Evwap
- Experts
-
Enrique Valeros Muriana
EV Trading Labs is an independent quantitative trading lab with over 6 years of experience in the development of professional trading tools, indicators, and automated systems for MetaTrader 5. - Version: 1.6
Mean-reversion EA that trades the daily anchored VWAP with adaptive standard-deviation bands. Buy when price drops below VWAP, sell when price rises above it, target reversion to VWAP.
Why EVWAP
- Daily anchored VWAP. Recomputed every session from M1 data — the institutional benchmark traders actually use, not a fixed moving average.
- Adaptive sigma bands. Entry, stop, and take-profit are scaled to recent volatility. The EA widens its tolerance when the market ranges and tightens it when volatility compresses.
- Two-stage exit. Closes 50% at the first target and moves the stop to breakeven. The remainder trails on ATR until the final target at VWAP (or beyond, configurable).
- Honest risk model. Lot size is computed from the actual stop distance in points and your risk percentage. No fixed-lot surprises.
- Built-in safety filters. Session hours, spread filter, warmup skip, max trades per day, cooldown between trades.
- Input validation on load. Bad parameter combinations are rejected with a clear error message before the EA ever places an order.
- Live on-chart dashboard. Shows VWAP, current sigma, entry bands, ATR, spread, and trade count directly on the chart.
How the entry logic works
- At each new M1 bar the EA recomputes VWAP from the daily anchor (default 00:00 server time) and the standard deviation of the last N typical prices.
- A long entry fires when Ask < VWAP - EntryMultiplier × sigma .
- A short entry fires when Bid > VWAP + EntryMultiplier × sigma .
- The stop sits at VWAP ∓ StopMultiplier × sigma — always further out than the entry, so the trade has room to revert.
- When price crosses back through VWAP ∓ TP1Multiplier × sigma , the EA closes 50% and moves the stop to breakeven.
- The remaining position trails on ATR(TrailingATRPeriod) × TrailingATRMult , or closes at VWAP (configurable to close beyond VWAP as well).
Recommended symbols and timeframes
| Symbol | Timeframe | Anchor | Notes |
|---|---|---|---|
| EURUSD, GBPUSD, USDJPY | M15 / H1 | 00:00 | Tight bands, very clean reversion profile |
| XAUUSD | M15 / H1 | 01:00 (London) | Higher sigma multipliers recommended |
| NAS100, US30 | M5 / M15 | 14:30 NY | Index session opens shift the anchor |
| BTCUSD | M15 | 00:00 | Watch spread during low-liquidity hours |
Input parameters
Every input has a tooltip inside MetaTrader. Quick overview:
- Strategy Settings: Entry threshold (sigma), Stop-Loss distance (sigma), Take-Profit 1 (sigma, closes 50%), Take-Profit 2 (sigma, 0 = close at VWAP).
- Daily VWAP Settings: Daily reset hour/minute, sigma sample size, minimum bars required before the first trade.
- Session Filter: Enable/disable, trading start hour, trading end hour, warmup minutes after reset.
- Risk Management: Risk per trade (% of balance), maximum lot size, maximum spread, maximum trades per day.
- Trade Management: Trailing stop toggle, ATR period and multiplier, minimum bars between trades.
- Dashboard: Show/hide the on-chart dashboard, dashboard text color.
- Identification: Magic number (use a unique ID per chart or symbol to keep trade journals clean).
Backtest tips
- Use Every tick based on real ticks when available for the most accurate results.
- Use Open prices only for a fast first-pass sanity check.
- Spread matters — backtest on the same account type you will run live (ECN vs Standard).
- Run at least 12 months of data covering both ranging and trending regimes.
- Optimize EntryMultiplier , StopMultiplier , and the session window per symbol. Most pairs default well out of the box.
Requirements
- MetaTrader 5 build 3800 or higher.
- M1 historical data for at least 60 days on the symbols you trade.
- Both hedging and netting accounts are supported.
- Recommended minimum account balance: 500 units of the base currency for sensible lot sizes with the default 0.5% risk.
What is in the package
- EVWAP.ex5 — compiled Expert Advisor, ready to attach to any chart.
- Live dashboard renders VWAP, sigma, entry bands, ATR, and trade state on the chart.
- Free updates within the v1.x line.
Support
Questions, parameter recommendations for a specific symbol, or strategy feedback? Reach out through MQL5 messages. We respond within one business day. Setup notes, parameter guides, and release notes are also included with each update.
Disclaimer
This Expert Advisor is a trading tool, not financial advice. Past performance, including in the Strategy Tester, does not guarantee future results. Test on a demo account before going live. The author is not responsible for losses incurred through the use of this EA.
