Anchored VWAP Channel Indicator for MT4

Introduction to the Anchored VWAP Channel Indicator

The Anchored VWAP Channel Indicator displays, as the name suggests, a channel based on the volume-weighted average price for a specific time period, but starting from a user-selected point. This indicator is pretty unique and provides solid signals. Long trades should be placed when the price is above the channel, and conversely, short trade opportunities take place when the price dips below the channel.

The Anchored VWAP Channel Indicator fits all kinds of timeframes and currency pairs. It is displayed in a separate window placed just below the main trading chart. The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.

Starting Point Explained

As we already mentioned, the Anchored VWAP Channel Indicator signals are based on the user-specified starting point. It is marked as the blue target icon. You can move it to the right or left and that way specify the starting point of the indicator. As a result, signals will be recalculated and the channel will adjust accordingly.

Anchored VWAP Channel Indicator Starting Point

Example trade with the Anchored VWAP Channel Indicator

Below is the screenshot of an example trade with the Anchored VWAP Channel Indicator.

Anchored VWAP Channel Indicator Example of Buy Trade

As you can see on the chart above, the price entered an accumulation phase just above the upper band of the Anchored VWAP Channel indicator, and then a powerful breakout to the upside took place.

How to set up the Anchored VWAP Channel indicator in MT4?

Installation Guide

Download the Anchored VWAP Channel.rar archive at the bottom of this post, unpack it, then copy and paste the Anchored VWAP Channel.ex4 or Anchored VWAP Channel.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.

You can gain access to this folder by clicking the top menu options, which goes as follows:

File > Open Data Folder > MQL4 > Indicators (paste here).

Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.

Bottom Line

The Anchored VWAP Channel indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success. Nonetheless, remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it. Don’t forget that we still have more great free forex MT4 indicators to download and try.

Download Free Forex MT4 Anchored VWAP Channel Indicator

To download the Anchored VWAP Channel Indicator for Metatrader 4 (MT4) for free just click the button below:

Anchored VWAP Channel Indicator Free Download

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