VWAP Multi-Timeframe

The VWAP Multi-Timeframe indicator is a comprehensive tool that provides volume-weighted average price calculations across multiple time horizons to help traders identify key trend control areas and institutional value levels. By analyzing VWAP across intervals ranging from 15 minutes to 1 year, the script helps users align their trades with both short-term momentum and long-term structural trends.

Usage

The indicator can be used to identify trend direction and potential support/resistance zones. Traders often look for price reactions when the market approaches these levels.

• Trend Filtering: The script outputs a "Trend Direction" value (1 for bullish, -1 for bearish, 0 for neutral). This can be used as a filter for other signal-generating indicators; for example, only taking buy signals when the value is 1.
• Support/Resistance: Use lower timeframe VWAPs (e.g., 15m, 1h) for intraday entries and exits, while using higher timeframe VWAPs (e.g., Daily, Weekly, Yearly) as major trend benchmarks.
• Visual Cues: The trend table provides an at-a-glance view of whether the current price is above or below major institutional VWAPs (Daily, Weekly, Monthly, Yearly).

Details

VWAP (Volume Weighted Average Price) is calculated by taking the dollar value of all trading periods and dividing it by the total volume for that period. This indicator uses a multi-timeframe approach by resetting the calculation at the start of specific intervals (15m, 30m, 1h, 2h, 4h, 6h, 8h, 12h, 1D, 1W, 1M, 3M, 6M, 1Y).

• Trend Logic: A bullish status (1) is achieved only when the price is above all active VWAPs. A bearish status (-1) occurs when the price is below all active VWAPs. If the price is mixed (above some, below others), the status is neutral (0).
• Data Handling: For higher timeframe calculations (Daily and above), the script utilizes request.security to ensure accurate historical volume weighting.

Settings

Source Value

• Source Value To Use For VWAP: Determines the price source (e.g., HLC3, Close) used for all calculations.

Labels

• All Labels On/Off: Toggles all text labels globally.
• Label Offset: Adjusts the horizontal distance of the label from the current bar.

Trend Color Fills

• Up/Down Trend Color: Sets the colors used for background fills between the price and the VWAP lines.

VWAP Configurations (Per Timeframe)

• VWAP On/Off: Enables or disables the specific timeframe calculation.
• Line Color/Linewidth: Customizes the visual appearance of the VWAP plot.
• Trend Color Fill On/Off: Toggles the shaded area between price and the VWAP.
• Label On/Off: Toggles the specific timeframe text label.

Trend Table

• VWAP Trend Table On/Off: Toggles the visibility of the summary table.
• Table Position: Allows placement in various corners or centers of the chart.
• Bullish/Bearish Trend Color: Customizes the background colors used within the table cells.

FAQ

How do I use the trend direction value in my own scripts?

The indicator provides a data plot named "VWAP Multi-Timeframe: Trend Direction To Send To External Indicators". You can use the input.source or external indicator selection in TradingView to point your signal script to this value.

Can this be used on crypto or forex?

Yes, this indicator works on any market that provides volume and price data, including Stocks, Crypto, and Futures. For Forex, it uses the broker-provided tick volume.

How can I access VWAP Multi-Timeframe?

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