VWAP From Multiple Sources With Cloud & Percentage Gap
VWAP stands for volume weighted average price and shows the average price of buys/sells based on volume traded across the current session. This VWAP is based off of the Daily session.
How To Use
Use the purple cloud between the VWAPs as your entry points as price will typically bounce from that cloud area.
The Yellow Line is the VWAP using the close price as a source. The Green Line is the VWAP using the open price as a source. The Blue Line is the VWAP using the high price as a source. The Purple Line is the VWAP using the low price as a source.
When price is above the VWAP cloud, the background will paint green because the trend is bullish. When price is below the VWAP cloud, the background will paint red because the trend is bearish. In the bottom right hand corner, three is a table that will show you the current percentage gap between current price and the VWAP using close as the source. All sources and colors can be easily switched in the settings menu.
This vwap indicator can be used on all timeframes but is calculated using the daily session.
Try using numerous indicators of ours on your chart so you can instantly see the bullish or bearish trend of multiple indicators in real time without having to analyze the data. Some of our favorites are our RSI Scalper Ribbon, Auto Support & Resistance With Wick Signals, Portfolio Tracker, Combined Moving Averages, 1 Minute Scalping Indicator and Higher Timeframe Price Action Scanner in combination with this VWAP Cloud. The other indicators all have real time Bullish and Bearish labels as well so you can immediately understand each indicator’s trend.
May 11, 2022: Added the ability to turn the bull/bear label on or off for better viewing on the mobile app or users that don’t want the label.