Dr. Steenbarger mentioned the 20-period VWAP line on the daily chart in a recent post. Above is the TradeStation EasyLanguage Code for the VWAP line that duplicates Dr. Steenbarger's line almost exactly. The length of the line is a variable input.
On the 620 tick chart above, I find that a 50 - period VWAP works well. Notice how the line acts as support and resistance when the market starts trending.
This morning the $TICK has been in a consistent downtrend.
Thus setting up some nice short trades on the 1-minute chart.
Charles
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