Pioneered by Brian Shannon, an Anchored VWAP is the measure of the average price per share since a specific moment or event. It is found as a tool in TradingView in the same toolkit as Trend Lines.
This indicator uses a Stochastic RSI measurement to define when low and high points (support and resistance levels) have occurred and applies an 'anchor' to these points. It progressively updates these anchor points as they change. The "Next" potential AVWAP values are also displayed. When a support level is raised or a resistance level is lowered the main AVWAP value is replaced by the "Next" value.
Default Configuration:
This indicator (unconventionally) uses the high and low values instead of the HLC3 values used by a typical VWAP calculation. This allows for what appears more like support and resistance than simply an average price. Simply uncheck this configuration value to see the difference.
Breakout alerts are triggered by the open value. Uncheck this setting to use the close.
Is it possible to automatically anchor a VWAP on the highest high (or lowest low, or highest volume, ...) of the last N bars (without all the previous ones)? I read the documentation of the functions like ta.highest, ta.highestbars, ... What I don't understand is how I can anchor to the identified date, because (if I understand well) this date it's known only after all the bars are analyzed and the chart is drawn ... Can I plot the A-VWAP (anchored to the identified date of interest) after the chart has been drawn? (force a 're-painting' of the chart with the anchor date?)
Similar (?) problem: on intraday charts, how to anchor to the beginning of specific (and automatically identified) previous trading session(s)? e.g today session, trading session before today, 2 trading sessions before today, ...
Thanks in advance for any advice, if any. Best wishes of a happy new year. Cheers from Italy
Arachynn963
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Is it possible to add a function that only shows plots after it has been anchored for more than 3 bars? Thank you!
JayM0ap
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Great job
cajole
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Great work, beautifully executed.
Arachynn963
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Is there a chance you can add a choice to choose which timeframe we want AVWAP on?
JayM0ap
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@Arachynn963, it's auto when you switch timeframe which is great
itsjhow
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Awesome
ArtoAjjsjsjs
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Can anyone teach how to use this i am a manual avwap user
Thanks for your indicator.
Is it possible to automatically anchor a VWAP on the highest high (or lowest low, or highest volume, ...) of the last N bars (without all the previous ones)?
I read the documentation of the functions like ta.highest, ta.highestbars, ... What I don't understand is how I can anchor to the identified date, because (if I understand well) this date it's known only after all the bars are analyzed and the chart is drawn ... Can I plot the A-VWAP (anchored to the identified date of interest) after the chart has been drawn? (force a 're-painting' of the chart with the anchor date?)
Similar (?) problem: on intraday charts, how to anchor to the beginning of specific (and automatically identified) previous trading session(s)? e.g today session, trading session before today, 2 trading sessions before today, ...
Thanks in advance for any advice, if any. Best wishes of a happy new year. Cheers from Italy