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VWAP Indicator
Find out market volume by comparing three different lines with the New VWAP indicator for MT5.
CATEGORIES: TREND, SIGNAL, MT5
Updated on: 13.12.2023
The Volume Weighted Average Price or VWAP indicator shows the average price of a currency pair based on weighted volume. The VWAP stands for the volume-weighted average price.
The indicator consists of three lines, each representing daily, weekly, and monthly periods. These lines detect the overall market volume and separate it based on its weight.
The VWAP indicator looks similar to Moving Averages or Bollinger Bands. The difference between the VWAP and Moving Averages is VWAP focuses more on the weighted volume.
It calculates the average price at the weighted volume. This detection of weighted volume can help you find support and resistance levels, thus identifying entry and exit points.
The indicator provides the signals when the crossover of weekly and monthly lines happens, hence producing long and short opportunities. Although the indicator works best on every timeframe, it’s best to use it on an hourly chart to not produce false signals.
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