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Blitz,
Most volume studies are worthless due to the fact that volume is seldom reported accurately. That being said VWAP is volume at price divided by total volume. You may be able to derive a daily or weekly value but I really doubt its usefulness.
Preston
--- In equismetastock@xxxxxxxxxxxxxxx, Blitz Krieg <greenrhinos@xxx> wrote:
>
> Hi, guys
> I tried to make simplified VWAP application on my chart as indicator, so I can easily know where is support/resistance.
>
> Formula:
> ((L*V)+(ref(L,-1)*REF(V,-2)+(ref(L,-1)*REF(V,-3))/(V+REF(V,-1)+REF(V,-2))
>
> BUT the result seems like only summation of Ln*Vn.
> Guys, I need your advice about this.
>
> Thank you for your advice
>
> Blitz
>
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