Introduction
The VWAP Volume and Price is an innovative indicator designed for the Forex market. Utilizing the Volume-Weighted Average Price (VWAP) method, this unique indicator operates based on a standard calculation method which uses the typical price and volume of each candle to generate the average price. This article provides an overview of the core functions of the VWAP Volume and Price trading robot, analyzes its performance over the last year, and discusses its strengths and weaknesses.
Description of Functions
The functionality of the VWAP Volume and Price Indicator centers around the calculation of the average price. This computation comes from the typical price, which is the sum of the high, low, and close prices, divided by three. This typical price is then weighted by the volume of each candle, resulting in the VWAP. By balancing with volume, this indicator allows traders to discern market trends more accurately, providing valuable insights to assist in trading decisions.
Performance Analysis over the Past Year
Over the last year, the VWAP Volume and Price trading robot has shown promising results in the Forex market. Detailed performance statistics are available on the website forexroboteasy.com. The robot has been effective in identifying trend trades by using VWAP as a dynamic support and resistance level. Trends identified with this indicator have demonstrated a higher accuracy rate, contributing to profitable trading strategies.
The year-long data indicates that the robot performed consistently across different market conditions, providing a reliable tool for Forex traders. However, the success rate varied slightly depending on the market volatility and the volume of trades in specific currency pairs.
Pros and Cons
Pros:
- Accurate Trend Identification: By leveraging the VWAP method, the robot effectively identifies market trends, aiding traders in making informed decisions.
- Volume Integration: The inclusion of volume in the calculation provides a more comprehensive market analysis.
- Consistent Performance: Demonstrated stable outcomes across different market conditions over the past year.
Cons:
- Dependency on Volume Data: The efficacy of the indicator may decrease in markets with low volume, affecting its accuracy.
- Limited Customization: While effective, the robot offers limited customization options for advanced traders seeking tailored strategies.
Original Source Code of VWAP Volume And Price
The original source code of the VWAP Volume and Price robot, which is sold on MQL5, is not publicly available. However, based on the detailed descriptions provided on the MQL5 website and forexroboteasy.com, it is possible to create a similar trading robot. If users have any questions regarding the code, they are encouraged to ask them.
The EASY Trading Team has developed a robot code based on the description of the VWAP Volume and Price indicator. It is important to note that the EASY Trading Team does not sell the VWAP Volume and Price robot; rather, they have created a trading robot based on its description.
Code:
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For those interested, you can download the VWAP Volume and Price trading robot from here. This is an example code provided by easytradingforum.com based on the description of the VWAP Volume and Price robot sold on MQL5. If you have any questions about the code, please feel free to ask. The EASY Trading Team is here to provide assistance and support.