VWAP LEVELS [PRO]

The VWAP LEVELS [PRO] indicator is a comprehensive technical analysis tool designed to track 32 different VWAP levels simultaneously, helping traders identify institutional support and resistance across multiple timeframes. It utilizes a color-coded system and an integrated dashboard to reduce cognitive load while highlighting price significance relative to key pivot levels.

Usage

The indicator can be used to identify high-probability bounce zones or trend confirmation points. Traders often use these levels in confluence with other signals; for example, observing a bar close above the developing 1D VWAP while a moving average crossover occurs can signal a bullish entry.

The tool features an "OC Check Mode" which provides a four-state market sentiment analysis based on the relationship between VWAP from Open, VWAP from Close, and standard HLC3 VWAP:

• Green (Strong Uptrend): Price is bullish across all internal VWAP metrics.
• Light Green (Weak Uptrend): Price shows emerging bullishness.
• Light Red (Weak Downtrend): Price shows emerging bearishness.
• Red (Strong Downtrend): Price is bearish across all internal VWAP metrics.

Details

The script tracks both "Current" and "Previous" VWAP levels across a wide array of timeframes (from 30m up to Yearly). It incorporates advanced label management, allowing for "at level" and "at right" positioning to ensure visibility regardless of chart zoom levels. The logic accounts for convergence at the start of new periods (weeks, months, years) where multiple timeframe VWAPs begin at the same price point before diverging as the period progresses.

Settings

Global Options

• Show Ticker, Time Frame & Trading Hrs: Displays current asset info in the table header.
• Trading Hours: Switch between Regular (Reg) and Extended (Ext) sessions.
• Significant Figures: Rounds the price display on labels for better readability.
• Label/Table Sizes: Customizable scaling for all UI elements.

Level Settings

Each of the 32 VWAP levels (including 30m, 1h, 4h, 1D, 1W, 1M, etc.) includes:

• Enable Level/Table: Toggle visibility for specific timeframes.
• OC-Check-At Right/Level: Enables the 4-state color coding for that specific timeframe.
• Label Padding: Adjusts the horizontal offset for labels to prevent overlapping.
• Plotstyle: Choose between Line, Circles, or Cross for the price visualization.

FAQ

How do I interpret the colors in the table? The colors represent the "OC Check" logic. Green/Light Green indicates varying strengths of an uptrend, while Red/Light Red indicates varying strengths of a downtrend based on the relationship between different VWAP calculation methods.

Why are multiple levels showing the same price? At the beginning of a new period (like a new Year or Month), the starting data for multiple timeframes is identical. These levels will diverge as more market data is processed for their respective durations.

How can I access VWAP LEVELS [PRO]? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.