The Volume Weighted Average Price (VWAP) by Brian Shannon is the daily benchmark that measures the success of institutional buy and sell orders. It has been used since its introduction in 1988.
Over the last two decades, the use of VWAP as an intraday analysis tool has grown as more participants have come to recognize how institutional orders are based around the daily VWAP.
More recently, the “Anchored” VWAP (“AVWAP”) has become widely adopted as access to this tool has grown to be included in many popular charting platforms.