Visible-Range VWAP with Standard Deviation Bands and OHLC Levels
Summary
This indicator anchors VWAP to the leftmost bar currently visible on a chart. Scrolling or zooming changes that starting point and causes the calculation to update, so the line describes the displayed range rather than a fixed daily or rolling window. It also plots the average close across visible bars and can show horizontal open, high, low, and close levels for that range.
Optional upper and lower bands use a configurable standard deviation multiplier; setting the multiplier to zero hides them. The high and low can be labeled with their prices and percentage distances from the latest visible close. The document explains the indicator’s calculation and display options, but provides no performance tests or evidence that these levels predict future prices. Results depend on the chart’s visible range, and the tool is presented as a chart analysis aid rather than a tested trading strategy.
Key ideas
- VWAP begins at the leftmost visible bar and recalculates when the chart view changes.
- A simple average of visible closing prices is available as a companion measure.
- Users can display standard deviation bands by setting a nonzero multiplier.
- Optional horizontal levels summarize the visible range’s open, high, low, and close.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.