VWAP (Bullish/Bearish Coloring)

VWAP (Bullish/Bearish Coloring)

Overview

VWAP (Bullish/Bearish Coloring) is a Pine Script v6 indicator for TradingView that plots a Volume-Weighted Average Price (VWAP) with customizable anchor periods and optional upper/lower bands. It can apply peak/trough-based coloring to reflect recent swing direction. Optional resets tied to corporate actions help maintain continuity over longer periods. It is commonly used to review dynamic support/resistance behavior across timeframes.

How It Works

The indicator computes VWAP using TradingView’s ta.vwap, weighting the selected price source (default: HLC3) by volume and resetting at user-defined anchors (e.g., Session, Week, Month, Earnings). Bands are calculated using either standard deviation or percentage offsets (default multipliers: 1.0, 2.0, 3.0). Peak/trough detection (ta.pivothigh, ta.pivotlow, default lookback: 5 bars) can color the VWAP and bands to reflect recent swing context. Optional resets can reference request.earnings, request.dividends, and request.splits. The VWAP can be hidden on daily or higher timeframes.

Key Features

• Dynamic VWAP Calculation: Resets at user-selected anchors (Session, Week, Month, Quarter, Year, Decade, Century, Earnings, Dividends, Splits).
• Peak/Trough Coloring: Optional swing-based coloring for VWAP and bands.
• Customizable Bands: Up to three band pairs using standard deviation or percentage offsets.
• Flexible Anchors: Time-based or corporate-action-based resets.
• Customizable Visuals: Adjustable colors, opacity, and offsets.
• Timeframe Option: Hide VWAP on daily or higher timeframes.

What It Displays

A VWAP line with optional bands and swing-based coloring, plus flexible anchor resets to align the measure with the user’s analysis framework. This provides a flexible tool for assessing trend context and potential support/resistance behavior across symbols and timeframes.

Originality

Pine v6 implementation using TradingView’s built-ins: ta.vwap, ta.pivothigh, ta.pivotlow, request.earnings, request.dividends, and request.splits.

Common Ways People Use It

• Intraday VWAP as a dynamic reference area.
• Swing alignment with broader context via alternative anchors.
• Reviewing volume-weighted price behavior with optional swing cues.

Configuration Notes

Choose the anchor period (default: Session), price source (default: HLC3), and band multipliers (default: 1.0/2.0/3.0). Optionally enable peak/trough coloring and toggle band visibility as needed.

Legal Disclaimer

This indicator is for informational and educational purposes only—not investment, financial, or trading advice. Past performance does not guarantee future results; trading involves significant risk. Provided “as is” without warranties. Consider consulting a qualified professional before making decisions.