VWAP anchored with Previous VWAP

VWAP with Persistent Previous VWAP Levels
🔹 Overview
This indicator calculates and displays Daily, Weekly, and Monthly VWAP (Volume Weighted Average Price) along with their previous period VWAP levels, helping traders analyze key price points used by institutional players. Unlike traditional VWAP indicators that reset at the start of each period, this script extends the previous VWAP levels across the current period, providing strong reference points for support and resistance.

🔹 Key Features
✅ Multiple Timeframe VWAPs – Displays Daily, Weekly, and Monthly VWAPs for better trend analysis.
✅ Persistent Previous VWAPs – Keeps and extends previous period VWAP levels as horizontal lines.
✅ Customizable Appearance – Modify colors, line widths, and visibility of each VWAP level.
✅ VWAP Labels – Optional labels for quick reference to VWAP and previous VWAP values.
✅ Efficient Calculation – Optimized for smooth performance on all chart timeframes.

🔹 How It Works

VWAP Calculation

Uses hlc3 (high + low + close) / 3 as the default VWAP price source.
Accumulates price-volume data within each time period (day, week, or month).
Previous VWAP Line Extension

When a new period begins, the final VWAP value of the previous period is stored.
A horizontal line is drawn at this level and extends across the current period.
Customizable Display

Enable/disable Daily, Weekly, and Monthly VWAPs independently.
Choose colors for VWAP and Previous VWAP lines.
Toggle labels for better visibility.
🔹 Why Use This Indicator?
📌 Identify Institutional Trading Zones – VWAP is widely used by hedge funds, banks, and algorithmic traders.
📌 Detect Key Support & Resistance Levels – Previous VWAP levels act as dynamic support and resistance.
📌 Improve Trade Entries & Exits – Use VWAP bounces and breaks for confirmation.
📌 Works on All Timeframes – Useful for scalpers, swing traders, and long-term investors.

🔹 Best Use Cases
📍 Trend Confirmation – Price above VWAP suggests an uptrend; below VWAP indicates a downtrend.
📍 Support & Resistance Trading – Use previous VWAP levels as key reaction zones.
📍 Breakout & Mean Reversion Strategies – Combine with price action for high-probability trades.

📢 Try it out and elevate your trading strategy with institutional-grade VWAP levels! 🚀