What it visualizes
VWAP, ±1σ, ±2σ and optional ±3σ bands, fills, sigma/price/percentage distance, Side, Session bars, Volume mode and six band-event markers.
FreeOpen sourcePine Script v6
Reset VWAP and volume-weighted dispersion each exchange day. Plot one-, two- and optional three-sigma bands and report sigma, price and percentage distance with the active volume mode.
VWAP / Average Price
PurposeMeasure distance from the daily mean
Best forIntraday VWAP-location research
Primary outputVWAP, deviation bands, table and events
Chart placementIntraday price-chart overlay
01 — Overview
Read distance from the mean as both bands and numbers
The script accumulates price times volume inside each exchange day for VWAP and uses the same weights for variance and standard deviation. If volume is missing or non-positive, an enabled fallback gives each bar equal weight and labels the mode.
How it works
Accumulators reset on each exchange day. The state remains Warming up until the minimum bars are present, then fixed absolute-sigma boundaries classify Near VWAP through Outer tail.
Weighted mean and dispersion
VWAP and deviation use the same volume weights for a consistent daily-distance scale.
Equal-weight fallback
When usable volume is absent, the optional fallback weights each bar by one and explicitly labels Equal-weight fallback.
Fixed state boundaries
The 0.5σ, 1σ, 2σ and 3σ state boundaries are independent of user-selected display-band multipliers.
02 — Install and start
Add it to TradingView
Add the public script to a chart and identify every drawing in the default configuration first. Change only one input at a time.
Daily VWAP Deviation Map
Open the public Daily VWAP Deviation Map page and add it to a TradingView chart. No SG Group account is required.
- Open the “Use on TradingView” link below.
- Select “Use on chart” on TradingView to add the script to your chart.
- Open the gear icon, then Settings → Inputs, and observe the default configuration first.
- Change one input at a time for the symbol and timeframe you are studying.
Prevent misreads when indicators overlap
Overlapping lines, bands, backgrounds or tables can be duplicate drawings of the same kind of information. Never treat visual overlap by itself as stronger evidence or signal agreement. A standard VWAP, anchored VWAP or Bollinger/Keltner envelope can place another basis and several bands at the same prices. Identify the orange VWAP and each sigma family before reading the map.
- Enable Show +/-1 sigma, Show +/-2 sigma and Show +/-3 sigma one tier at a time.
- Do not combine Show band fills or Tint candles by deviation zone with another fill or candle-color study until sources are clear.
- Hide Show dashboard table or change Table position so another dashboard remains readable.
- A VWAP or band overlap with another study is not independent support/resistance confluence.
03 — How to read it
A practical reading order
Do not turn one value or color into a conclusion. Check the condition, persistence and relationship to price in order.
Check Volume mode first
Volume-weighted, Equal-weight fallback and No usable volume have different data assumptions.
Read Side and distance
Combine Above/Below VWAP with sigma and percentage distance; do not act on a band touch alone.
Check Session bars
Early-session values are sensitive. Respect Warming up and the minimum bar count.
Status and display terms
Warming up
The minimum bars required for classification are not yet present.
Near VWAP / Inner range
Absolute sigma distance is below 0.5 / below 1.0 near the daily mean.
One-sigma edge
Absolute sigma distance is from 1 to below 2, independent of the display multiplier.
Two-sigma extension / Outer tail
Absolute sigma distance is 2 to below 3 / at least 3; no reversal probability is implied.
Volume-weighted
Usable volume weights both VWAP and dispersion.
Equal-weight fallback
Each bar has equal weight and must be distinguished from volume-weighted output.
04 — Settings reference
Settings reference
The labels below match the published script’s English Inputs panel. Defaults reflect the public source at the time of review and may change in a later TradingView update.
On small screens, each input is reformatted as a readable stacked card.
