ZenAlgo - Levels 🆓

The ZenAlgo - Levels indicator is a powerful, all-in-one tool for traders who want to visualize not just the current VWAP (Volume Weighted Average Price), but also a continuous record of historical anchored VWAP levels. It automates the management, display, and “test” detection of multiple VWAPs, allowing you to spot meaningful support/resistance and price reactions at a glance.

What Does the Indicator Show?

• Primary (current) VWAP line — Follows price from the latest anchor period (Session, Week, Month, etc.).
• Historical anchored VWAP lines — Dotted lines marking the final VWAP for every previous anchor period.
• VWAP test highlights — If price crosses a historical VWAP, that line and its label turn red, and a test count is shown.
• Floating VWAP labels — Show the value (and, if tested, the test count) near each VWAP line.
• Clutter management — Oldest or distant VWAPs are auto-hidden to keep the chart clean.

Visual Guide: Symbols, Colors, Labels

1. Primary VWAP Line

• Color: Faint gray (semi-transparent).
• Style: Solid.
• What it means: The real-time VWAP for the currently active anchor period (e.g., the current week or session).
• Interpretation: Shows the fair price as calculated from all volume since the last anchor reset.

2. Historical Anchored VWAP Lines

• Color: Dotted, faint gray by default.
• Style: Dotted horizontal lines.
• How they appear: Each time a new anchor period starts (session, week, etc.), the previous VWAP is “locked” and shown as a new dotted line.
• Purpose: Reveals where prior volume-weighted consensus existed, letting you spot legacy support/resistance zones.

3. VWAP Test (Retest) Highlight

• Color: Red (line and label).
• When triggered: If any price bar's high and low span (cross) a historical VWAP line, that line and label turn red.
  • The label adds a test count in parentheses, e.g. 89.5k (3x) if it's been tested 3 times.
• What it signals: Price has reacted to this level, confirming its relevance. The more tests, the more significant.

Tip

VWAP retests can be strong evidence of support/resistance. The more times a historical VWAP is tested, the more likely it is to act as a magnet or pivot for future price action.

4. VWAP Labels

• Default: Show the price value in a compact format (e.g., 89.5k for 89,500).
• If tested: Add number of times tested, e.g., 85.1k (1x).
• Placement: Float to the right of the current price action, but follow their VWAP line.

5. Auto-Hiding Old VWAPs

• The indicator limits how many VWAPs are shown, based on recency (distance from the current bar) and total number (to prevent clutter).
• If many lines have been tested, only the newest N tested lines (red) remain visible (you set Max number of displayed red labels).
• If a VWAP is too old (per your settings), it is hidden automatically.

How to Interpret the Chart (with Example)

On the sample chart:

• Gray solid line: The currently-active VWAP.
• Gray dotted lines: VWAPs from previous anchor periods (e.g., last week/session/month).
• Red line/label: A historical VWAP that has been tested (“touched”) by price—note the (xN) count in the label.
• Floating labels: Always show the value; when tested, the test count is appended.

You can instantly see:

• Where legacy VWAP levels act as magnets or reversal points.
• Which VWAP levels are currently relevant (still visible).
• Where price has most recently interacted with historical fair-value zones.

Settings & Customization

• Anchor Period:
  Choose how often to “reset” and record VWAPs:
  Session, Week, Month, Quarter, Year, Decade, Century.

• Hide VWAP on Day timeframe and above:
  Toggle the real-time VWAP for daily/weekly/monthly charts (for less clutter).

• Offset:
  Shift the current VWAP line by N bars for a custom perspective.

• Max Number of Displayed Red Labels:
  Controls how many “tested” (red) VWAPs you'll see at once.

• Max VWAP Array Size / Max Distance:
  Fine-tune how many past VWAP lines and how far back they remain visible.

Pro Tips & Best Practices

Tip

Use higher anchor periods (Month/Quarter/Year) to highlight major “fair value” zones for swing trading. For scalping or day trading, use Session or Week for more responsive context.

Tip

Clusters of multiple historical VWAPs at similar price levels often mark high-importance zones—these can act as strong support/resistance or areas of “congestion.”

warning

If you're trading assets with unreliable or illiquid volume data, VWAP signals may be skewed! Always check your data source—abnormal spikes can create “false” test signals.

FAQ

Q: What does it mean when several VWAPs (dotted lines) stack at the same price?

A: That's a strong sign of a high-volume fair-value zone! Price repeatedly returns to such areas—think of them as “gravity wells” for price action.

Q: What should I do if all the lines disappear?

A: You may have set the Max VWAP Array Size or Max Distance too low. Increase these settings in the indicator panel.

Q: Are the red lines buy/sell signals?

A: No, the indicator is for context—not signals. Retests highlight important price levels, but always combine with your broader market strategy.

How This Is Different From Standard VWAP

• No more manual re-anchoring or juggling multiple indicators.
• You see BOTH current and all relevant historical VWAPs at once.
• Automatic visual and count of retests (something standard VWAP never tracks).
• Unified settings for all periods—set once, monitor everything.

Limitations & Warnings

• VWAP needs reliable volume data.
  If your market is illiquid or your data feed is incomplete, VWAP levels can become misleading.
• Not a trading signal—this is a context/visualization tool. Always use with other analysis methods.
• May clutter on assets with very frequent anchor resets (reduce max array size if needed).

Summary

ZenAlgo - Levels is designed to save you time, remove repetitive manual chart work, and give you deeper insight into price/volume relationships across any timeframe. By automating both the anchoring and retest detection of multiple VWAPs, you get a “layered map” of fair value—past and present.

Use it to quickly identify potential support, resistance, and zones where history may repeat itself!

Quick Reference Table

Visual	Meaning	Color	Label Format
Solid line	Current VWAP	Gray	(hidden)
Dotted line	Historical VWAP	Gray	Value (e.g. 97.05k)
Red dotted line/label	Tested historical VWAP (retest)	Red	Value (xN) (e.g. 89.5k (3x))

Get for free

This indicator is free and open-source. Get it here: ZenAlgo - Levels.