Multi-Anchor VWAP + ATR Utilization
Multi-Anchor VWAP + ATR Utilization
This indicator plots several anchored VWAPs on one chart and tracks how much of the instrument’s average daily range has been used. It helps you judge where fair value sits across timeframes and how much room price likely has left to move.
Multi-Anchor VWAP
Plots VWAPs anchored to different periods, such as session, week, month, or a custom anchor date/time.
Each VWAP can have its own color and visibility setting, plus optional standard-deviation bands.
When several VWAPs cluster together, that level often acts as strong support or resistance. When they spread apart, it signals trend and value migration.
ATR Utilization
Compares the current day’s range (high minus low) to the Average True Range over a lookback you set.
Shows the result as a percentage of ATR used, so you can see whether the day is still “early” in its typical range or already extended.
Readings near or above 100% suggest the expected move is largely done, so extensions become less likely and mean reversion toward VWAP more likely. Low readings suggest there is still room for expansion.
How to use
Look for pullbacks to a key VWAP while ATR utilization is still low, since the move has room to continue.
Be cautious chasing breakouts when ATR utilization is already high.
Use VWAP confluence zones as targets and as levels to manage risk.
Settings
Anchor periods and custom anchor time
VWAP source and band multipliers
ATR length and timeframe
Colors, labels, and table position
This script is for educational purposes only and is not financial advice.
If you paste the code, I’ll tighten this so every input and feature named matches what the script actually does.
This indicator plots several anchored VWAPs on one chart and tracks how much of the instrument’s average daily range has been used. It helps you judge where fair value sits across timeframes and how much room price likely has left to move.
Multi-Anchor VWAP
Plots VWAPs anchored to different periods, such as session, week, month, or a custom anchor date/time.
Each VWAP can have its own color and visibility setting, plus optional standard-deviation bands.
When several VWAPs cluster together, that level often acts as strong support or resistance. When they spread apart, it signals trend and value migration.
ATR Utilization
Compares the current day’s range (high minus low) to the Average True Range over a lookback you set.
Shows the result as a percentage of ATR used, so you can see whether the day is still “early” in its typical range or already extended.
Readings near or above 100% suggest the expected move is largely done, so extensions become less likely and mean reversion toward VWAP more likely. Low readings suggest there is still room for expansion.
How to use
Look for pullbacks to a key VWAP while ATR utilization is still low, since the move has room to continue.
Be cautious chasing breakouts when ATR utilization is already high.
Use VWAP confluence zones as targets and as levels to manage risk.
Settings
Anchor periods and custom anchor time
VWAP source and band multipliers
ATR length and timeframe
Colors, labels, and table position
This script is for educational purposes only and is not financial advice.
If you paste the code, I’ll tighten this so every input and feature named matches what the script actually does.
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