VWAP Lite - Volume Weighted Average Price - MetaTrader 5 Script - MT4/MT5 Resources

VWAP is an intraday calculation used primarily by algorithmic and institutional traders to evaluate how a stock is trading relative to the day's volume-weighted average. Day traders also use VWAP to assess market direction and filter trading signals. Before using VWAP, understand how it is calculated, how to interpret and use it, and the shortcomings of this indicator ( http://traderhq.com/trading-strategies/understanding-volume-weight-average-price/ ).

This is based on the VWAP indicator described by Investopedia ( http://www.investopedia.com/articles/trading/11/trading-with-vwap-mvwap.asp ).

I've added three rows to this indicator. The main ones are daily VWAP, which is calculated based on intraday values, and weekly and monthly, which are calculated based on the start of the week and month respectively.

All three lines are independent. By default, only day trading is enabled, but you can enable additional trading in the properties panel.

Thank you for downloading this code. I'll be waiting for your comments, votes, and ratings.

Attachment download

📎 vwap_lite.mq5 (12.01 KB)

Source: MQL5 #14557