Personnal VWAP V2
- Indicators
- Vincent Jose Proenca
- Version: 3.6
- Updated: 12 October 2025
- Activations: 5
PVWAP Improved MT5 – Advanced Volume Weighted Average Price Indicator
PVWAP Improved MT5 is an enhanced and optimized version of my personal VWAP indicator. It displays the volume-weighted average price together with several standard deviation bands that help identify potential support, resistance, and market exhaustion zones. The indicator works on all timeframes and remains lightweight even on large historical datasets.
Purpose of the Indicator
VWAP represents the average price where most of the trading volume occurred. It is a central reference to understand the market’s position relative to its fair value.
Main uses:
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Price above VWAP: bullish bias
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Price below VWAP: bearish bias
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Standard deviation bands (+1, +2, -1, -2) show overbought and oversold zones
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Helps identify potential entry, exit, or bounce areas
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Useful for detecting whether the price is in trend mode or mean-reversion mode
This indicator is especially helpful for intraday traders, scalpers, and swing traders who want to analyze real market pressure.
Main Features
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Calculation based on real volume provided by MetaTrader 5
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Daily mode with automatic reset for intraday trading
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Continuous mode for nonstop VWAP calculation
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Up to 4 standard deviation bands: +1, +2, -1, -2
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Fully customizable colors, line styles, and widths
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Works with all symbols and timeframes
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Fast calculation, suitable for backtesting and real-time analysis
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Stable, clear, and easy to integrate into any trading strategy
