Intra VWAP Histogram

Creator: Cory Mitchell

VWAP is a popular indicator that is followed by many traders. VWAP is an acronym for volume weighted average price. The indicator consists of volume and price and plots as a single line on the price chart.

The intraday VWAP indicator is calculated based on intraday data starting with the first candle of the day. Price and volume data are taken into account for each tick of each session. During the market session, the indicator starts anew every morning.

Rather than plotting intraday VWAP lines on the price chart, the intraday VWAP indicator is displayed as histogram bars below the chart. Histogram bars that are tall and rising are bullish, while those that are falling are bearish.

The indicator is applicable to all types of charting. Calculated based on the number of columns on P&F charts, bricks on Renko charts, lines on Line-break charts, candles on Heikin ashi charts, and lines on Kagi charts. While the formula and reading of the indicators remain the same, they become more dynamic on these charts.