VWAP Periodic Close [LuxAlgo]

10. Sept.The VWAP Periodic Close script offers an advanced tool for analyzing the Volume Weighted Average Price (VWAP) across various timeframes.

This tool enables traders to visualize VWAP close levels for daily, weekly, monthly, quarterly, and yearly periods, offering a comprehensive view of price behavior across different time frames. It helps in identifying key levels where the VWAP closes at the end of each specified period.

🔶 USAGE



This script is designed to enhance your trading strategy by plotting VWAP close levels on your chart for different time periods. This helps traders easily identify historical VWAP levels and analyze price action relative to these levels, particularly useful for identifying key support and resistance levels providing insights into potential future price behavior.



Supports VWAP closes for multiple timeframes, including historical periods (e.g., 3 months back, 3 quarters back, 3 years back). The labels provide context and detailed information about the VWAP close at a specific point in time and enhance the clarity and usefulness of the VWAP data presented on the chart.



Users can toggle the display of VWAP lines for different periods and customize the colors for each timeframe (e.g., distinct colors for monthly, quarterly, and yearly closes).



🔶 SETTINGS

The script offers a range of customizable settings to tailor the analysis to your trading needs.

🔹 Volume Weighted Average Price (VWAP)

• VWAP Close Level: Toggle the display of VWAP levels at the end of each period (daily, weekly, monthly, quarterly, yearly).
  
• VWAP Origin: Toggle the display of the VWAP line for each period.
  
• VWAP Source: Choose the data source for VWAP calculations (default is HLC3).
  
• Historical Closes: Define the number of historical VWAP levels to plot.
  
• Line/Label Offset: Adjust the offset for positioning lines and labels on the chart.
  

🔹 Themes

• Theme Selection: Choose between "Day," "Night," or "Custom" themes to adjust the color scheme of VWAP lines and labels.