Calculation
3 inputs| Input label | Default / options | What it controls and when to adjust it |
|---|---|---|
Source | hlc3 | Selects the price source used in the daily weighted mean; the default is hlc3. |
Minimum bars before classification | 10; range: 1-500 | Sets the number of session bars required before sigma-state classification. |
Use equal-weight fallback when volume is missing | true | Uses a weight of one when volume is unusable and discloses the fallback in the dashboard. |
Bands
7 inputs| Input label | Default / options | What it controls and when to adjust it |
|---|---|---|
Show +/-1 sigma | true | Shows the inner standard-deviation bands. |
1 sigma multiplier | 1.0; min: 0.1; step: 0.1 | Sets the sigma multiplier for the inner bands. |
Show +/-2 sigma | true | Shows the outer standard-deviation bands. |
2 sigma multiplier | 2.0; min: 0.1; step: 0.1 | Sets the outer multiplier; its effective value is kept at least 0.1 above the inner tier. |
Show +/-3 sigma (low emphasis) | false | Shows the optional low-emphasis tail bands. |
3 sigma multiplier | 3.0; min: 0.1; step: 0.1 | Sets the tail multiplier; its effective value is kept at least 0.1 above the outer tier. |
Show band fills | true | Shows fills between the deviation bands. |
Events and alerts
2 inputs| Input label | Default / options | What it controls and when to adjust it |
|---|---|---|
Show event markers | true | Shows neutral circle markers for band crossings and returns inside. |
Alert only on bar close | true | Evaluates event markers and alerts only on confirmed bars. |
Display
8 inputs| Input label | Default / options | What it controls and when to adjust it |
|---|---|---|
Show dashboard table | true | Shows the VWAP-deviation dashboard. |
Dashboard layout | Compact; options: Compact | Standard | Detailed | Selects dashboard density; Detailed also shows active band multipliers. |
Table position | Top right padded; options: Top right padded | Top right | Top center | Top left | Middle right | Middle center | Middle left | Bottom right | Bottom center | Bottom left | Selects the table anchor; Top right padded adds spacing from right-side price labels. |
Use padded top-right spacing | true | Enables internal transparent spacing for the padded top-right layout. |
Top spacer height | 2; range: 0-6 | Sets the height of the transparent top spacer. |
Right spacer width | 2; range: 0-8 | Sets the width of the transparent right spacer. |
Table text size | Small; options: Tiny | Small | Normal | Large | Sets dashboard text size. |
Tint candles by deviation zone | false | Optionally tints candles according to the current deviation zone. |
Visual customization
19 inputs| Input label | Default / options | What it controls and when to adjust it |
|---|---|---|
VWAP | #ff6d00; transparency: 0 | Sets the VWAP line color. |
Inner | #26a69a; transparency: 0 | Sets the inner-band color. |
Outer | #2962ff; transparency: 0 | Sets the outer-band color. |
Tail | #9e9e9e; transparency: 0 | Sets the tail-band color. |
Extension tint | #7e57c2; transparency: 0 | Sets the extension-zone and optional candle-tint color. |
Tint transp | 65; range: 0-100 | Controls extension-tint transparency. |
Inner line transp | 15; range: 0-100 | Controls inner-band line transparency. |
Outer line transp | 20; range: 0-100 | Controls outer-band line transparency. |
Tail line transp | 45; range: 0-100 | Controls tail-band line transparency. |
Inner fill transp | 92; range: 0-100 | Controls inner-band fill transparency. |
Outer fill transp | 93; range: 0-100 | Controls outer-band fill transparency. |
Dash header bg | #2a2e39; transparency: 10 | Sets the dashboard header background color. |
Dash cell bg | #2a2e39; transparency: 35 | Sets the regular dashboard-cell background color. |
Dash text | color.white; transparency: 0 | Sets the dashboard text color. |
Dash accent | #ffb74d; transparency: 0 | Sets the dashboard accent color. |
Dash frame | color.gray; transparency: 40 | Sets the dashboard frame color. |
Dash border | color.gray; transparency: 60 | Sets the dashboard cell-border color. |
Marker text | color.white; transparency: 0 | Sets event-marker text color. |
Marker transp | 20; range: 0-100 | Controls event-marker transparency. |
05 — Alerts
Alerts report events, not decisions
Alerts are state, touch or transition events defined in the public source. They are not trade instructions.
- Upper/lower inner-band crossings and upper/lower outer-band crossings.
- Return inside from the upper or lower extension.
- Crossed VWAP is an alert condition only; the current source has no dedicated VWAP-cross marker.
06 — Limitations and responsible use
Not a buy/sell signal
This tool is for analysis and visualization. It is not investment advice, a trade recommendation, a forecast, or a promise of profit or accuracy. Results depend on inputs, symbol, timeframe, and data feed. You remain responsible for every trading decision.
Designed for intraday charts
Daily and higher charts suppress the bands and display an informational notice.
Volume quality matters
FX and CFD feeds may provide tick volume. Equal-weight fallback is not the same as volume-weighted VWAP.
Distance is not a reversal forecast
Outer tail and band crossings report location, not reversal, continuation or profit probability.
Important
Do not confuse display multipliers with fixed state boundaries. Check Volume mode and Session bars, especially early in the exchange day.
07 — FAQ
Frequently asked questions
Clarify volume mode, fallback, fixed state boundaries and the intraday constraint.
Is Daily VWAP Deviation Map free to use?
Yes. It is a free, open-source indicator published by SG Group on TradingView. Review TradingView’s terms and the conditions attached to the public script before reuse or redistribution.
Should I change the settings immediately?
Start with the published defaults and observe the drawings and state changes first. Then change one input at a time for the symbol, timeframe and data feed so you can identify what caused each visual change.
Can I display it with other indicators?
Yes, but similar lines, bands, backgrounds and tables can overlap and obscure their source. Isolate each indicator first and hide duplicate components. Visual overlap alone is not stronger evidence or signal agreement.
Does the display provide trade signals?
No. It is analysis and visualization context consistent with the public description. It does not provide entries, exits, targets, stops, price forecasts, or promises of profit, win rate or accuracy.
Do band multipliers change the State boundaries?
No. The displayed one-, two- and three-sigma multipliers are independent of the fixed sigma-distance boundaries used for State.
Source basis and update policy
This guide is grounded in SG Group’s live catalogue, the script’s published TradingView description, and the user-facing inputs in its open source. Labels and defaults can change after a script update.