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need vwap indicator that changes colour on up and downmoves
Hi Fat Tails, many thanks for posting the ana indicators and all the other stuff you have done. it's been of tremendous benefit.
One thing I've been trying to do for awhile is calculate the slope of the VWAP and incorporate this into my trading. I am able to use Close above or below VWAP line but not slope so wondering if you could point me in the right direction for this.
Thanks
DJ
Can you help answer these questions from other members on NexusFi?
There are several arguments against using the slope:
(1) The VWAP is a session related indicator. This means that it jumps when a new session starts. The slope around the session begin therefore has no meaning.
(2) In the beginning of the session even small moves may induce a significant slope, whereas in the second half of the session even large moves will only produce a small slope. So the slope will always be steeper in the beginning of the session and shallow in the end. This has no meaning, because it is just owed to the construction of VWAP as a cumulative measure.
So in my opinion it does not make any sense to use the slope of a VWAP.
