An advanced intraday trading indicator that combines Anchored VWAP with Expanding Volume Range to identify key price levels, volume patterns, and potential trading opportunities.
Explore complementary indicator rolesHow it works
The indicator tracks the highest volume bars and creates an Expanding Volume Range (EVR) based on the last three high-volume bars. It calculates and draws support and resistance levels using customizable multipliers, which can be simple or exponentially adjusted.
An Anchored VWAP is calculated and displayed, resetting at the start of each day or when a new highest volume bar is detected. The system colors candles based on volume and session characteristics, providing visual cues about market dynamics and potential price movements.
Why it may be useful
By integrating volume analysis with price action, this indicator helps traders understand market momentum and potential turning points more comprehensively. It provides multiple layers of insight, including volume significance, support and resistance levels, and price positioning relative to the VWAP.
The customizable nature of the indicator allows traders to adapt it to different market conditions and personal trading styles, making it a versatile tool for identifying potential entry and exit points with enhanced context.
When to explore it
This indicator is most effective for intraday trading, particularly on timeframes of 60 minutes or less where volume patterns and short-term price dynamics are critical. It works best in markets with consistent volume and clear intraday trends, such as major stock indices, forex pairs, and liquid commodities.
Traders should use this tool in conjunction with other technical analysis methods and risk management strategies to confirm signals and validate potential trading opportunities.
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What we’ve verified
Access, alerts and repainting behaviour have not been independently verified for this indicator. Check the creator’s current publication and settings.
General descriptions and classifications are recovered research. Verified details above identify the specific checks we have completed. Check the creator’s current publication for later changes.
