In my best laymen’s terms one of the things I keep in mind is if the price of the security goes too far from the center vwap line, the security may or may not be oversold or overbought. I have read “smart money” or institutions will gauge their buying and selling around the center vwap line. If smart money is looking to buy, they may be doing the bulk of their buying below the center vwap line; therefore buying at a “good price”. As for selling, generally the higher the market price is above the center vwap line, the better the price for smart money to sell. If the underlying is trending aggressively one way or another, the vwap may not come into play at all.

Another important thing to think about is for example if the market price of the security is above the center vwap line and selling off”; the price is falling, you may see aggressive “covering to close” and or buying once the market price reaches the center vwap price. Which naturally may or may not turn the trend around.

as for setting an alert, you may right click where the vwap price is an set an alert. I don’t think the lines “converging” means anything except for the vwap is recalculating.

my disclaimer is I’m consistently losing money and not very well educated.

Good luck stay green