Testing VWAP bands indicator on metatrader 5 terminal

Updated: Dec 22, 2019

What is VWAP?


Volume Weighted Average Price


We can think of VWAP as natural liquidity points *support & resistance* for intraday trading.


The aplication is quite simple. If Price is above VWAP, it's bullish. If Price is below VWAP, it's bearish.


If the VWAP is ascending, it's bullish, if VWAP is descending it's bearish.


That's it, it's very simple. It's very much like our pivot point system, but these lines are dynamic (and not static). So they offer nice trading oportunities for intraday price action.


Here's EURUSD on the H4 , with eight contract points... The current VWAP is located at 1.1083


Time of snapshot 17:00 18th Dec 2109


Download link here: https://www.mql5.com/en/code/17247


For the actual indicator settings, these are available for subscribers only.

Update Sunday evening





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