Market VWAPs

The Market VWAPs indicator automatically plots multiple anchored volume-weighted average price lines for specific trading sessions and daily opens, providing a dynamic view of value distribution across global market hours.

Usage

The Market VWAPs tool is designed to eliminate the manual task of anchoring VWAPs for each trading session. By defining specific session times in the settings, the indicator automatically starts a new VWAP calculation at the beginning of each specified window.

Traders can use these session-specific VWAPs to:

• Identify key support and resistance levels established during specific regional trading hours (Asian, London, USA).
• Gauge price relative to the "average" price of a particular session.
• Monitor price crosses against session value areas for potential trend shifts or mean reversion opportunities.

The script also includes hard-coded anchors for Asian, London, and USA daily cycles, ensuring broader market context is always available.

Details

The indicator utilizes a custom function to calculate anchored VWAPs based on user-defined time ranges. When the current bar's time enters the specified session range, the cumulative price-volume (CPV) and cumulative volume (CV) are reset, and the VWAP is calculated as CPV / CV. This ensures that the calculation is fresh for every session. The script is also optimized with built-in alerts that trigger when the price crosses any of the active session VWAPs, allowing for real-time monitoring of key price levels.

Settings

Market sessions

• Session 1-5: Sets the time range (HHMM-HHMM) for each customizable anchored VWAP session. Use these to align the indicator with specific market opens or local trading hours.

FAQ

How do I use Market VWAPs?

You can use it to track institutional value across different trading sessions by looking for price reactions at the plotted lines.

Can I change the session times?

Yes, all five customizable sessions can be modified in the "Market sessions" group within the indicator settings.

How can I access Market VWAPs?

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