VWOP ( Volume Weighted & Oscillated Price )


It is very useful to take into account the volume with an oscillating line that moves along with the price to help determine the trends, This indicator is designed to be used as an entry or exit indicator, in conjunction with moving averages or other indicators.

The representation of red for bearish and green for bullish makes this indicator easy to use and analyze, and highlighting the colors to increase in volume. In the VWOP calculation, the typical price is replaced by the selected moving average type or "matype" and then multiplied by the volume.

A total value is then calculated with a length value that changes according to the value of the selected oscillator. The total is divided by the sum of the fair volume using the same wobble-length value and finally, the result is passed through the selected "matype" once more to give the final result.