Abbreviation: VolWgtAvg Envelope Low
Category: Advanced Volume Weighted Moving Average
Input Parameters:
| Name | Range | Default |
| Time Series | Close | |
| Volume | Volume | |
| VolWgtAvg Periods | Int >= 1 | 5 |
| Envelope Fraction | Real > 0.0 | 0.25 |
Calculation:
VolWgtAvg(Time Series, Volume, n) * (1 – Envelope Fraction)
where
n = VolWgtAvg Periods
VolWgtAvg represents Volume Weighted Moving Average
Discussion:
Provides a band a certain fraction below the volume weighted moving average of price.