The XBP VWAP (Volume Weighted Average Price) indicator plots the main VWAP level, calculated since the beginning of the natural day, and 6 standard deviation levels, 3 upper and 3 lower. These levels often act as support/resistance levels.
The indicator resets itself automatically everyday at midnight.
TradeStation has a good explanation about the uses of VWAP here: http://www.tradestation.com/education/labs/analysis-concepts/using-volume-weighted-average-price
The Standard Deviation levels act as dynamic intraday support and resistance levels. These levels are easier to predict and understand than Fibonacci levels, as they are not dependent on any price points but they automatically adjust as the day day advances.
You can use these levels as attraction and repulsion levels. For example, if price crosses above the VWAP level, you can expect the price to reach the first standard deviation level. Same when the price finds resistance crossing a standard deviation level, you can expect the price to retrace to the level immediately below it, at least.