Free Automatic VWAPs

The Free Automatic VWAPs indicator provides a comprehensive suite of Volume Weighted Average Price (VWAP) tools and key intraday levels to help traders evaluate price action in context. It automatically plots various VWAP anchors, including session-specific starts, historical highs/lows, and higher timeframe references, while integrating opening range and initial balance calculations to identify critical institutional zones.

Usage

The tool is designed for intraday analysis, specifically for index futures like ES and NQ. It helps traders identify areas of high-interest where price might accept or reject institutional value.

• Session VWAPs: Use the New York session anchors to track the intraday value development from the US open.
• Opening Ranges: The script highlights the initial 15-minute Opening Range (adjustable) and the 60-minute Initial Balance Range to identify potential expansion or mean reversion boundaries.
• Key Level VWAPs: Higher timeframe anchors (Month, Year) and specific price anchors (High of Day/Year) allow you to see how current price relates to long-term value.

Details

The indicator utilizes Pine Script’s ta.vwap and custom polyline rendering to provide a clean visual interface that doesn't clutter the chart with historical lines unless specified. Unlike standard VWAP tools, this script allows for multiple concurrent anchors, enabling a "confluence" approach where traders look for overlapping VWAP levels from different timeframes or price extremes (High/Low anchors).

Settings

New York Session VWAPs

• Start of New York Session: Toggles the VWAP starting at the NYC open.
• Previous Day’s New York Open: Displays the VWAP anchor from the prior day's NYC session for historical context.
• Historical VWAPs: Controls how many previous session VWAPs remain visible on the chart.

Day VWAPs

• Start of Day VWAP: Toggles the standard daily VWAP.
• Bands: Enables standard deviation bands for the daily VWAP with adjustable multipliers.
• High/Low of Day VWAP: Anchors a VWAP specifically to the intraday high or low points.

Higher Timeframe VWAPs

• Start of Month/Year VWAP: Tracks value from the beginning of the current month or year.
• High of Year VWAP: Anchors a VWAP to the highest price point of the current year.

Ranges

• New York Opening Range: Configures the session time and visual style for the initial opening range (default 09:30-09:45).
• Day Initial Balance Range: Configures the session time and visual style for the Initial Balance (default 09:30-10:30).

FAQ

How do I use the Opening Range with VWAP?

Traders often look for price to hold above or below the Opening Range while staying on the same side of the New York Session VWAP to confirm intraday trend direction.

Can I change the session times for the ranges?

Yes, both the Opening Range and Initial Balance session times can be fully customized in the settings menu under their respective groups.

How do I access Free Automatic VWAPs?

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