Anchored VWAP with Alert MT5
- Indicators
- Version: 1.5
- Updated: 12 November 2023
- Activations: 10
What is the Volume Weighted Average Price (VWAP)?
The volume weighted average price (VWAP) is a trading benchmark used by traders that gives the average price an instrument has traded at throughout the day, based on both volume and price.
It is important because it provides traders with insight into both the trend and value of the instrument.
What is the Difference between VWAP and AVWAP?
While VWAP is having as starting point the beggining of the day,week,month etc. in the AVWAP you can place it anywhere you like in your chart.
Description of indicator
This indicator provides 6 AVWAP lines. Once loaded into the chart a Label will appear on your screen "No Vertical Lines".
By clicking on the label "No Vertical Lines" the indicator creates 6 dashed vertical lines at the beginning of your chart separated by three bars each and draw the VWAP lines named v1,v2,v3, v4, v5, v6 in six different colors. By moving a vertical line the VWAP line with get automatically updated. By clicking "Delete" all lines will be deleted. By clicking "v1" will delete v1 line only, etc. You can also create the vertical lines one by one by key pressing on the top of your keyboards numbers 1,2,3,4,5 or 6. Press number 1 will create "v1", number 2 will create "v2", etc.. (vertical lines will not be created if they already exist on your chart).
Furthermore, the indicator provides four types of Alerts every time a AVWAP line is crossed.
Every time you click the label the indicator create the 6 vertical lines and/or repositions them at the beginning of the chart if they already exist.
What If:
- You do not need 6 VWAP lines: just delete the vertical lines you do not need by clicking on v1 to v6 text
- You erase by accident a vertical line: just create it manually by pressing the top keyboard keys from 1-6
- You would like to hide AVWAP lines just click on the "Hide AWVAP" text and to display them again just click on the "Show" text
Parameters
Price Close1-6: 0 Close, 1 Median. You can decide is VWAP will be calculated using price close or price median (High+Low)/2.
Show_HL1-6 : true/false Display or not the High and Low of each AVWAP line which acts a standard deviation
AVWAP Lines Name and Format
- Format each AVWAP lines and their Highs and Lows name,color, style and width
Vertical and Format
- You can format Vertical lines color, style and width
Volume type: if true the indicator uses Tick Volume, if false the indicator uses Real Volume (if available from your broker)
Alerts on AVWAP cross
- Set Alert on AWAP cross up or down on each AVWAP lines and their Highs and Lows.
Alert Type
- TriggerCandle = 1: The candle number that the alert will be triggered (0 is the forming candle, 1 is the one before the forming-closed)
- EnableNativeAlerts = true/false : Pop-up
- EnableSoundAlerts = true/false: Sound
- EnableEmailAlerts = false: Email
- EnablePushAlerts =true: Push Notification
- SoundFileName = "alert.wav": Sound File
Placement and Format of AVWAP Label
- Corner=1 : Corner of window indicator name will be displayed
- Top_Offset = 150; // Top Offset Display
- Right_Offset = 20;// Right Offset Display
- Text_Font_Size = 8;// Font Size Display
- Text_Color = Black;//Txt Color Display
Enjoy!
The indicator is great. Thank you for sharing.