VWAP Band Indicator Download for MetaTrader 5 - Free | Forex Indicator Download - MT4/MT5 Resources

The VWAP Bands Indicator is part of the MetaTrader 5 platform indicators and combines the Volume Weighted Average Price (VWAP) and dynamic price bands to determine the overall direction of price movements.

This trading tool includes an "MA" line with positive and negative bands above and below the moving average. The VWAP indicator plays an important role in predicting future price movements and finding the best entry points for trades.

VWAP frequency band indicator specification table

Indicator overview

Price fluctuating within upper or lower limits and price crossing moving averages determine whether a trend is bullish or bearish .

The VWAP Bands represent price fluctuation ranges and include the following:

• Upper Band : Serves as resistance The level at which price reaction is likely to be in an uptrend.
• Lower Band : Serves as support A level at which price reaction is likely to be in a downtrend.

Bullish trend performance

According to the EUR/USD 30-minute chart , crossing the indicator’s midline (light blue moving average) indicates a trend change bearish to bullish .

As shown, the upper bands effectively resist price and cause a reaction when touched.

Bearish trend performance

In the Ethereum (ETH) 1 hour chart , a break below the indicator’s midline (light blue moving average) indicates a trend change from bullish to bearish .

The chart shows that the lower bands provide support and price reacts to these levels.

Indicator Settings

• Type of VWAP : Determine calculation based on different time ranges;
• Shift : adjust the VWAP position forward or backward;
• Price Type : price-based calculation type;
• The number of standard deviations in the first frequency band : the standard deviation value (1.0) of the first upper and lower bands;
• The number of standard deviations in the second frequency band : the standard deviation value of the second upper and lower bands (2.0);
• The number of standard deviations in the third frequency band : the standard deviation value of the third upper and lower bands (2.5);
• UTC time (true)/local time (false) : Determine the session time based on UTC;
• Asia Time Zone : Asian session;
• Start Asia Time : 7:00;
• End Asia Time : 17:00;
• London Time Zone : London session;
• Start London Time : 7:00;
• End London Time : 16:30;
• New York Time Zone : New York session;
• New York time morning start : 14:30;
• PM starts New York time : 19:30;
• End New York Time : 22:55;
• Label Color : Color of labels;
• Text Position : The position of the label text;
• Line Color : Determine the line color;
• Line Width : Determine the thickness of the line;
• Line Style : Line type;
• Line Back : adjust the line backward;
• Theme : Indicator theme.

Conclusion

The VWAP Band Indicator combines the Volume Weighted Average Price (VWAP) and dynamic price bands on the MetaTrader 5 platform to determine the overall direction of price movements.

This indicator , includes a moving average line (MA) and positive/negative bands above and below it. These VWAP Bands serve as price ranges, identifying key resistance and support levels.