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Moving Volume Weighted Average Price (MVWAP)

MerryDay

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Moving Volume Weighted Average Price (MVWAP)

A poster requested this indicator based on the definition found in Investopedia.
https://www.investopedia.com/articles/trading/11/trading-with-vwap-mvwap.asp
An MVWAP is basically an average of the VWAP values. VWAP is only calculated per day, but MVWAP can move from day to day because it is an average of an average. This provides longer-term traders with a moving average volume weighted price.

I have not used it but as it is a simple study, I wrote up the syntax. If you find a use for it, report back.
S7ygbek.png

Ruby:
# Moving volume weighted average price (MVWAP)
# As per request by @jordan 7/21
input n_periods = 10 ;
def VWAP = reference VWAP("time frame" = "DAY")."VWAP"
plot MVWAP = average(VWAP,n_periods) ;

MVWAP.SetPaintingStrategy(PaintingStrategy.LINE_VS_POINTS);
MVWAP.SetLineWeight(1);
MVWAP.SetDefaultColor(color.magenta) ;
Shared Link: http://tos.mx/hADl00a
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