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