Moving Volume Weighted Average Price
Overview
The Moving Volume Weighted Average Price (MVWAP) takes the raw VWAP values and creates an average of the value to smooth the results. For more information please refer to the VWAP page.
The Moving Volume Weighted Average Price includes the option of displaying up to three standard deviation channels, as per the below example.
To add the tool to your chart, select the tool from the Averages tool group, and left-click on the chart or indicator on which you wish to add the tool. Optuma will then draw the tool using the default settings.
Scripting Function: MVWAP()
Actions & Properties
Actions
Copy Data to Clipboard: Will copy the tool’s values to the clipboard which can then be inserted into a spreadsheet, for example, allowing for further analysis.
Add Technical Alert: When selected, a Technical Alert will be created for the selected security.
Add to Toolbar: Adds the selected tool to your custom toolbar.
Apply Settings to All: When multiple Moving Volume Weighted Average Price tools have been applied to a chart, page or workbook, this action can be used to apply the settings of the one selected to other instances of the tool. This is a great time saver if an adjustment is made to the tool - such as line colour - as this allows all the other Moving Volume Weighted Average Price tools in the chart, page or entire workbook to be updated instantly.
Copy Tool: Allows you to copy the selected tool, which can then be pasted onto a different chart window.
Move to Back: If the tool is displaying in front of other tools or indicators clicking this action will move the tool view to the background.
Move to Front: If the tool is displaying behind other tools or indicators on the chart, clicking this action will bring the tool to the forefront.
Restore Default Settings: Click this action if you have adjusted the default settings of the tool, and wish to return to the standard properties originally installed with Optuma.
Save Settings as Default: If you have adjusted any of the tool’s properties (colour, for example) you can save the adjustments as your new default setting. Each time you apply a new Moving Volume Weighted Average Price to a chart, the tool will display using the new settings.
Delete: Deletes the tool from the chart.
Properties
Tool Name: Allows you to adjust the name of the tool, as it’s displayed in the Structure Panel.
Period: The number of bars that are used in the calculation of the tool.
Calc Using: This option is used to determine which components of the data are used in calculating the MVWAP. You can choose from, Open Price, Closed Price, High Price, Low Price, HL Average (High + Low / 2), HLC (High + Low + Close / 3), OHLC (Open + High + Low + Close / 4), OC (Open + Close / 2) and Median.
Intraday Timeframe: Sets the timeframe that the MVWAP is calculated on.
Plot Style: Adjusts the display style of the MVWAP. There are 6 options available: Line, Dot, Histogram, Step, Shaded, Shaded Step.
Line Style: When Line is selected as the Plot Style, the Line Style property allows you to adjust the type of line displayed. There are 8 options available: Solid, Dots, Dash, Dash Dots, Long Dash, Long Dash Dot, Long Dash Dot Dot, Stippled.
Line Width: Allows you to adjust the width of the MVWAP. Moving the slider bar to the right increases the thickness of the line.
Line Colour: Allows you to adjust the colour of the MVWAP line.
Show Standard Deviation: When selected the Standard Deviation Channels will be displayed.
Std Dev Period: Sets the standard deviation period.
Std Dev Multiplier: Sets the standard deviation multiplier.
First Deviation: This expands to display the following properties:
- Plot Style - Allows you to change how the MVWAP is displayed on your chart. There are 6 options available: Line, Dot, Histogram, Step, Shaded, Shaded Step.
- Line Style - The Line Style property allows you to adjust the type of the line displayed. There are 8 options available: Solid, Dots, Dash, Dash Dots, Long Dash, Long Dash Dot, Long Dash Dot Dot and Stippled.
- Line Width - Allows you to adjust the width of the line. Moving the slider bar to the right increases the thickness of the line.
- Line Colour - Allows you to select the colour of the line. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
- Show Fill - When selected the Standard deviation channel will be filled.
- Fill Colour - When “Show Fill” is selected you are then able to set the fill colour.
- Fill Transparency - When “Show Fill” is selected you are then able to adjust the fill transparency. Moving the slider bar to the right will decrease the transparency.
Second Deviation: This expands to display the same properties as the First Deviation.
Third Deviation: This expands to display the same properties as the First Deviation.
Offset: Moves the tool forward or backwards in time. The offset is measured in bars, so a value of 2 will push the tool forward 2 bars and -2 will move the tool back 2 bars.
Tool Transparency: Use this slider bar to adjust the transparency of the tool, moving the slider to the left will increase the transparency.
Visible: Un-tick this checkbox to hide the tool from the chart.
Show in Price Scale: When selected the current Moving Volume Weighted Average Price value will be displayed in the Price Scale.