Using VWAP in EdgeProX
What is VWAP?
The volume-weighted average price (VWAP) indicator provides traders with the average price of a contract over a specific time period, weighted with the volume that has been traded. While similar to a moving average indicator, VWAP differs from moving average because it factors in the volume of contracts traded.
Drawing the VWAP Indicator in EdgeProX
There are multiple methods to enable both the standard VWAP and Anchored VWAP indicators in EdgeProX. These methods are listed below.
How to Draw VWAP using Components Panel
VWAP tool or Anchored VWAP can be found in the components panel in EdgeProX. To use the VWAP tool, click on the icon and drag it to your anchor point/candlestick. The VWAP selected from the components menu will automatically scale based on the chart's current view. Please see the gif below for reference:
You can expand this VWAP's range by selecting the green circle on the end of the VWAP and dragging
How to Draw VWAP tool via Right-Click Dropdown Menu
You can also VWAP through the Tools menu. This can be accessed by right-clicking the chart, hovering over "Tools", and selecting VWAP from the dropdown menu that appears.
Creating VWAP from Studies
Another method to create a VWAP for your chart is through the Studies menu. This can be accessed by selecting Study -> All Studies from the upper toolbar in EdgeProX and searching for "VWAP"
From the screen shown above, double click "Volume Weighted Average Price (VWAP)"
This provides additional configuration options for the VWAP indicator which are shown in the screenshot below. Additionally, each of these settings are defined below the screenshot.
RTH Data Only: Define the session being used for the VWAP. Includes Chart Session, RTH, and ETH
Timeframe: Define the timeframe being used for the VWAP
Line: Define the color, pattern, and thickness of the line shown on the chart to represent the VWAP
Indicator: Price axis indicator settings for the VWAP. Define the fill color, font color, and if there is a line extending from the VWAP's indicator on the price axis.
Anchored VWAP
What is an Anchored VWAP?
Typically, the VWAP indicator is started with the first bar of a specified period. An anchored VWAP is a VWAP that begins at a bar specified by the trader.
Switching VWAP indicator into Anchored VWAP
While the VWAP indicator defaults to starting at the first bar of the day, you can convert the VWAP indicator into an Anchored VWAP. This is done by right-clicking the VWAP in line with the bar you would like to anchor the VWAP from. You will see the option to anchor the VWAP at the selected bar.
The screenshot below displays how the VWAP appears once anchored.
To clear the anchor, right click once more clicking on the line and select, 'Clear Anchor'. The VWAP indicator will return to its selected settings.
Additional Resources
Feel free to reach
out to the EdgeClear team if you have any further questions or need additional
assistance. Below are a few resources to help you get started:
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