NASDAQ VWAP Distance Histogram (Multi-Symbol)

📊 VWAP Distance Histogram (Multi-Symbol)

This custom indicator plots a histogram of price strength relative to the VWAP (Volume-Weighted Average Price).

The zero line is VWAP.

Histogram bars above zero = price trading above VWAP (strength).

Histogram bars below zero = price trading below VWAP (weakness).

Unlike a standard VWAP overlay, this tool lets you monitor multiple symbols at once and aggregates them into a single, easy-to-read histogram.

🔑 Features

Multi-Symbol Support → Track up to 10 different tickers plus the chart symbol.

Aggregation Options → Choose between average or median deviation across enabled symbols.

Percent or Raw Values → Display distance from VWAP as % of price or raw price points.

Smoothing → Apply EMA smoothing to calm intraday noise.

Color-Coded Histogram → Green above VWAP, red below.

Alerts → Trigger when the aggregate crosses above/below VWAP.

Heads-Up Table → Shows number of symbols tracked and current aggregate reading.

⚡ Use Cases

Market Breadth via VWAP → Monitor whether your basket of stocks is trading above or below VWAP.

Index Substitution → Create your own “mini index” by tracking a hand-picked set of tickers.

Intraday Confirmation → Use aggregate VWAP strength/weakness to confirm entries and exits.

Relative Strength Spotting → Switch on/off specific tickers to see who’s holding above VWAP vs. breaking down.

🛠️ Settings

Include Chart Symbol → Toggle to include the current chart’s ticker.

Smoothing → EMA length (set to 0 to disable).

Percent Mode → Show results as % of price vs. raw difference.

Aggregate Mode → Average or median across all active symbols.

Symbol Slots (S1–S10) → Enter tickers to track alongside the chart.

⚠️ Notes

Works best on intraday charts since VWAP is session-based.

Designed for confirmation, not as a standalone entry/exit signal.

Ensure correct symbol format (e.g., NASDAQ:AAPL if needed).

✅ Tip: Combine this with your regular price action strategy. For example, if your setup triggers long and the histogram is well above zero, that’s added confirmation. If it’s below zero, caution — the basket shows weakness.