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Looking for VWAP indicator for MT4 12 replies

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Attachments: VWAP Plus indicator for MT4
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VWAP Plus indicator for MT4

Oct 7, 2018
Last Sync: Oct 7, 2018
Oct 7, 2018
Last Sync: Oct 7, 2018
Oct 7, 2018
Last Sync: Oct 7, 2018
Oct 7, 2018
Last Sync: Oct 7, 2018
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Quoting radatats
this is a great indicator! Only 2 questions. 1. Why does it start at 2200 instead of 2400 (see pic). Is that normal? Still gives great signals for me, just want to be sure its right. 2. Is there any way to let previous days' data stay on the chart? I mean the actual black line and bands. {image}
VWAP is based on the volume per price. I don't see this an issue because between 22:00 and 24:00 the volume is irrelevant. I mean that the percentage of the volume at that period of time is tiny compared to the rest of the day. That's the reason why it looks accurate.
Quoting Pierre1981
Hi everyone. The indicator freeze my mt4. Am I the only one?
yes its freezing my mt4 too
Success is a Journey Not a Destination....... kind regards ramzam
I only get the freezing when i load the indicator on a higher timeframe chart, or when i already have it loaded on an M5 and then change it to a higher timeframe. @masterx584 in the very first comment wrote, "To be used exclusively on M5 timeframe.".
Are you using your broker's tick volume for the VWAP calculation? Are you considering your tick volume as following closely the true aggregated market volumes?
You'll always miss 100% of the shots you don't take.
Quoting Edorenta
Are you using your broker's tick volume for the VWAP calculation? Are you considering your tick volume as following closely the true aggregated market volumes?
Very good question.

I always ask myself what kind of data is being used;
A) real volume (impossible with forex, but possible with indices, stocks, etc., after subscription!)
B) ticks; seems to be mostly used, (brokers ticks)
C) a strange combination from brokers ticks, other ticks you can find (on the net, DLL import), aso.
or sentiment data from resources
Quoting Fx-Gamer
{quote} Very good question. I always ask myself what kind of data is being used; A) real volume (impossible with forex, but possible with indices, stocks, etc., after subscription!) B) ticks; seems to be mostly used, (brokers ticks) C) a strange combination from brokers ticks, other ticks you can find (on the net, DLL import), aso. or sentiment data from resources
There are several threads dealing with the volume aggregation dilemma, such as here, which I invite you guys interested in VWAP to check.
There is a very high entry/operational cost to properly doing this, imho it's only at institutional's reach.
The closest we can get to an "ok" volume indicator at our level would be to aggregate the provided "real volumes" from brokers plugged to different liquidity providers, and with the highest retail volumes, I would (wild try) go for IB / Saxo / OANDA / LMAX / Forex.com / IC.
Aggregating their "real volumes" would give qualitative insight on trend / sentiment, but I still would not make this the only component of a strategy.
You'll always miss 100% of the shots you don't take.
Quoting masterx584
I modified the Akif TOKUZ Market Statistics and built the MT4 VWAP Plus indicator.To be used only on M5 timeframe.Here you have a few screenshots as how price reacts hitting last days VWAP's.Consider the market reaction in the VWAP's area +-2 pips {image}{image}{image}{image} Most of Pension Funds orders are still sitting on old VWAP'S ready to be filled. To be used exclusively on M5 timeframe.{file}
Good evening please this work is outstanding, i will be glad if you can continue this thread or share the knowledge behind this future prediction indicator
Quoting radatats
this is a great indicator! Only 2 questions. 1. Why does it start at 2200 instead of 2400 (see pic). Is that normal? Still gives great signals for me, just want to be sure its right. 2. Is there any way to let previous days' data stay on the chart? I mean the actual black line and bands. {image}
Hi radatats, can you share swing arrow indicator in your image?
Thanks!
Quoting masterx584
I modified the Akif TOKUZ Market Statistics and built the MT4 VWAP Plus indicator.To be used only on M5 timeframe.Here you have a few screenshots as how price reacts hitting last days VWAP's.Consider the market reaction in the VWAP's area +-2 pips {image}{image}{image}{image} Most of Pension Funds orders are still sitting on old VWAP'S ready to be filled. To be used exclusively on M5 timeframe.{file}
What happens if i use it on a Renko Chart ?
Quoting masterx584;114W7685
Missed by 2 pips on the first try and came back and did it. Ready for the rally?! {image}
Thanks for sharing this. Whats the general trading strategy for using this VWAP Indy?
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  • Last Post: Jun 5, 2021 12:53am Jun 5, 2021 12:53am
Question: would a straight line VWap be like a developing or developed point of control or POC?
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