The VWAP Bands Forex indicator for MT4 is an easy to use buy/sell technical tool that consists of 7 bands based on standard deviation of price from VWAP.
The indicator can be used as a standalone trading tool for both trade entry and exit during sideways price action.
It can also be used as an additional signals indicator that works together with an existing trading strategy or system of your preference.
Buy & sell trading signals from VWAP:
- A new buy trade is given when the VWAP bands are moving sideways and price reaches the green lower band.
- A new sell trade is given when the VWAP bands are moving sideways and price reaches the green upper band.
Feel free to experiment with the indicator’s default inputs and different parameters.
Indicator Example Chart (EUR/USD M15)
The example chart below displays the VWAP Bands mt4 indicator in action.
After you downloaded and installed the indicator on the MT4 trading platform, it should look like the image as shown above.
Feel free to use your own favorite trade entry, stop loss and take profit method when trading with this technical indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Bands
Does the indicator repaint? No.
How to install this indicator on Metatrader 4?
Open the Metatrader 4 platform
From the top menu, click on “File”
Then click on “Open Data Folder”
Then double click with your mouse button on “MQL4”
Now double click on “Indicators”
Paste the indicator in the Indicators folder.
Finally restart the MT4 platform and attach the indicator to any chart.
How to remove the indicator?
Click with your right mouse button in the chart with the indicator attached onto it.
Select “Indicator List” from the drop down menu.
Select the indicator and press delete.
How to edit the indicator’s inputs and parameters?
Right click with your mouse button in the chart with the indicator attached onto it.
From the drop down menu, click on indicators list.
Select the indicator from the list and press edit.
Now you can edit the indicator.
Finally, press the OK button to save the updated configuration.