GEX VWAP

GEX VWAP draws the centre of gravity of dealer positioning directly on the price chart. Every minute, Atlas takes the option board behind the heatmap and computes the exposure-weighted average strike — each strike weighted by the size of its exposure. The result is a line that tracks where the board’s weight sits, updated minute by minute through the session. Despite the name, this is not a volume VWAP. No traded share volume is involved: the weights are exposure magnitudes from the same data that powers Heatseeker and the Orbs. Price VWAP answers “where has volume traded” — GEX VWAP answers “where is the positioning centred.”

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Adding the indicator

Open the chart settings panel and use the Add button in the Indicators section. GEX VWAP appears in the list alongside the moving averages and the other Skylit studies. Each instance gets its own settings cog and can be removed the same way.

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The lines

The upper and lower lines split the board at the centre line itself, not at the current price — so together they show where the weight sits on each side of the board’s own midpoint. A minute where no board data exists renders as a gap rather than a stale value.

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Settings

On SPXW, an additional Trinity combine option folds SPY and QQQ exposure into a unified SPX-priced board. It is SPXW-only because the combined board is priced in SPX terms.

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Reading notes

• The lines are computed fresh each minute from that minute’s board — they are not smoothed and carry no memory, so a sudden repositioning of the board moves them immediately.
• The centre is not a price target or a signal. It marks where positioning is centred so you can see, at a glance, whether the weight sits above or below the market and how that gap evolves through the session.
• The Opening-window envelope needs at least 8 minutes of board data inside its window; a session that opens without enough data draws no envelope rather than a misleading one.