Hello,
Could anyone help me understand the VWAP reset indicator?
1) Input element Price - default is avgprice, how is this avgprice calculated?
2) Input elements -the 5 time slots
- it doesn't matter what your inputs are, the VWAP value doesn't change. This doesn't make sense, as the day processes, VWAP should change because volume and price constantly change.
- Why 5 time slots?
- If you want to see VWAP on a 15 minute chart, how do you do that?
3) Input element - localhrsoffset, what does this mean?
3) A VWAP true to its definition would have to be built on ticks, is that how this indicator is built?
Thanks
VWAP reset Indicator
- TJ
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Re: VWAP reset Indicator
avgprice is a built-in function.Hello,
Could anyone help me understand the VWAP reset indicator?
1) Input element Price - default is avgprice, how is this avgprice calculated?
you can find the code in the PowerLanguageEditor.
the VWAP is reset everyday and at the time slots.2) Input elements -the 5 time slots
- it doesn't matter what your inputs are, the VWAP value doesn't change. This doesn't make sense, as the day processes, VWAP should change because volume and price constantly change.
- Why 5 time slots?
You have to change the code to accommodate that.- If you want to see VWAP on a 15 minute chart, how do you do that?
It is not difficult, but will take some time and care.
If you don't know how, I would suggest you to start with the manual.
localhrsoffset = local hours offset3) Input element - localhrsoffset, what does this mean?
in case you live in a different time zone than the exchange.
It depends on your setting of the instrument.3) A VWAP true to its definition would have to be built on ticks, is that how this indicator is built?
Thanks
You can set your instrument to build volume on ticks, or trade.
Re: VWAP reset Indicator
So does that mean at each of the time slot VWAP is recalculated from the first time slot through the subsequent time slot?the VWAP is reset everyday and at the time slots.
2) Input elements -the 5 time slots
- it doesn't matter what your inputs are, the VWAP value doesn't change. This doesn't make sense, as the day processes, VWAP should change because volume and price constantly change.
- Why 5 time slots?
Thanks a lot for your help.
- TJ
- Posts: 7742
- Joined: 29 Aug 2006
- Location: Global Citizen
- Has thanked: 1033 times
- Been thanked: 2222 times
Re: VWAP reset Indicator
the VWAP is reset everyday and at the time slotsSo does that mean at each of the time slot VWAP is recalculated from the first time slot through the subsequent time slot?the VWAP is reset everyday and at the time slots.
2) Input elements -the 5 time slots
- it doesn't matter what your inputs are, the VWAP value doesn't change. This doesn't make sense, as the day processes, VWAP should change because volume and price constantly change.
- Why 5 time slots?
Thanks a lot for your help.
Reset means set to ZERO.