Anchored VWAP or Custom VWAP tool allows drawing a VWAP line within a specified range or from a specified starting point.
Specify the start point on the chart and anchored VWAP will draw a line to the current moment. Also, you can specify the endpoint for the line, set Standard Deviation and Maximum Permissible Deviation.
By clicking on the "Gear" icon, you can customize the settings of the selected VWAP
Settings of Custom VWAP (Anchored VWAP)
- VWAP line — set the main line type, its thickness, and color
- Left Range — defines the starting point for custom VWAP
- Mode — there are 2 modes — Anchored, and Custom — that control the right range of the VWAP: Anchored mode fixes only the left range or the starting point of the VWAP calculation. The right range automatically moves with each new bar. Thus, the VWAP is updated in real-time with each new bar. Custom mode fixes both borders of the range for the VWAP calculation.
- Data type — set the data for VWAP calculation: Ticks or Current TF. Ticks will use tick data for VWAP calculation and will take much more time for loading Current TF will use Bar data from the current selected Timeframe of your chart. It will use Price type data and multiply it by Bar Volume.
- Price Type — select the price for the Current TF data type (Open, High, Low, Close, HL/2, HLC/3, OHLC/4)
- Standard Deviation Bands. When the parameter is active, the standard deviation lines up and down from VWAP will be additionally calculated on the chart. Specify the number of standard deviations in the "Value" field and colors
- Maximum Permissible Deviation (MPD). MPD is similar to the standard deviation but is calculated as (VWAP period high - VWAP period low)/2.
- Visible on specified timeframes — this setting allows you to specify on which timeframes VWAP will be displayed.