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VWAP

The VWAP MT5 indicator displays the average price an asset has traded. This indicator is especially useful for day traders who want to take advantage of short-term price fluctuations.

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Description

The volume-weighted average Price (VWAP) is a custom moving average indicator that displays the average price an asset has traded over a trading period. Unlike the traditional moving averages, VWAP incorporates an asset’s traded volume into its calculation, enabling traders to assess the average price a financial asset has traded over a given period.

The indicator displays the VWAP for daily, weekly, and monthly analysis, considering the weighted volume traded at each specified date. Thus, displaying the average price at which an asset has traded throughout the day, week, and month makes it a valuable technical indicator for identifying intraday and swing trading opportunities.

Features of the VWAP MT5 Indicator

The indicator offers traders a real-time update of the average traded volume at various price levels, presented through three distinct lines representing daily, weekly, and monthly periods. The red line represents the daily VWAP, while the blue and green show the weekly and monthly VWAP.

Benefits of Using the Indicator

  • Trend Identification: The VWAP indicator offers traders insight into the average price weighted by volume, aiding in trend identification. For instance, a bullish market is when the price crosses above the VWAP, while a bearish trend is signaled when the market crosses below it.
  • Dynamic Support and Resistance: The lines of the VWAP indicator act as potential support and resistance zones, assisting traders in identifying potential price reversal trading opportunities.

Indicator Settings Description

The indicator comes with the following customizable settings:

Price_Type: Determines the price type VWAP calculation.

Enable_Daily: Enables/Disables VWAP calculation for daily periods.

Enable_Weekly: Enables/Disables VWAP calculation for weekly periods.

Enable_Monthly: Enables/Disables VWAP calculation for monthly periods.

Enable_Level_01: Enables/Disables the display of VWAP level 01:

Enable_Level_01_period: Defines the period for VWAP level 01.

Enable_Level_02: Enables/Disables the display of VWAP level 02.

VWAP_Level_02_period: Defines the period for VWAP level 02.

Enable_Level_3: Enables/Disables the display of VWAP level 03.

VWAP_Level_03_period: Defines the period for VWAP level 03.

Enable_Level_04: Enables/Disables the display of VWAP level 04.

VWAP_Level_04_period: Defines the period for VWAP level 05.

Enable_Level_05: Enables/Disables the display of VWAP level 05.

VWAP_Level_05_period: Defines the period for VWAP level 05.

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How to Install

How install MT4/5 indicator in the terminal?

To install an MT4/5 indicator in the terminal, follow these steps:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.

Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.

And if asks to confirm DLL?

If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.

DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.

If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.

It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.

 

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