[ASFX] Free Automatic VWAPs

Automatic VWAP & Key Levels

Overview

This indicator is designed to help traders evaluate VWAP interactions in context, rather than treating every VWAP touch as a trade opportunity. It combines VWAP with a momentum-based directional filter to highlight situations where price interaction with VWAP is supported by broader intraday momentum. This indicator also shows you the initial balance and opening range each day.

Concept and Originality

VWAP is commonly used as an institutional reference level, but VWAP alone does not distinguish between meaningful acceptance/rejection and random intraday chop. This script addresses that limitation by conditioning VWAP interactions with a momentum filter. Signals are only displayed when price location and momentum alignment occur together, allowing traders to focus on higher-quality VWAP reactions instead of monitoring multiple indicators separately.

How It Works
• VWAP is used as the primary price reference level.
• A momentum filter evaluates directional bias and participation.
• Visual signals appear only when price is interacting with VWAP and momentum confirms acceptance or rejection in the same direction.
• No signals are shown during low-momentum or sideways conditions around VWAP.

How to Use

This indicator is best used as a confirmation tool, not as a standalone trading system. It is intended to assist traders in filtering VWAP-based trade ideas by highlighting when conditions are aligned versus when price is simply chopping around VWAP.

Markets and Timeframes
• Designed for index futures such as ES and NQ
• Optimized for intraday trading
• Works best on lower timeframes (1–5 minute charts)

Limitations
• Not predictive
• Not a complete trading strategy
• Does not replace price action analysis, trade management, or risk control
• Signals should be evaluated alongside market structure and context