Multi VWAP for Wick Hunter

The Multi VWAP for Wick Hunter indicator provides a comprehensive solution for traders needing multiple Volume Weighted Average Price (VWAP) benchmarks and deviation bands within a single indicator slot. This tool is specifically designed to streamline chart setups by allowing up to three independent VWAP configurations, each with customizable lookback periods and percentage-based deviation limits for identifying potential long and short entries.

Usage

The Usage of the Multi VWAP for Wick Hunter allows traders to monitor various market conditions or different bot settings simultaneously. For instance, you can configure Set 1 for conservative long-term trends and Set 2 for aggressive short-term scalping.

• Entry Signals: The tool plots triangle shapes when the price crosses outside the specified percentage bands. A triangle below the bar indicates a potential long entry (price below the lower band), while a triangle above indicates a potential short entry (price above the upper band).
• Multi-Bot Management: Users can align different sets to match specific bot configurations (e.g., Binance Bot vs. Bybit Bot) to ensure manual charting matches automated execution.
• Consolidation: By combining three VWAPs into one script, it saves valuable indicator slots on the TradingView platform.

Details

This script is built upon the foundational logic of the "Wick Hunter VWAP" by STP Todd. It calculates the VWAP using a Volume Weighted Moving Average (VWMA) of the HLC3 price (Average of High, Low, and Close).

A key technical feature is the automatic timeframe normalization. The indicator takes a user-defined timeframe in minutes and converts it to a chart-relative period. This ensures that the VWAP calculation remains consistent even when switching between different chart resolutions (e.g., from a 1-minute chart to a 5-minute chart). If the calculated period is too low for accurate representation, an on-chart warning label will appear.

Settings

The settings are organized into three identical blocks for each of the three VWAP instances:

• Timeframe, minutes: The reference timeframe used for the calculation, expressed in minutes.
• Period: The lookback period for the VWMA calculation.
• Long VWAP, %: The percentage offset below the VWAP line used to trigger long signals.
• Short VWAP, %: The percentage offset above the VWAP line used to trigger short signals.

FAQ

How do I enable the second and third VWAP sets?

By default, sets [2] and [3] may be set to "None" in the visual display. You can enable their visibility and adjust their transparency in the "Style" tab of the indicator settings.

What does the "Low Chart Resolution" warning mean?

This warning appears if the combination of your input "Timeframe" and "Period" results in a calculation window of less than 2 bars on your current chart. To fix this, increase the input Period or use a lower timeframe chart.

How can 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.