ZWAP (ZigZag Anchored VWAP) [Kioseff Trading]

29 set 2023

Hello!

Quick script showcasing the new polyline function for Pine Script!

Features

• Up to 100 high/low pivot points auto anchored VWAP
  
• Visible range auto anchored VWAP
  
• Curved ZigZag (Adjustable!)
  

With the new polyline function, auto-anchored VWAP at specific price points is more viable.

When using line.new() only 500 lines can exist on the chart concurrently and, since VWAP is calculated on every update, a "proper" VWAP drawn using line.new() can extend 500 bars at most, to which no additional VWAP lines can be drawn after.

Of course, when using the plot() function a VWAP line will draw on every bar; however, this method isn't highly compatible with auto-anchoring VWAP lines.

However!

A polyline, from beginning to end irrespective of the number of coordinates used, constitutes 1 polyline; 100 can exist simultaneously with 10,000 xy coordinates per line.



The image above shows an attempt to draw the same auto-anchored VWAP lines using the line.new() function. Not an ideal outcome!



The image above shows the same attempt using the polyline.new() function!

Very nice (:



The image above shows the indicator auto anchoring to zig zag turning points.

Subsequent to a new anchoring, VWAP is calculated for the following bars - up to the current bar.

Thank you for checking this out; if you have any ideas to spice it up feel free to comment!

29 set 2023

Note di rilascio

Updated chart

29 set 2023

Note di rilascio

Greatly improved efficiency on lower timeframes