Forex Anchored VWAP with Alert Indicator

Forex Anchored VWAP with Alert Indicator:

About the Forex Anchored VWAP with Alert Indicator

What is the Volume Weighted Average Price (VWAP)?
The volume weighted average price (VWAP) is a trading benchmark used by traders that gives the average price an instrument has traded at throughout the day, based on both volume and price.
It is important because it provides traders with insight into both the trend and value of the instrument.
What is the Difference between VWAP and AVWAP?
While VWAP is having as starting point the beggining of the day,week,month etc. in the AVWAP you can place it anywhere you like in your chart.
Description of indicator
This indicator provides 4 AVWAP lines. Once loaded into the chart a Label will appear on your screen “No Vertical Lines”.
By clicking on the label “No Vertical Lines” the indicator creates 4 dashed vertical lines at the beginning of your chart separated by three bars each and draw the VWAP lines named v1,v2,v3 and v4 in four different colors. By moving a vertical line the VWAP line with get automatically updated.
Furthermore, the indicator provides four types of Alerts everytime a AVWAP line is crossed.
Every time you click the label the indicator create the 4 vertical lines and/or repositions them at the beginning of the chart if they already exist.
What If:
You do not need 4 VWAP lines: just delete the vertical lines you do not need.
You erase by accident a vertical line: just create manually a vertical line and named v1, v2 v3 or v4
Every time you click the label the indicator create the 4 vertical lines, or reposition them at the beginning of the chart if they already exist
Vertical Lines Name and Format
  • VLine1=”v1″ : Name of Vertical Line 1
  • VLine2=”v2″ : Name of Vertical Line 2
  • VLine3=”v3″ : Name of Vertical Line 3
  • VLine4=”v4″ : Name of Vertical Line 4
  • VLine_Color=clrBlack : Vertical Line Color
  • Weighted_Volume= true/false – Weights volume of  different sessions taking into consideration that when London and US are operating at same time have the highest volume of all sessions occurs and adjusts the rest of the sessions. With this parameter it very easy visualize which volumes are significant even on Asian hours or non-significant on London-US hrs.
Not to be used with constant tick charts.
Alerts on AVWAP cross
  • TriggerCandle = 1: The candle number that the alert will be triggered (0 is the forming candle, 1 is the one before the forming-closed)
  • EnableNativeAlerts = true/false : Pop-up
  • EnableSoundAlerts  = true/false: Sound
  • EnableEmailAlerts  = false: Email
  • EnablePushAlerts  =true: Push Notification
  • SoundFileName = “alert.wav”: Sound File
Placement and Format of AVWAP Label
  • Corner=1 : Corner of window indicator name will be displayed
  • Top_Offset = 150; // Top Offset Display
  • Right_Offset  = 20;// Right Offset Display
  • Text_Font_Size = 8;// Font Size Display
  • Text_Color = Black;//Txt Color Display

Test results:

Forex Anchored VWAP with Alert Indicator

Copy and paste the file into the MQL4 Indicators folder of the Metatrader 4 trading platform.

You can access this folder from the top menu as follows:

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

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