VWAP Balance Zones - Sessions

VWAP Balance Zones Sessions Version is an alternate take on the Original VWAP Balance Zones indicator. The Sessions version allows users to select a specific session to view the VWAP Balance Zones at while still utilizing the full ETH Data.

The Session version provides a better focused display while still maintaining the core functions of the original script with mindful optimizations.

Author's Note: "VBZ Sessions was made with logistics in mind, for the users who only trade within certain times of the day. While it displays the same core concepts, it is not as "Raw" of a display as the Original. For this reason, some users may prefer the Original VWAP Balance Zones, which is why I have opted to release this alternate version instead of updating the original."

> What are VWAP Balance Zones?

"VWAP Balance Zones" is an original concept aimed at identifying the equilibrium area between market participants within the current trend by averaging the Daily Extremes and the Daily VWAP.

Refer to the illustration below for a better understanding of exactly how VWAP Balance Zones are formed:


These zones are displayed for the Daily, Weekly, and Monthly VWAPs, with the most interactive timeframe being the Daily.

> Features

1. The Session Version uses ETH data at all times, and does not solely rely on the chart's data to create the VWAPs or Zones.

This allows the user to focus on a specific trading session, while not losing out on the full VBZ Calculation, with the notable benefit of a cleaner display.



The Original VBZ starts drawing at the beginning of the chart's "Day", and would produce different results when using an RTH chart vs an ETH chart. Along with creating a bird's nest of unusable data at the beginning of the day.

2. Session Start and End lines are displayed for easier identification of the designated trading session.

3. The extreme "Close" Lines are no longer displayed to reduce noise and redundancy.

4. Additionally, the interior VWAP lines are no longer displayed. Ultimately, this was to reduce noise and focus the script on the 50% zones.

5. Weekly and Monthly Zones are now displayed due to the reduced noise!

6. As with the original, the weekly display will yield to the daily, and the monthly display will yield to the weekly.

In the screenshot below, you can observe this behavior.


Enjoy!