VWAP 3x Session Reset

The VWAP 3x Session Reset indicator provides a specialized Volume Weighted Average Price (VWAP) calculation that resets at the start of three distinct user-defined sessions, making it ideal for tracking intraday trends in futures and forex markets.

Usage

The Usage section focuses on how the indicator assists traders in identifying value areas across different market sessions. Users can define three specific time windows (e.g., Asian, London, and New York sessions) to observe how price evolves relative to volume-weighted averages within those specific periods.

Examples of usage include:

• Intraday Trend Identification: When price maintains a position above the VWAP line during an active session, it suggests a bullish intraday bias.
• Mean Reversion: Traders often look for price to return to the VWAP line or react off the standard deviation bands as potential exhaustion points.
• Session-Specific Analysis: Since the indicator hides itself when no session is active, it helps declutter the chart and focus analysis only on relevant trading hours.

Details

This script utilizes the ta.vwap function combined with session-based logic to handle resets. It detects the beginning of any of the three specified sessions to restart the cumulative volume and price calculations. To ensure accuracy across global markets, the script includes a configurable time zone setting. The standard deviation bands are set to a multiplier of 2.0, providing a statistical envelope around the average price that accounts for volatility.

Settings

Sessions

• Session 1: Sets the first time range for the VWAP calculation and display.
• Session 2: Sets the second time range for the VWAP calculation and display.
• Session 3: Sets the third time range for the VWAP calculation and display.
• Time Zone: Adjusts the session timing to match the specific market or local time zone required.

FAQ

How do I use this for different time zones?

You can adjust the "Time Zone" input in the settings menu to match your preferred exchange or local time (e.g., "America/Chicago" for CME futures).

Why do the lines disappear at certain times?

The indicator is designed to only plot during the sessions you have specified. If current price action falls outside of the three session windows, the lines will be hidden to keep the chart clean.

How can I access VWAP 3x Session Reset?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.