OPEN-SOURCE SCRIPT

NIFTY VWAP Distance

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NIFTY Futures VWAP Distance Indicator
Track price deviation from Volume-Weighted Average Price in real-time

📈 Key Features:

Measures absolute (points) and percentage distance from VWAP

Daily session reset aligned with NSE trading hours

Dual-axis visualization with clear zero reference line

Real-time data table display for instant analysis

Typical price calculation: (H+L+C)/3 formula

Built-in safeguards against division errors

🎯 Ideal For:

Intraday traders monitoring mean reversion opportunities

Algorithmic traders needing VWAP deviation metrics

Swing traders identifying overextended price moves

Market profile analysts studying auction theory

📊 How to Use:

Apply to NIFTY Futures chart (1m-1h timeframes recommended)

Blue line = Points above/below VWAP

Red line = Percentage deviation

Positive values = Price > VWAP (bullish territory)

Negative values = Price < VWAP (bearish territory)

💡 Pro Tips:

Combine with volume profile for confirmation

Watch for >1% deviations for potential reversals

Use divergence patterns for early trend change signals

Works best with raw futures data (not continuous contracts)

🔧 Technical Specs:

Pine Script v5+

No repainting

Low latency calculations

Mobile-friendly display

"Know when price strays too far from fair value"

Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.