VWAP / ORB / VP & POC

Oct 2

This is an all-in-one technical analysis tool designed to give you a comprehensive view of the market on a single chart. It combines three powerful indicators—VWAP, Opening Range, and Volume Profile—to help you identify key price levels, understand intraday trends, and spot areas of high liquidity.

What It Does
The indicator plots three distinct components on your chart:

1. Volume-Weighted Average Price (VWAP): A benchmark that shows the average price a security has traded at throughout the day, based on both price and volume. It's often used by institutional traders to gauge whether they are getting a good price. The script also plots standard deviation or percentage-based bands around the VWAP line, which can act as dynamic support and resistance.
   
2. Opening Range Breakout (ORB): A tool that highlights the high and low of the initial trading period of a session (e.g., the first 15 minutes). The script draws lines for the opening price, range high, and range low for the rest of the session. It also colors the chart with zones to visually separate price action above, below, and within this critical opening range.
   
3. Volume Profile (VP): A powerful study that shows trading activity over a set number of bars at specific price levels. Unlike traditional volume that is plotted over time, this is plotted on the price axis. It helps you instantly see where the most and least trading has occurred, identifying significant levels like the Point of Control (POC)—the single price with the most volume—and the Value Area (VA), where the majority of trading took place.
   

How to Use It for Trading

• The real strength of this indicator comes from finding confluence, where two or more of its components signal the same key level.
  
• Identifying Support & Resistance: The POC, VWAP bands, Opening Range high/low, and session open price are all powerful levels to watch. When price approaches one of these levels, you can anticipate a potential reaction (a bounce or a breakout).
  
• Gauging Intraday Trend: A simple rule of thumb is to consider the intraday trend bullish when the price is trading above the VWAP and bearish when it is trading below the VWAP.
  
• Finding High-Value Zones: The Volume Profile’s Value Area (VA) shows you where the market has accepted a price. Trading within the VA is considered "fair value," while prices outside of it are "unfair." Reversals often happen when the price tries to re-enter the Value Area from the outside.
  

Settings:
Here’s a breakdown of all the settings you can change to customize the indicator to your liking.

Volume Profile Settings:

• Number of Bars: How many of the most recent bars to use for the calculation. A higher number gives a broader profile.
  
• Row Size: The number of price levels (rows) in the profile. Higher numbers give a more detailed, granular view.
  
• Value Area Volume %: The percentage of total volume to include in the Value Area (standard is 70%).
  
• Horizontal Offset: Moves the Volume Profile further to the right to avoid overlapping with recent price action.
  
• Colors & Styles: Customize the colors for the POC line, Value Area, and the up/down volume bars.
  

VWAP Settings:

• Anchor Period: Resets the VWAP calculation at the start of a new Session, Week, Month, Year, etc. You can even anchor it to corporate events like Earnings or Splits.
  
• Source: The price source used in the calculation (default is hlc3, the average of the high, low, and close).
  
• Bands Calculation Mode:
  
• Standard Deviation: The bands are based on statistical volatility.
  
• Percentage: The bands are a fixed percentage away from the VWAP line.
  
• Bands Multiplier: Sets the distance of the bands from the VWAP. You can enable and configure up to three sets of bands.
  

ORB Settings (Opening Range)

• Opening Range Timeframe: The duration of the opening range (e.g., 15 for 15 minutes, 60 for the first hour).
  
• Market Session & Time Zone: Crucial for ensuring the range is calculated at the correct time for the asset you're trading.
  
• Line & Zone Styles: Full customization for the colors, thickness, and style (Solid, Dashed, Dotted) of the High, Low, and Opening Price lines, as well as the background colors for the zones above, below, and within the range.
  

Oct 3

Release Notes

Update: 03/10/2025

1. Added ORB Percentage Targets
draws line at four user defined percentage values away from high and low of ORB.
This can be turned on/off (default: 50%,100%,150%,200%)
2. Added line at centre of range

Oct 3

Release Notes

Update: 03/10/2025

• Bollinger Band to the indicator. (work same as TradingView's Bollinger Band)
  

Oct 3

Release Notes

Updated chart