NIFTY VWAP Distance

NIFTY Futures VWAP Distance Indicator
Track price deviation from Volume-Weighted Average Price in real-time

📈 Key Features:

Measures absolute (points) and percentage distance from VWAP

Daily session reset aligned with NSE trading hours

Dual-axis visualization with clear zero reference line

Real-time data table display for instant analysis

Typical price calculation: (H+L+C)/3 formula

Built-in safeguards against division errors

🎯 Ideal For:

Intraday traders monitoring mean reversion opportunities

Algorithmic traders needing VWAP deviation metrics

Swing traders identifying overextended price moves

Market profile analysts studying auction theory

📊 How to Use:

Apply to NIFTY Futures chart (1m-1h timeframes recommended)

Blue line = Points above/below VWAP

Red line = Percentage deviation

Positive values = Price > VWAP (bullish territory)

Negative values = Price < VWAP (bearish territory)

💡 Pro Tips:

Combine with volume profile for confirmation

Watch for >1% deviations for potential reversals

Use divergence patterns for early trend change signals

Works best with raw futures data (not continuous contracts)

🔧 Technical Specs:

Pine Script v5+

No repainting

Low latency calculations

Mobile-friendly display

"Know when price strays too far from fair value"