VWAP: The VWAP is a trading indicator, which averages the closing prices during the given time period. At the same time, it puts emphasize on the periods with higher volume. In this manner, the Volume Weighted Average Price is a lagging indicator, because it is based on previous data.When the price goes above the VWAP indicator this means that the strength of the bullish move is strong. It is so strong that the price has managed to break its average value on the chart. Therefore, we get a long signal. The same is in force for a bearish breakout, but in the opposite direction.
Pattern name: Strategy name
Time interval: Candlestick or bar Timeframe
Signal Direction: Bullish or Bearish
VWAP: Volume Weighted Average Price (VWAP) is a trading indicator.
Index: VWAP Value
Break, When closing price on the candlebar surpasses certain value on the VWAP indicator. In this instance, only one stock can be selected.
Cross, when VWAP line crosses closing price on the candlebar. In this instance, multiple symbols can be selected.
Effect: Select “Below to Above” ,“Above to Below” or Touch. The index functions -Below/Above- in coordination with Second index or Target level.
Target Level: VWAP level where you want to get a break signal.
Target Symbol: Add target symbol.
Time Scope: Timeline for the strategy
“Create and save” or “Create and Add New Indicator”: Select “Create and Save” if building a strategy with one indicator, or select “Create and Add New Indicator” if adding an additional indicator to the strategy.