LumenQuant Intraday VWAP Bands
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LumenQuant Intraday VWAP Bands — MQL5 Market Product Description
Short Description
LumenQuant Intraday VWAP Bands is a MetaTrader 5 custom indicator that calculates a broker-day intraday VWAP, weighted deviation bands, and optional closed-bar VWAP cross arrows.
Main Description
LumenQuant Intraday VWAP Bands is a professional MetaTrader 5 custom indicator designed for manual traders who want a clean intraday volume-weighted price reference. It is not based on RSI, ATR, Donchian channels, candle pressure, efficiency flow, MACD, Bollinger Bands, or Stochastic logic.
The indicator calculates VWAP from the start of each broker-server trading day. It uses the typical price of each candle and weights the calculation by tick volume. If tick volume is not available for a bar, a safe fallback weight of 1 is used. This makes the indicator suitable for common MetaTrader 5 symbols such as Forex, indices, metals, commodities, crypto CFDs, and other broker-supported instruments.
In addition to the VWAP line, the indicator can display weighted deviation bands around VWAP. These bands are calculated from the cumulative weighted price variance of the same intraday session. Optional arrows can highlight bullish or bearish crosses of price through the VWAP line. By default, signals are based on closed bars only.
This indicator does not trade automatically. It does not open trades, close trades, manage positions, use martingale, use grid logic, call DLL files, access files, or use WebRequest. It is a visual chart analysis tool for manual decision-making.
Core Logic
Typical Price = (High + Low + Close) / 3
Intraday VWAP = Sum(Typical Price × Tick Volume) / Sum(Tick Volume)
Weighted Deviation = square root of weighted variance around VWAP
Upper Band = VWAP + Band Multiplier × Weighted Deviation
Lower Band = VWAP - Band Multiplier × Weighted Deviation
The calculation resets at the beginning of each broker-server day. It does not use future candles.
Key Features
- Daily-reset intraday VWAP.
- Tick-volume weighted calculation.
- Safe fallback when tick volume is zero.
- Weighted deviation bands.
- Optional VWAP cross arrows.
- Optional band-confirmation mode.
- Optional popup alerts.
- Closed-bar signal mode by default.
- No future data.
- No repainting of closed-bar signals.
- No automatic trading.
- No DLL.
- No WebRequest.
- No file access.
- Professional MT5 indicator structure.
Input Parameters
Band Deviation Multiplier
Default: 1.50
Controls the distance of the upper and lower deviation bands from VWAP.
Show Deviation Bands
Default: true
Shows or hides the weighted deviation bands.
Show VWAP Cross Arrows
Default: true
Shows or hides bullish and bearish VWAP cross arrows.
Require Band Confirmation
Default: false
If enabled, a bullish signal requires price to cross above VWAP and close above the upper band. A bearish signal requires price to cross below VWAP and close below the lower band.
Arrow Offset, Points
Default: 25
Controls the visual distance between arrows and candles.
Use Current Bar For Signals
Default: false
If false, arrows are based on closed candles only. This is the recommended setting for stable chart reading. If true, current-bar arrows may appear and can change before the candle closes.
Enable Popup Alerts
Default: false
Enables or disables popup alerts.
Alert On Current Bar
Default: false
Controls whether alerts are based on the current forming bar or the last closed bar.
How To Use
1. Attach LumenQuant Intraday VWAP Bands to a MetaTrader 5 chart.
2. Start with the default settings.
3. Use the VWAP line as an intraday fair-value reference.
4. Use the upper and lower bands to observe intraday price expansion around VWAP.
5. Green arrows highlight bullish VWAP crosses.
6. Red arrows highlight bearish VWAP crosses.
7. Enable band confirmation if you want stricter breakout-style signals.
8. Confirm all signals with your own market structure, session context, trend, volatility, and risk rules.
Signal Interpretation
Bullish VWAP Cross
A bullish arrow can appear when price closes above VWAP after previously being at or below VWAP.
Bearish VWAP Cross
A bearish arrow can appear when price closes below VWAP after previously being at or above VWAP.
Band Confirmation Mode
When Require Band Confirmation is enabled, signals become stricter. A bullish signal requires a close above the upper band, and a bearish signal requires a close below the lower band.
No-Repaint Explanation
By default, Use Current Bar For Signals is false. Signals are generated on closed candles only. The indicator calculates each bar using only that bar and older bars from the same broker-server day. It does not use future candles to create or improve historical signals.
Important Notes
LumenQuant Intraday VWAP Bands is not a complete trading system and does not guarantee profit. It is a technical analysis tool. VWAP behavior may differ across brokers because tick volume and session timing can vary. Always test the indicator on a demo account and apply your own risk management rules.
Risk Disclaimer
Trading financial markets involves risk. This indicator does not provide financial advice and does not guarantee future results. Use it only as part of a complete trading plan.
Suggested Tags
VWAP, Intraday VWAP, Deviation Bands, Volume Weighted, MT5, MetaTrader 5, Custom Indicator, Manual Trading, Technical Analysis, Price Reference, Session VWAP
