Introduction to the VWAP Close Indicator
The VWAP Close Indicator is based on the Volume Weighted Average Price (VWAP) and works in a very similar manner to the Moving Average indicator. A trader should pay attention to the slope of the VWAP Close indicator and trade accordingly.
The VWAP Close Indicator fits all kinds of timeframes and currency pairs. It is displayed directly on 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.
How to set up the VWAP Close indicator in MetaTrader (MT5)?
Download the VWAP Close.rar archive at the bottom of this post, unpack it, then copy and paste the VWAP Close.ex5 or VWAP Close.mq5 indicator files into the MQL5 folder of the Metatrader 5 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL5 > Indicators (paste here).
Now go to the left side of your MT5 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The VWAP Close 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 indicators to try.
Download Free Forex MT5 VWAP Close Indicator
To download the VWAP Close Indicator for Metatrader 5 (MT5) for free just click the button below: