Retailers need a VWAP (volume weighted average price) widget

canadaduane (OP)

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Retailers need a VWAP (volume weighted average price) widget

June 07, 2011, 05:50:49 PM

Does anyone know of a website/widget where one can go to average out some of the volatility over the past little while, and get a USD/BTC rate out?

For example, if I'm a retailer and I want to offer a "spot" price to a customer buying some of my goods, what price should I offer? I'd like to see a widget where I can type in the number of days to average (say, "7") and get a $/BTC value back.

Already built somewhere?

Stephen Gornick

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Re: Retailers need a VWAP (volume weighted average price) widget

June 07, 2011, 06:21:05 PM

Quote from: canadaduane on June 07, 2011, 05:50:49 PM

I'd like to see a widget where I can type in the number of days to average (say, "7") and get a $/BTC value back.

A widget for displaying price using that is easy. Getting your shopping cart software to display and use that price using that is a little more complicated, requiring customization likely at this point.

As far as a widget -- here's a thread on one:
http://forum.bitcoin.org/index.php?topic=8895.0
Perhaps either of the widget authors from the thread will consider adding a configurable weighted average.

[Edit: a json feed with weighted average prices (1-day, 7-day, 30-day) here: http://bitcoincharts.com/t/weighted_prices.json ]

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MoonShadow

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Re: Retailers need a VWAP (volume weighted average price) widget

June 07, 2011, 06:33:20 PM

Quote from: canadaduane on June 07, 2011, 05:50:49 PM

Does anyone know of a website/widget where one can go to average out some of the volatility over the past little while, and get a USD/BTC rate out?

Bitcoinwatch.com has 24hour, 7 day, and 30 weighted average statistics on the bottom of the main page. If you can extract that number once a day, you should be able to set prices automaticly. If need be, take the 24 hr number and add an extra 1% to cover your but against the near term voltility.

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canadaduane (OP)

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Re: Retailers need a VWAP (volume weighted average price) widget

June 07, 2011, 07:20:50 PM

Quote from: Stephen Gornick on June 07, 2011, 06:21:05 PM

Quote from: canadaduane on June 07, 2011, 05:50:49 PM

I'd like to see a widget where I can type in the number of days to average (say, "7") and get a $/BTC value back.

Thanks, this is just what I was looking for.

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