2GS Trading VWAP

The 2GS Trading VWAP indicator provides a comprehensive suite of anchored VWAPs and session-based technical levels designed for intraday analysis. It simplifies market regime identification by tracking weekly, yearly, and session-specific volume-weighted average prices alongside a multi-market bias table.

Usage

The Usage section describes how the script can be used to identify key support/resistance levels and overall market sentiment.

VWAP Overlays

The indicator draws multiple anchored VWAPs directly on the chart. These act as dynamic levels where institutional interest is often concentrated:

• Time-Based Anchors: Includes Start of Week, Current Day, and Previous Day VWAPs.
• Extreme-Based Anchors: Automatically re-anchors to the Week High/Low and Year High/Low. The Year High/Low lines use a self-erasing polyline to ensure only the most recent anchor is visible.
• Session Anchors: Tracks the London and NYSE sessions. Each session runs for two cycles (Current and Previous) to provide continuity in price action analysis.

Session Bias Table

The script includes a dashboard that monitors five user-selected symbols. For each symbol, it evaluates:

• Position vs. VWAPs: Checks if the current price is above the Current Day, Previous Day, Prev-Day London, and Prev-Day NYSE VWAPs.
• Value Area Position: Determines if the price is above (Bullish), below (Bearish), or inside (Neutral) the Previous Day Value Area.
• Aggregated Bias: Tallies these signals into a singular Bull/Bear read for the session.

Details

The indicator is optimized for intraday timeframes ranging from 1-minute to 1-hour charts. It utilizes a custom calculation method to handle "Previous" session cycles, ensuring that as a new session starts, the previous data remains available for comparison until the next anchor point.

The Previous Day Value Area (VAH, VAL, and POC) is calculated using a bin-based volume profile approach. The script divides the previous day's range into a user-defined number of bins to find the price zone where the specified percentage of volume (default 70%) was traded.

Settings

VWAP — Show / Hide & Colours

• Start of Week / Week High / Week Low: Toggles the visibility and colors of weekly anchored VWAPs.
• Year High / Year Low: Toggles the visibility and colors of yearly extreme anchored VWAPs.
• Session VWAPs: Individual toggles for Current/Previous London, NYSE, and Daily VWAPs.

5-Day SMA & Value Area

• Show 5-Day Daily SMA: Plots a 5-period Simple Moving Average sourced from the Daily timeframe.
• Profile resolution (bins): Determines the precision of the Value Area calculation.
• Value Area %: Sets the volume percentage used to calculate the Value Area High and Low.

Session Anchor Times

• Session timezone: The reference timezone for session inputs (Default: GMT+2).
• London / NYSE session: Defines the start and end times for these specific trading windows.

Session Bias Table

• Table position: Controls where the dashboard appears on the chart.
• Market 1-5: Symbol inputs for the five markets tracked in the bias table.
• Show overall bias row: Toggles the final Bull/Bear summary row.

FAQ

How do I adjust the session times for Daylight Savings? You can manually shift the "London session" and "NYSE session" inputs in the settings. For example, if moving from summer to winter time, you may need to shift the hours by +1.

Why are the Year High/Low lines disappearing? These lines are programmed as self-erasing polylines. They automatically re-anchor when a new yearly extreme is hit, removing the previous line to keep the chart clean and focused on the current relevant anchor.

How do I get access to this tool? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.