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VWAP Wave System [MMT]
VWAP Wave System [MMT] is a full-featured VWAP-based market structure indicator designed to help traders read session context, identify directional bias, and spot high-probability setups around VWAP and its deviation bands. It combines multiple anchored VWAPs, Initial Balance tools, setup signals, candle coloring, alerts, and a dashboard into one clean framework for intraday and swing-style session analysis.
How It Works
The indicator plots several VWAP references depending on what you enable:
Each VWAP can be turned on or off independently, and each one can display deviation bands to show how extended price is relative to that VWAP. This makes it easier to tell whether price is trading in balance, stretching into discovery, or reverting back toward value.
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How To Use It
A simple way to use this indicator is to start with the VWAP that matches your trading style:
From there, watch how price behaves around the VWAP bands:
Setup Signals
The indicator includes four main setup types, each with separate long and short signals:
These setups are designed to cover different market conditions. For example, S1 is useful when price accepts beyond a band and continues in that direction, while S2 looks for rejection after trading into an extreme. S3 is more of a return-to-balance setup, and S4 looks for a reaction off VWAP inside the value area.
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Initial Balance Tools
The Initial Balance section is useful for understanding the first part of the session and how price may react around that opening range. It can plot:
This is especially useful for traders who pay attention to opening range behavior, breakout continuation, or failed breakouts. The projections can help estimate common expansion targets based on the size of the initial balance range.
Candle Coloring And Dashboard
The candle coloring feature changes candle color based on how far price is from the intraday VWAP, helping you quickly see whether momentum is strong, moderate, or fading. That makes it easier to read whether the market is stretched or still comfortably within normal movement.
The dashboard provides a quick summary of:
Practical Workflow
A clean way to use the script is:
For example, if price opens strong, holds above the intraday VWAP, and accepts above the upper deviation band, that can support a continuation-style read. If price pushes into a band and immediately rejects back into value, that may be a cleaner fade or return-to-value opportunity.
Best For
This indicator is best for traders who want a structured way to trade around VWAP rather than using VWAP as a simple line on the chart. It works well for:
How It Works
The indicator plots several VWAP references depending on what you enable:
- Intraday VWAP for the current trading session, including optional deviation bands and value area fill.
- Weekly VWAP to show broader short-term bias.
- Monthly VWAP for higher-timeframe context.
- RTH VWAP for regular trading hours only, which is useful if you want a cleaner institutional-style session view.
Each VWAP can be turned on or off independently, and each one can display deviation bands to show how extended price is relative to that VWAP. This makes it easier to tell whether price is trading in balance, stretching into discovery, or reverting back toward value.
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How To Use It
A simple way to use this indicator is to start with the VWAP that matches your trading style:
- Use Intraday VWAP if you trade active sessions and want fast decision-making.
- Use RTH VWAP if you focus on regular market hours and want cleaner session structure.
- Use Weekly or Monthly VWAP if you want to trade with the larger directional bias in mind.
From there, watch how price behaves around the VWAP bands:
- Above VWAP often suggests bullish control or strength.
- Below VWAP often suggests bearish control or weakness.
- Inside the value area usually suggests balance or rotational conditions.
- Touches and rejections at the bands can help identify fade or continuation opportunities.
Setup Signals
The indicator includes four main setup types, each with separate long and short signals:
- S1: Price Discovery Continuation.
- S2: Fade Value Area Extremes.
- S3: Return to Value.
- S4: VWAP Bounce.
These setups are designed to cover different market conditions. For example, S1 is useful when price accepts beyond a band and continues in that direction, while S2 looks for rejection after trading into an extreme. S3 is more of a return-to-balance setup, and S4 looks for a reaction off VWAP inside the value area.
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Initial Balance Tools
The Initial Balance section is useful for understanding the first part of the session and how price may react around that opening range. It can plot:
- IB High.
- IB Low.
- IB Midpoint.
- IB 25/75 levels.
- IB projections beyond the range.
- Break/retest markers when price interacts with those levels.
This is especially useful for traders who pay attention to opening range behavior, breakout continuation, or failed breakouts. The projections can help estimate common expansion targets based on the size of the initial balance range.
Candle Coloring And Dashboard
The candle coloring feature changes candle color based on how far price is from the intraday VWAP, helping you quickly see whether momentum is strong, moderate, or fading. That makes it easier to read whether the market is stretched or still comfortably within normal movement.
The dashboard provides a quick summary of:
- Intraday bias.
- RTH bias.
- Weekly bias.
- Monthly bias.
- Current setup state.
- Setup VWAP and band levels.
- Bars outside or inside the accepted range.
Practical Workflow
A clean way to use the script is:
- Turn on the VWAPs relevant to your trading horizon.
- Use the dashboard to confirm current bias and session context.
- Watch for price acceptance above or below the active VWAP bands.
- Use the setup labels and alerts to catch S1-S4 opportunities.
- Use Initial Balance and projections to plan targets and invalidation levels.
For example, if price opens strong, holds above the intraday VWAP, and accepts above the upper deviation band, that can support a continuation-style read. If price pushes into a band and immediately rejects back into value, that may be a cleaner fade or return-to-value opportunity.
Best For
This indicator is best for traders who want a structured way to trade around VWAP rather than using VWAP as a simple line on the chart. It works well for:
- Intraday scalpers.
- Session traders.
- VWAP mean reversion traders.
- Breakout and continuation traders.
- Traders who use Initial Balance and market profile-style context.
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オープンソーススクリプト
TradingViewの精神に則り、このスクリプトの作者はコードをオープンソースとして公開してくれました。トレーダーが内容を確認・検証できるようにという配慮です。作者に拍手を送りましょう！無料で利用できますが、コードの再公開はハウスルールに従う必要があります。
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。