MTF Anchored VWAP

The MTF Anchored VWAP indicator allows users to plot up to five independent Anchored Volume Weighted Average Price (AVWAP) lines from specific historical timestamps to identify key institutional levels and support/resistance zones.

Usage

The Usage of this tool is centered around consolidating multiple anchor points into a single indicator to save space on the chart. Traders typically use this to track volume-weighted price action from significant events such as earnings reports, all-time highs, or session opens.

To use the indicator, navigate to the settings and input the specific Year, Month, Day, Hour, and Minute for each anchor point. The script will then begin calculating the VWAP starting exactly at that timestamp.

Note: The script requires the selected time to exist within market hours. If an anchor is set to a time when the market is closed or no data is available, the line will not plot.

Details

The indicator calculates each AVWAP by accumulating the product of price and volume starting from the user-defined anchor point. The formula used is: Cumulative(Price * Volume) / Cumulative(Volume) By using independent variables for each of the five potential anchors, the script ensures that calculations remain distinct, allowing for the simultaneous analysis of multiple market cycles or trend starts.

Settings

The settings are organized into five identical blocks for each AVWAP:

• Source: Determines the price input used for the calculation (e.g., hlc3, close, hl2).
• Year: Sets the year for the anchor point.
• Month: Sets the month for the anchor point.
• Day: Sets the day for the anchor point.
• Hour: Sets the hour (24-hour format) for the anchor point.
• Minute: Sets the minute for the anchor point.

FAQ

How do I change the color of the different lines?

You can adjust the colors and line styles of each AVWAP by navigating to the "Style" tab in the indicator settings menu.

Why is the AVWAP line not appearing on my chart?

Ensure that the timestamp you have entered corresponds to a time when the market was open and data was recorded. If the time falls on a weekend or a holiday, the anchor will not initialize.

How can I access MTF Anchored VWAP?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.