The Volume Weighted Awesome Signals Oscillator Metatrader 5 forex indicator is designed to be more responsive to volume (volatility) changes during a defined timeframe.
The indicator reveals quite vividly what is affecting the market’s driving force at any given time.
It is no secret that the indicator uses a volume weighted moving average instead of deploying simple moving average.
Seemingly, the indicator is known to use the changes in its color, especially during the zero cross to signal probable changes in trend.
The indicator attains this feat. via the changing color of its histograms.
Deploy the indicator for any trade style such as scalping, day trading and swing trading.
Experiment with its settings to suit your needs!
The EUR/CHF H4 chart below displays the Volume Weighted Awesome Signals Oscillator Metatrader 5 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the lime green and medium sea green histograms of the Volume Weighted Awesome Oscillator Metatrader 5 forex indicator pops up above the zero signal level.
Sell Signal: Go short when the orange and orange red histograms of the Volume Weighted Awesome Oscillator Metatrader 5 forex indicator gets aligned below the zero center line.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the Volume Weighted Awesome Oscillator indicator forms an orange histogram below the zero signal level.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the Volume Weighted Awesome Oscillator indicator pops up a lime green histogram above the zero center line.
Tips: Considering the risks involved in day trading, any form of mistake can prove costly.
However, the Volume Weighted Awesome Oscillator indicator offers actionable tips on capturing when trends alter in the market, thereby transforming you into a winning day trader.
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart window indicator
Customization options: Variable (Volume to use), width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: trend | oscillator
Copy and paste the Volume weighted awesome oscillator.ex5 indicator into the MQL5 indicators folder of the Metatrader 5 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL5 > Indicators (paste here)