Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers
Joined: 2/2/2007(UTC)
Posts: 367
Was thanked: 1 time(s) in 1 post(s)
|
In his article, "VWAP for Support and Resistance", George Reyna explains how to calculate the volume weighted average price, or VWAP. These calculations can be duplicated in MetaStock 6.52 or higher with the following formulas. To create these indicators, select the Indicator Builder from the MetaStock Tools menu. Then click New and enter the formulas as listed below:
Name: VWAP ( Approximation )
Formula:
sm:=Input("starting month",1,12,1);
sd:=Input("starting day of month",1,31,1);
sy:=Input("starting year",1980,2100,2000);
d1:= sd=DayOfMonth() AND sm=Month() AND sy=Year();
pv:=MP()*Cum(V);
denom:= If(Cum(V)-ValueWhen(1,d1,V)=0,1,Cum(V)-ValueWhen(1,d1,V));
If(BarsSince(d1),(pv)/denom, MP())
Name: VWAP Support/Resistance
Formula:
sm:=Input("starting month",1,12,1);
sd:=Input("starting day of month",1,31,1);
sy:=Input("starting year",1980,2100,2000);
start:= sd=DayOfMonth() AND sm=Month() AND sy=Year();
pv:=MP()*V;
denom:= If(Cum(V)-ValueWhen(1,start,Cum(V))=0,1,Cum(V)-
ValueWhen(1,start,Cum(V)));
If(BarsSince(start),(Cum(pv)-ValueWhen(1,start,Cum(pv)))/ denom,MP())
|
