thanks in advance

Easiest way to do this is add VWAP to your toolbar. Once you do that, you'll have an icon that is always there (On the top toolbar for example). When you apply the VWAP from there, you will have the ability to adjust the origin bar.

 

[wli888]

Yes sir, I finally figured it out. Many thanks

 

[fluffyhead]

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,

View attachment 2978


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/

Hey man, I love this indicator, the standard MW VWAP is HLC3 and yours has the option for OHLC4 I love this and makes a massive difference, I was just wondering when the MW7 version is out I am currently using on MW7 but i can’t add deviation bands on
Thank you
FH

 

[T_Tech]

Hey man, I love this indicator, the standard MW VWAP is HLC3 and yours has the option for OHLC4 I love this and makes a massive difference, I was just wondering when the MW7 version is out I am currently using on MW7 but i can’t add deviation bands on
Thank you
FH

Thanks, I'll look into the issue with the deviation bands in V7 and update here.

 

[T_Tech]

Hey man, I love this indicator, the standard MW VWAP is HLC3 and yours has the option for OHLC4 I love this and makes a massive difference, I was just wondering when the MW7 version is out I am currently using on MW7 but i can’t add deviation bands on
Thank you
FH

Hi, just checking in MW7 and the std dev bands are working, what specific issue are you having?

 

[fluffyhead]

Hi, just checking in MW7 and the std dev bands are working, what specific issue are you having?

They work but when another candle loads the deviation bands doesn’t move with the candles I have to refresh to update data, thanks for reply
FH

 

[T_Tech]

They work but when another candle loads the deviation bands doesn’t move with the candles I have to refresh to update data, thanks for reply
FH

I have updated the indicator, bar updates are hopefully working correctly in v7, you can download the update from gumroad, if you find any issues please let me know and I'll get it sorted.

 

[fluffyhead]

I have updated the indicator, bar updates are hopefully working correctly in v7, you can download the update from gumroad, if you find any issues please let me know and I'll get it sorted.

I honestly can’t thank u enough wow, I am a VWAPerian the MotiveWave standard vwap is sh*t no offence to them lol this one is top quality.. thank you