What it does
VWAP Deviation plots bands around the session VWAP at multiples of the standard deviation of price from VWAP, computed cumulatively through the session. Typical displays show bands at 1, 2 and sometimes 3 deviations above and below the volume weighted average price. The bands quantify how stretched price is from the session's true average cost, in units of that session's own volatility.
How to add it
Click Indicators (ƒx) in the header.
Search “VWAP Deviation” and click the result.
Hover its legend row and click the gear to open settings.
How traders use it
- Fade extremes on range days: touches of the 2nd deviation band with fading momentum are mean-reversion entries targeting VWAP.
- Read trend strength: price holding between the 1st and 2nd upper bands all session indicates a strong trend day where fading is dangerous.
- Use the 1st band as the pullback zone in a trending session, entering with the trend as price bounces between the band and VWAP.
- Combine with volume and delta at the bands: absorption at a lower band strengthens the reversion case.
Inputs
This indicator has no configurable inputs — it works out of the box.
Plots & styling
| Plot | Style | Default color |
|---|---|---|
| VWAP | line | #ff9800 |
| Upper 1σ | line | #05B878 |
| Lower 1σ | line | #05B878 |
| Upper 2σ | line | #9c27b0 |
| Lower 2σ | line | #9c27b0 |
Every plot's color, line width and visibility can be changed on the Style tab. Precision (default 4 decimals), price-scale labels and status-line values are configurable at the bottom of the Style tab.
Tips
- Hide the study from the legend eye instead of removing it when you only want it out of the way temporarily.
- Merge multiple oscillators into one pane from the legend ⋯ menu to compare them on a shared axis.
- Double-click the plot to open settings directly, skipping the legend hover.
Watch out for
- The same band touch is a fade signal on balance days and a continuation signal on trend days, so it requires day-type judgment first.
- Bands are unstable early in the session when little volume has accumulated, and the tool resets every session.