VWAP Line – The perfect indicator

VWAP Line - The perfect indicator

The VWAP for a stock is calculated by adding the dollars traded for every
transaction in that stock ("price" x "number of shares traded") and dividing the total shares traded. A VWAP is computed from the Open of the market to the market Close, AND is calculated by Volume weighting all transactions during this time period

Bars_so_far_today = 1 + BarsSince( Day() != Ref(Day(), -1));
StartBar = ValueWhen(TimeNum() == 093000, BarIndex());
TodayVolume = Sum(V,Bars_so_far_today);
IIf (BarIndex() >= StartBar, VWAP = Sum (C * V, Bars_so_far_today  ) / TodayVolume,0);
Plot (VWAP,"VWAP",colorOrange, styleThick);


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