The calculation uses both the number of seconds into the session, along with a percentage of current VWAP, to build the band multiples. Percent w/ Time - This option builds bands off both time and price based components.Proprietary - This option is a work in progress and currently being kept proprietary.Constant $ Value - A constant $ Value above and below the VWAP.3 x Avg Bar Range - Three times the average range (hi - lo) of last 20 bars.1/4 Days Range - One quarter of the range to that point in the day/session.Standard Deviation (CL vs VWAP) - The standard deviation between the closing price and the VWAP line, computed on a cumulative basis from the start of the session.The VWAP Indicator has options to draw one or two bands around the VWAP, as well as a variety of options for computing those bands. It is calculated by summing the price & volume of each bar or tick, over the entire session, and then dividing that by the sum of the volume for the session. It is a measure of the average price a stock traded at over the trading horizon. VWAP is the ratio of the value traded to total volume traded over a particular time horizon (usually one session).
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