VWAP Bands STV Indicator for MetaTrader 5 Download - [TradingFinder]

The VWAP Bands Indicator Based on Volume (VWAP Band STV) is an analytical tool in MetaTrader 5 designed to identify support and resistance levels.

This MetaTrader5 indicator consists of a VWAP line and bands that are positioned around it based on trading volume.

VWAP Bands STV Specifications Table

The specifications of the VWAP Bands Indicator are detailed in the table below:

Uptrend Conditions

The price chart below shows the GBP/AUD pair in a 5-minute timeframe. When the price approaches or crosses the lower VWAP band and bounces back upwards, it indicates the potential end of selling pressure and increased buying demand.

Downtrend Conditions

The image below shows the USD/CHF currency pair in a 15-minute timeframe. When the price approaches or crosses the upper VWAP band and moves downward, it provides a sell signal.

Indicator Settings

Image below displays the settings of the VWAP Bands Indicator STV:

• Convergence of lines: Line merging
• Type of VWAP: VWAP category
• Period of Volume Weight Average Price: Timeframe for VWAP
• Shift: Adjustment
• Price Type: Price category
• Number of StdDevs for the 1st band: Standard deviation count for band 1
• Number of StdDevs for the 2nd band: Standard deviation count for band 2
• Number of StdDevs for the 3rd band: Standard deviation count for band 3
• UTC Time (actual) / Local Time (false): Use UTC time or local time
• Asia Time Zone: Asian region time
• Start Asia Time: Beginning of Asia session
• End Asia Time: End of Asia session
• London Time Zone: UK time region
• Start London Time: Beginning of London sessio
• End London Time: End of London session
• AM New York Time Zone: Morning New York time
• Start AM New York Time: Start of morning session in NY
• End AM New York Time: End of morning session in NY
• PM New York Time Zone: Afternoon New York time
• PM Start New York Time: Start of afternoon session in NY
• End PM New York Time: End of afternoon session in NY
• Label: Tag
• Label Color: Tag color
• Text Position: Text alignment
• Line Color: Stroke color
• Line Width: Stroke thickness
• Line Style: Stroke pattern
• Line Back: Background color
• Theme: Theme

Conclusion

The VWAP Band STV Indicator combines volume-based VWAP with bands to provide trading signals.

These bands act as MT5 support and resistance indicator levels and help identify market trends. They can also offer buy and sell signals for traders.