VWAP with Prev. Session Bands

15 Jul

VWAP with Prev. Session Bands is an advanced indicator based on TradingView’s original VWAP. It adds configurable standard deviation or percentage-based bands, both for the current and previous session. You can anchor the VWAP to various timeframes or events (like Sessions, Weeks, Months, Earnings, etc.) and selectively show up to three bands.

The unique feature of this script is the ability to display the VWAP and bands from the previous session, helping traders visualize mean reversion levels or historical volatility ranges.

Built on top of the official TradingView VWAP implementation, this version provides enhanced flexibility and visual clarity for intraday and swing traders alike.

2 Ogo

Nota Keluaran

Update to improve clarity of the script and ensure compliance with the House Rules.

This script builds on TradingView’s official VWAP by adding historical volatility and mean-reversion context. It overlays an anchored VWAP and configurable surrounding bands (either standard deviation or fixed percentage) for both the current and previous session, with flexible anchoring to sessions, weeks, months, earnings, or other events. Up to three bands per session can be shown independently, providing dynamic and historical reference levels.

WHAT IT DOES

• Calculates and plots an anchored VWAP for the chosen reference period.
  
• Adds up to three volatility/dispersion bands around VWAP, selectable as standard deviation or percentage-based.
  
• Separately displays the prior session’s VWAP and its bands to give historical benchmarks for mean reversion, breakouts, and volatility comparison.
  
• Supports flexible anchoring, making it suitable for intraday scalping (e.g., 1–5 minute charts) and longer-horizon swing setups.
  

KEY PARAMETERS

• Band Type: Standard deviation vs percentage.
  
• Number of Bands: Up to three per session.
  
• Anchoring Reference: Session, week, month, earnings, etc.
  
• Display Toggles: Independent enable/disable for current vs previous session VWAP and bands.
  
• Visual Styling: Clear labels and distinct visual separation to ensure the output is immediately identifiable.
  

PERSONAL USE EXAMPLE
I duplicate the script to anchor it to multiple timeframes (session, monthly, quarterly, annual) on the same chart or across charts with various timeframes (3m, 10m, 30m, 1h). I exploit confluence between VWAP and bands from different timeframes by combining their dynamic levels with static reference levels from previous sessions. When price accepts or rejects key levels alongside specific candlestick patterns, I choose the entry type. For additional confirmation I combine this script with Volume Profile, TPO, and Footprint—these tools are external and not included in or required by the script.


Recommended disclaimer:
This indicator is provided for educational and informational purposes only. It is not financial advice or a recommendation to buy or sell. Trading decisions should incorporate risk management and multiple confirmations.