Introduction to the VWAP Oscillator Indicator
The VWAP Oscillator Indicator is a forex oscillator based on, as the name suggests, the Volume Weighted Average Price indicator. As you can see, it consists of two lines: red and yellow. The indicator provides reliable forex trading signals that are triggered at the crossover of these lines. When the yellow line of the VWAP Oscillator is above the red one, it means the trend is considered bullish. Similarly, when the yellow line of the VWAP Oscillator is below the red one, it means the trend is considered bearish.
The VWAP Oscillator 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.
Example trade with the VWAP Oscillator Indicator
Below is the screenshot of an example trade with the VWAP Oscillator Indicator.
As you can see, lines of the VWAP Oscillator switched places and the yellow one turned below the red one. Then the price started to drop definitely, which was right suggested by the VWAP indicator.
How to set up the VWAP Oscillator indicator in MT4?
Download the VWAP Oscillator.rar archive at the bottom of this post, unpack it, then copy and paste the VWAP Oscillator.ex4 or VWAP Oscillator.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.
The VWAP Oscillator 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.
Download Free Forex MT4 VWAP Oscillator Indicator
To download the VWAP Oscillator Indicator for Metatrader 4 (MT4) for free just click the button below: