The VWAP Session indicator is usually used by large institutions to detect market entries to buy low and sell high.

VWAP stands for Volume Weighted Average Price, so the purpose of the indicator is to show the fair price of a given asset.

Buy below the VWAP level and sell above it.

The indicator also displays bands with deviations to determine the price in an overbought/oversold situation.

Usually, you can buy an asset and look for an exit opportunity if the price leaves the third or fourth deviation.

You can also use the second deviation for quick scalping.

VWAP can generate alerts when the price crosses the deviation level.

The VWAP indicator generates alerts for both input and output (the central VWAP price is a reference price). Alerts can be used to search for an input (second, third, fourth deviation) or a target value (VWAP).

• Session (Weekly/Daily): session for calculating the indicator
• SessionStart: Time of day to start the daily session
• CountSessions: the number of sessions to display on the chart
• Deviation 1 to 6: Deviations for displaying the upper and lower bars (see the comment below about several deviations)
• UseAlerts (true/false): if true, generate alerts when crossing a level
• SoundAlerts (true/false): if true, enable sound alerts
• SoundFile: name of the wav file of the sound alert
• PopupAlerts (true/false): if true, use pop-up alerts
• EmailAlerts (true/false): if true, use email alerts (see the MetaTrader documentation to learn how to set up email alerts)
• NotificationAlerts (true/false): If true, send notifications to a mobile device (see the MetaTrader documentation to learn how to set up sending alerts to a mobile device)
• LogAlerts (true/false): if true, create logs with alerts on the Experts tab”
• DeviationThresholdOut: the level at which exit alerts are triggered (from the area inside the deviation level bands to the area outside)
• DeviationThresholdIn: the level at which entry alerts are triggered (from the area outside the deviation level bands to the area inside)

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If you want to display more than six deviation levels, run the indicator on the chart several times and change the settings for each of them.

VWAP works on any symbols: Forex, futures, equity, commodities, etc.

The VWAP indicator works on any timeframe less than the weekly one (for a weekly session) and lower than the daily one (for a daily session).

We recommend running on the M30.

We recommend working on the weekly session and the M30 timeframe.

We also recommend that you do not display more than two sessions on the same chart to speed up the display and reduce the computational load on the processor.

Also check out the advanced version of VWAP called VWAP Dynamic: https://www.mql5.com/ru/market/product/24986

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