How Do We Use It?
The core of the VWAPMax indicator is the display of the volume weighted average price. The VWAP is designed to show at a glance the average price level of participants involved in the market selling. Heavier volume at certain price points drags the VWAP closer to that price whereas, light volume trading has far less “pull.”
Additionally, the VWAPMax indicator displays an envelope around the VWAP, which represents the theoretical maximum permissible deviation away from the VWAP.
This package includes the VWAPMax, VScore, and Vprofile indicators for intraday and end of day timeframes.