Here’s a pro-tier color and session setup for VWAP and its bands tailored for ESM5 500T scalping, balancing visibility and strategy:
1. VWAP Color Scheme (For Maximum Visibility) Element Recommended Color Why? Main VWAP Line Bright Yellow (#FFFF00) High contrast against candlesticks. +1 Std Dev Band Dodger Blue (#1E90FF) Cool color = resistance. -1 Std Dev Band Firebrick Red (#B22222) Warm color = support. +2 Std Dev Band Light Blue (#ADD8E6) Faint = less important. -2 Std Dev Band Salmon (#FA8072) Faint = less important. 📌 Pro Tip:
Avoid red/green (conflicts with candlesticks).
Use bold lines (2-3px) for main VWAP, thin (1px) for bands.
2. Session Hours (For ESM5 Scalping) Start Time: 8:30 AM CT (9:30 AM ET)
Matches NYSE open (most liquidity).
End Time: 3:00 PM CT (4:00 PM ET)
Covers regular trading hours (RTH).
🔹 For 24-Hour Scalpers (Globex):
Use Anchored VWAP resetting at 5:00 PM CT (6:00 PM ET).
3. Rolling Periods (Tick vs. Time) Chart Type Rolling Period Use Case 500T None (Session-based) Best for RTH scalping. 1M/5M Rolling 24 Hours Tracks overnight levels. 15S Session Only Avoids noise from off-hours. 📌 Key:
Session-based VWAP = Cleaner for day scalping.
Rolling VWAP = Better if trading overnight.
4. Standard Deviation Bands (For Scalping) Bands to Show: ±1 Std Dev (most important for reversions).
Calculation Period: 14 (standard for mean-reversion).
Line Style: Dashed (to distinguish from main VWAP).
📌 How to Use Bands:
Long Scalp: Price dips to -1 Std Dev + RSI oversold.
Short Scalp: Price rallies to +1 Std Dev + RSI overbought.
5. Pro Tips for Tradovate/NinjaScript Hotkey to Toggle Bands: Assign a hotkey to hide/show bands during choppy markets.
Save as Template: Save your VWAP setup as “Scalp_VWAP_500T” for quick loading.
Troubleshooting Colors in Tradovate Right-click VWAP → “Settings” → “Appearance”.
Use HEX codes (e.g., #FFFF00) for exact colors.
Reset Globex VWAP: Manually anchor at 5:00 PM CT if trading overnight.
Example: ESM5 500T Scalping with VWAP VWAP Scalping Setup (Yellow VWAP, blue/red bands, 9 EMA = cyan, RSI = purple)
Final Checklist ✅ Colors: High-contrast, non-candlestick colors. ✅ Session: 8:30 AM - 3:00 PM CT (RTH). ✅ Bands: ±1 Std Dev (dashed), ±2 hidden unless needed. ✅ Template Saved: For instant reloading.
Let me know if you want a specific NinjaScript VWAP code or a screenshot of your exact settings! 🚀