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VWAP Indicator by PipTick MT4

4.5

The VWAP indicator is our version of the popular Volume-Weighted Average Price indicator. The VWAP is the ratio between the value traded (price multiplied by the number of volume traded) and the total volume traded over a specific time period. As a result, it measures the average price of the instrument much better than the simple moving average. Although there are many ways to use the VWAP, most investors use it to calculate the daily average. 


The indicator works in five modes:

  • Moving - In this mode, the WVAP works as Moving Average with the specified period.
  • Daily - In this mode, the VWAP is calculated from the start to the end of the day.
  • Weekly - In this mode, the VWAP is calculated from the beginning to the end of the week.
  • Monthly - In this mode, the VWAP is calculated from the start to the end of the month.
  • Session Time - In this mode, the user can set the beginning and end hours for the VWAP calculation.


How to use the VWAP indicator

Many traders use VWAP bands in the same way as Bollinger Bands. You can look for reverse trades on the second and third standard deviations from the VWAP. Combined with price action or candle patterns, you can achieve excellent results. Of course, the VWAP indicator can also be used for benchmarking, as many investors are doing.


Main features

  • Several optional modes.
  • Real and tick volume calculation (MT5).
  • First, second and third standard deviation from the VWAP.
  • A very fast and reliable indicator.
  • Customizable parameters (Colors, Line thickness, VWAP period...).
  • Can be used for creating EA (Expert Advisor).
  • Available for MT4 and MT5.


Please visit the VWAP indicator product page for the input and output parameters settings.

    Reviews 3
    ruskinxx
    45
    ruskinxx 2020.04.06 21:27 
     

    After the last update the indicator works great...very smooth and fast.

    OSCAR GUTIERREZ JIMENEZ
    360
    OSCAR GUTIERREZ JIMENEZ 2019.12.01 03:19 
     

    This project seems to be stoped. It hasn't been updated since 2016 and the developer doesn't answer questions since 2018.

    The indicator consumes a large amount of CPU if the [Max bars in chart] in the Options menu has a large value. I've proposed a simple solution, but it doesn't respond, so I can't use it and I've had to uninstall it.

    -- Update 2020.04.07: With the latest release, performance has improved. Now you can select the number of sessions, so regardless of the number of candles you have loaded in the history [Max bars in chart], the CPU consumption is minimal. Thanks to Michael Jurnik for this update. Regards.

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    Marius Adrian Stanescu
    1353
    Marius Adrian Stanescu 2020.05.01 07:57 
     

    User didn't leave any comment to the rating

    ruskinxx
    45
    ruskinxx 2020.04.06 21:27 
     

    After the last update the indicator works great...very smooth and fast.

    OSCAR GUTIERREZ JIMENEZ
    360
    OSCAR GUTIERREZ JIMENEZ 2019.12.01 03:19 
     

    This project seems to be stoped. It hasn't been updated since 2016 and the developer doesn't answer questions since 2018.

    The indicator consumes a large amount of CPU if the [Max bars in chart] in the Options menu has a large value. I've proposed a simple solution, but it doesn't respond, so I can't use it and I've had to uninstall it.

    -- Update 2020.04.07: With the latest release, performance has improved. Now you can select the number of sessions, so regardless of the number of candles you have loaded in the history [Max bars in chart], the CPU consumption is minimal. Thanks to Michael Jurnik for this update. Regards.

    Reply to review
    Version 1.6 2021.12.01
    Updated for a new version of MT4
    Version 1.5 2020.08.27
    Colour section has been move to native colour tab (indicator settings).

    To customize VWAP line style you have to change the line thickness to 1 (native behaviour).
    Version 1.4 2020.04.03
    Parameter Sessions_Ago added for improving indicator performance
    Version 1.3 2016.05.12
    Calculation accuracy has been improved
    Version 1.2 2015.07.14
    Added new parameters that provide user the ability to change the visibility of lines.