Chart VWAP

The Chart VWAP indicator provides a dynamic Volume-Weighted Average Price that automatically anchors to the leftmost visible bar on your chart, recalculating in real-time as you scroll or zoom. This tool allows traders to analyze volume-weighted price action specifically for the data range currently being viewed, offering a more flexible alternative to traditional fixed-anchor or session-based VWAP indicators.

Usage

The indicator can be used to identify the average price weighted by volume for any specific section of price history by simply adjusting the chart view.

• Dynamic VWAP: Displays the volume-weighted average price starting from the first bar visible on the screen.
• Bar Average: An optional gray line representing the simple arithmetic mean of the closing prices within the visible range. This serves as a comparison tool against the volume-weighted value.
• Standard Deviation Bands: You can enable bands by setting a multiplier greater than zero. These bands help identify overextended price moves relative to the visible VWAP.
• Visible OHLC Levels: When enabled, the tool plots horizontal lines for the Open, High, Low, and Close of the entire visible range.
• High/Low Statistics: Labels can display the price of the visible highs and lows, including the percentage distance from the current visible closing price.

Details

This script utilizes the chart.left_visible_bar_time variable to detect the start of the visible range. Unlike standard indicators that calculate over a fixed lookback or from the start of a trading session, this script triggers a recalculation whenever the chart's visible boundaries change (zooming or scrolling).

It leverages the VisibleChart library to efficiently handle calculations restricted to visible bars, including the vVwap() function which anchors the ta.vwap() calculation to the dynamic starting point of the viewport.

Settings

• Show bar average: Toggles the display of the simple average close price for visible bars.
• Show chart OHLC levels: Displays horizontal lines marking the extreme points and boundaries of the visible price action.
• Show HL and % to close values: Adds descriptive labels to the High and Low levels, showing price and percentage distance from the close.
• Standard deviation multiplier: Determines the width of the VWAP bands. Set to 0 to hide the bands.

FAQ

How do I use Chart VWAP?

Simply add it to your chart and scroll or zoom. The indicator will automatically reset its anchor point to the furthest bar on the left of your current view.

Can I use this for intraday and daily timeframes?

Yes, the indicator is timeframe-agnostic and will recalculate based on whatever bars are currently rendered on your screen.

How can I access this tool?

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