Plots a volume-weighted average price line that restarts at the first bar of each day, using the typical price by default.
Overview
Session VWAP is a short example Pine script that draws one yellow line on the price chart: the volume-weighted average price for the current day. The line starts again at the first bar of every new day.
How it works
On each bar the script adds price times volume to a running sum, and adds volume to a second sum. The line is the first sum divided by the second. Both sums reset to zero when a new day starts.
The price used is the source setting, hlc3 by default (the average of high, low and close).
How to use it
- Some traders use VWAP as a reference for the day's average traded price.
- Use it to see whether price is trading above or below the day's average.
- Some traders watch how price reacts when it returns to VWAP.
- Use it as an example of how Pine scripts reset values each day.
These are ways some traders read it, for learning. They are not trade signals.
Settings
| Setting | Default |
|---|---|
| Source | hlc3 |
Notes and limits
- It needs volume data; without volume the line is not drawn.
- The day boundary follows the chart's daily session.
- It has no standard-deviation bands and no alert conditions.
Education only. Not financial advice. Indicators mark what happened on the chart; they do not predict what price will do. Trading futures, forex, crypto and other markets carries a high level of risk and may not be suitable for everyone.