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PipTick VWAP is a version of the Volume-Weighted Average Price indicator. VWAP is the ratio between the traded value (price multiplied by the number of traded volume) and the total traded volume for a certain period of time. It measures the average price of an instrument much better than a regular moving average. Although there are many ways to use VWAP, most investors use it to calculate the average daily range.

The indicator operates in five modes:

  • Moving – In this mode, the PipTick WVAP acts as a moving average with a certain period.
  • Daily-In this mode, PipTick VWAP performs calculations from the beginning to the end of the day.
  • Weekly-In this mode, PipTick VWAP performs calculations from the beginning to the end of the week.
  • Monthly – In this mode, PipTick VWAP performs calculations from the beginning to the end of the month.
  • Session Time – In this mode, the user selects the start and end time for PipTick VWAP calculations.

Many traders use VWAP bands in the same way as Bollinger Bands. You can look for reverse trades on the second or third standard deviation from the VWAP. The combination with price action or candle patterns will help you achieve very good results. Of course, PipTick VWAP can also be used for benchmarking, as many investors do.

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  • Multiple modes to choose from
  • First, second, and third standard deviation from VWAP
  • Fast and reliable indicator
  • Configurable parameters (color, line thickness, VWAP period…)
  • It can be used to create an Expert Advisor
  • Designed for MT4 and MT5

  • VWAP_Mode – Select the operating mode: moving, daily, weekly, monthly, and session time. (For the iCustom function, the mode is moving = 0, daily = 1, weekly = 2, monthly = 3, and session time = 4)
  • MA_Period – The period for calculating the moving average
  • Session_Start_Hour – Start time when session time mode is selected. In other cases, this parameter is ignored
  • Session_End_Hour – The hour when the session time mode is selected. In other cases, this parameter is ignored
  • Color_VWAP – color of the VWAP line
  • Color_Deviation1 – Color of the lines of the first deviation
  • Color_Deviation2 – Color of the lines of the second deviation
  • Color_Deviation3 – Color of the lines of the third deviation
  • Visibility_VWAP-Enable / Disable VWAP line display
  • Visibility_Deviation1-Enables / disables the display of the first deviation lines
  • Visibility_Deviation2-Enables / disables the display of the second deviation lines
  • Visibility_Deviation3-Enables / disables the display of the third deviation lines
  • VWAP – VWAP values
  • 1. SD Top-Values of the first deviation line above VWAP
  • 2. SD Top-Values of the second deviation line above VWAP
  • 3. SD Top-Values of the third deviation line above VWAP
  • 1. SD Bottom-Values of the first deviation line below VWAP
  • 2. SDBottom-Values of the second deviation line below VWAP
  • 3. SDBottom-Values of the third deviation line below VWAP

For more information, visit the PipTick VWAP page.

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Published

25 February 2015

Updated

27 August 2020

Current Version

1.5

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OSCAR GUTIERREZ JIMENEZ February 26, 2021 7:09 am
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This task seems to be stoped. It hasn’t been up-to-date since 2016 and also the developer doesn’t respond to questions since 2018.\n\n The sign consumes a large amount of Processor in the event the [Optimum cafes in graph] inside the Choices food selection features a big benefit. I’ve suggested a simple option, but it really doesn’t reply, so I can’t apply it and I’ve needed to uninstall it.\n\n — Revise 2020.04.07: Using the most recent release, functionality has better. You can now decide on the quantity of classes, so regardless of the amount of candles you may have loaded from the record [Max pubs in graph or chart], the Central processing unit ingestion is minimal. As a result of Michael Jurnik for this up-date. Regards.