The VWAP buy/sell trade channel Forex Metatrader 4 indicator represents a dynamic trade channel that’s somewhat wrapped around the price.
The VWAP indicator is composed of a mid line, upper channel line and lower channel line.
It creates a tradable channel that’s fairly easy to trade.
Interpret the VWAP Forex trade channel as follows:
- Price is going up when the trade channel’s slope is going up.
- Price is going down when the trade channel’s slope is going down.
- Price is range-bound when the trade channel’s slope is positioned horizontally.
Discover below how to trade with the VWAP buy/sell trade channel indicator for good profit.
Feel free to explore the VWAP indicator’s different parameters and settings to create your personalized indicator setup.
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VWAP Buy/Sell Trade Channel Indicator Chart
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
This indicator works for any currency pair and time frame of your preference.
Finding Buy and Sell Triggers With The VWAP Buy/Sell Trade Channel Forex Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Open a buy trade when price touches the lower VWAP channel line.
Place a protective stop loss below the most recent low price, or use your own stop loss placement strategy.
Close the buy trade at the upper VWAP channel line.
Sell Trigger: Open a sell trade when price touches the upper VWAP channel line.
Place a protective stop loss above the most recent high price, or use your own stop loss placement strategy.
Close the sell trade at the lower VWAP channel line.
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Price calculation method, colors, width, style.
The indicator can be used as a stand-alone signals indicator.
It can also be combined with:
- Trading oscillators (MACD, Stochastic, DeMarker,…)
- Trend indicators (Moving Average, Bollinger Bands, ADMI, Parabolic SAR,…)
- Price action methods and techniques
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: channel
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.