VWAP band STV indicator download for MetaTrader 4 | Forex indicator download - MT4/MT5 resources

The VWAP Band STV indicator combines the Volume Weighted Average Price (VWAP) analysis tool and the Support and Resistance indicator in MetaTrader 4 .

This indicator identifies overall market trends, price reversal points, and buying and selling pressure.

VWAP band STV specification sheet

The following table lists the general characteristics of the VWAP Bands indicator on the MetaTrader 4 platform.

Indicator Overview

The VWAP Bands Indicator, as a band and channel indicator , calculates the average price of an asset taking into account trading volume. These trading tools identify the market trend and determine reversal points using support and resistance bands.

Uptrend Conditions

The price chart below shows the global gold spot price against the US dollar (XAU/USD) on a 5-minute time frame.

A trend reversal occurs when price movement touches two key levels within the lower VWAP bands , providing traders with a buying opportunity .

downtrend conditions

The image below shows the Binance Coin (BNB) chart on the 1 minute time frame.

When price movement hits two key levels within the upper VWAP bands , it reverses the uptrend and provides a selling opportunity.

Indicator Settings

The main settings are VWAP Bands STV MetaTrader 4 indicators as shown below:

• Merging of lines: Merging of lines
• Type of VWAP: VWAP category
• Volumetric weight average price period: Duration of VWAP
• Shift: Adjustment
• Price Type: Price format
• Number of standard deviations for the first band: standard deviations with 1
• Number of standard deviations of the second band: Standard deviation of band 2
• Number of standard deviations of the third band: Standard deviation of band 3
• UTC time (true)/local time (false): Use UTC (true) or local time (false)
• Asia Time Zone: Asian zone
• Start Asia Time: Start of Asian time
• End Asia Time: End of Asia time
• London Time Zone: London session zone
• Start London Time: London opening hours
• End London Time: London closing time
• New York time zone morning: New York morning session
• Start in the morning New York time: Departure from New York in the morning
• End of morning New York time: End of morning New York
• PM New York time zone: New York Afternoon Show
• PM start New York time: Depart New York in the afternoon
• End of afternoon New York time: End of afternoon New York
• Label: Identifier
• LabelColor: Color of label
• TextPosition: Placement of text
• LineColor: Color of line
• LineWidth: Thickness of line
• LineStyle: Line appearance
• LineBack: the background color of the line
• Theme: Design scheme

Conclusion

The VWAP Band STV indicator is a MT4 trading auxiliary indicator used for market trend analysis and identifying reversal points , support , and resistance .

This indicator defines appropriate entry and exit to earn points by analyzing trading volume (VWAP) and detecting trends.