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This indicator automatically displays multiple Anchored VWAPs (AVWAPs) on the chart. They act as strong Supports or Resistances. They add a lot of confluence to trading systems.
As per feedbacks from users, we have incorporated BOTH AVWAPs in latest version.
HL AVWAPs and Time AVWAP.
Let us understand about them in brief.
In Inputs section, from Display Choice, user can select either or both of abovementioned AVWAPs.
1. HL AVWAPs - Anchor VWAP Bands from Swing High / Low, within selected period.
By default, Period=100. That means, AVWAP bands will be drawn from Highest & Lowest bars within last 100 bars. It is advisable to select period between 50-250. User may change it as per market and timeframe being traded.
2. Time AVWAP - Anchor VWAP line from selected Date- Time.
It is prudent to select a significant point as Anchoring point.
Some suggestions are..
- 1st day of the month
- Earnings release date
- Big Gap up or gap down
- All Time High/ Low
- Big Breakout point
Further, if you have any problems using the indicator or have any other questions, do not hesitate to contact us at the email address provided in the indicator.
We are a small team of professional traders with experience in software development. We have been on the market for over 8 years and specialize in the development of MetaTrader 4 indicators and advisors. We also develop MS Excel-based trading strategies for futures and options.
In this version AVWAPs are automatically plotted from Highest and Lowest candle, of specified period.
By default period = 100. It means, last 100 bars of current timeframe.