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    VWAP Master: A Free VWAP Indicator With Bands and Bounce Signals

    VWAP Master is our newest free, open-source TradingView indicator. Smooth deviation bands, stretched tags and bounce arrows show when price is far from value and starting to snap back.

    Nikolas MetreveliNikolas MetreveliFounder of SimpleAlgo3 min read
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    VWAP Master: A Free VWAP Indicator With Bands and Bounce Signals


    VWAP Master: A Free VWAP Indicator With Bands and Bounce Signals

    VWAP Master is our newest free indicator on TradingView. It's open source, so anyone can add it, read the code and use it on any chart.

    VWAP Master is one of the five free indicators covered in this walkthrough, starting at 4:23.

    Watch: 5 free TradingView indicators I actually use
    • Pullback Master (0:30): spotting pullbacks inside a trend
    • RSI Master (2:51): reading momentum more clearly
    • VWAP Master (4:23): where fair value sits during the session
    • Trend Master (6:36): filtering out chop by trend direction
    • Reversal Master (7:48): seeing when a move is stretched

    VWAP Master on an S&P 500 futures chart

    Add VWAP Master on TradingView

    What VWAP tells you

    VWAP is the volume weighted average price. Think of it as the market's "fair value" for the period. When price drifts far above or below it, it's stretched. VWAP Master is built to show you exactly how stretched, and when price starts heading back.

    What you see on the chart

  1. VWAP line. It changes color when price clears VWAP and holds there for a few bars, so it doesn't flicker on every touch.

  2. Deviation bands. Layered bands start 1.5 standard deviations from VWAP and are 1.75 deviations thick. They widen and narrow with volatility.

  3. Stretched tags. A small tag once price is deep enough into a band for a bounce to count. It's the heads-up that a signal may follow.

  4. Bounce arrows. An arrow prints when price pushes at least 2 deviations from VWAP, then closes back toward it. You get one per visit to the band, however many times price dips in and out. A + means price reached the outer edge of the band first.

  5. Colored candles. Up color above VWAP, down color below. The further from VWAP, the brighter the candle.

  6. Panel. How many deviations price is from VWAP, its status (for example "Stretched above value"), whether VWAP is rising or falling, and the last event.

    7. Pick your anchor

  7. Rolling (default): a VWAP over the last 100 bars that never resets, so it stays smooth.

  8. Session, Week, Month or Year: restarts at the start of each period, the way a classic VWAP does.

    9. Symbols with no volume data fall back to a time weighted average, so it still works on them.

    Settings worth knowing

  9. Skip bounces against the trend. When VWAP is rising, only bounces up from the lower band print. When it's falling, only bounces down from the upper band.

  10. Band starts at. Move the inner edge of the band closer or further from VWAP.

  11. Band smoothing. Makes the bands breathe instead of stepping (Rolling only).

  12. Themes. Neon, Classic, Aurora, Ice or your own colors.

    13. How to use it

    VWAP Master is a context tool. A bounce arrow tells you price was stretched and has started to turn back toward value. It doesn't tell you the trade will work. Pair it with your own levels, the trend, and a clear stop. It also sits nicely alongside Pro Signals V5 if you're a member.

    See every free and premium tool in the indicator library.

    SimpleAlgo provides educational tools and chart analysis. Nothing here is financial advice. Trading involves substantial risk of loss, and past performance does not guarantee future results.

    Filed under

    #vwap master#vwap#free indicator#tradingview#open source
    Nikolas Metreveli, Founder of SimpleAlgo

    Written by

    Nikolas Metreveli

    Founder of SimpleAlgo

    Nikolas wrote his first real code at 12 and freelanced software tools and websites for small businesses before finding the markets at 15. He builds and maintains every SimpleAlgo indicator and writes these guides from hands-on use of the tools.

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    More about Nikolas and SimpleAlgo

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