A form of volume-weighted average price (VWAP) in which all orders filled over the entire trading day are considered in the calculation of the price. In other words, it relates the dollar volume traded to the corresponding volume over the period of time in question, including all transactions executed over the entire day.

This measure takes all transactions within a day into account and does not exclude a trader’s own transaction volume.

Otherwise, there would be another measure known as an intraday volume-weighted average price (intraday VWAP).