OPEN-SOURCE SCRIPT
VWAP + FVG Detector
A VWAP + FVG Detector is a tool used in trading that combines two concepts to identify potential trading opportunities. VWAP (Volume Weighted Average Price) represents the average price of a stock, adjusted for the amount of trading volume at each price level throughout the day. Traders use it to assess whether the stock is overbought or oversold. On the other hand, FVG (Fair Value Gap) refers to gaps in price where the market has not fully adjusted or filled in, suggesting areas where price might return to a "fair value." The VWAP + FVG Detector helps traders spot moments when the price moves away from the VWAP and into an FVG, signaling possible price corrections or reversals. This combination allows traders to predict potential price movements, as the market often moves back toward the VWAP or fills in the gaps where price has been imbalanced.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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