Elastic Volume Weighted Moving Average (eVWMA)
eVWMA is a statistical measure using the volume to define the period of the moving average. It incorporates volume information in a natural and logical way. The eVWMA can be looked at as an approximation to the average price paid per share. The ability to "Use Average Volume" as your volume period, makes this indicator both symbol-independent and timeframe independent. This allows the use to switch both timeframe and symbol without having to change the volume period.