Order Flow
VWAP
VWAP Bands from candle volume. Works on every market.
Volume Weighted Average Price (VWAP Bands) plots the average price paid over the anchored window, weighted by volume (the fair-value line institutions benchmark against), with up to three standard-deviation band pairs around it.
It uses candle price and volume, so it works on every market, including forex and commodities. Add VWAP from the indicator library.
Settings
- Anchor Period: determines when the average restarts. The example uses Session.
- Source: the per-bar price the average weights: HLC3 (default), OHLC4, or Close.
- Bands Mode and Bands 1–3: choose the band mode, enable each band, and adjust its multiplier. The example has Band 1 enabled and Bands 2 and 3 disabled.
- Hide VWAP on 1D or Above: hide the indicator on daily and higher timeframes.
Reading it
Price above VWAP means the average participant in the window is in profit on longs; extended moves toward the outer bands mark statistically stretched prices for that session. The bands are recomputed from the anchor, so a fresh day's bands start tight and widen as the session accumulates data.