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Brokers who offer VWMA & VWAP indicators
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Brokers who offer VWMA & VWAP indicators

  #1 (permalink)
Trading Apprentice
northamptonshrie + England
 
Futures Experience: Beginner
Platform: mt4
Favorite Futures: FX
 
Posts: 5 since Sep 2014
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Brokers who offer VWMA & VWAP indicators

Hi does anyone know any brokers (or a list of brokers) who offer the VWMA and VWAP indicators on their platform?

I cant find any and MT4 doesnt offer it so if anyone can shed any light on it i would be very grateful,

Thanks.

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  #2 (permalink)
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  #3 (permalink)
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MT4 == Forex
No reliable volume data in Forex, so volume based indicators don't make sense.

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  #4 (permalink)
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sam028 View Post
MT4 == Forex
No reliable volume data in Forex, so volume based indicators don't make sense.

Yeah I know, but do you know any brokers who offers these indicators on a platform?

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  #5 (permalink)
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mpaca View Post
Yeah I know, but do you know any brokers who offers these indicators on a platform?

if there is no volume, how do you calculate a Volume Weighted Average Price?

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  #6 (permalink)
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northamptonshrie + England
 
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sam028 View Post
MT4 == Forex
No reliable volume data in Forex, so volume based indicators don't make sense.


haljordan View Post
if there is no volume, how do you calculate a Volume Weighted Average Price?

I trade share and commodity cfds. These have volume (i know FX doesnt). On tradingview.com I can see the VWAP and VWMA on commodities and shares. I need a broker who has the same indicators because tradingview isnt a broker and switching between screens when trying to trade the M1/M5 graphs is slow and less effective.

I hope you understand what I mean.

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  #7 (permalink)
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@mpaca

First you will need a reliable data feed (one that does not come through in packets/ blocks etc)

/6E is basically the equivalent of eur/usd except it is the hedging side of the cash/ spot side

Second you will need a good trading platform

It seems most here use Ninja but I understand Sierra (to name one of several) is good as well

-Bill

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  #8 (permalink)
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mpaca View Post
Hi does anyone know any brokers (or a list of brokers) who offer the VWMA and VWAP indicators on their platform?

I cant find any and MT4 doesnt offer it so if anyone can shed any light on it i would be very grateful,

Thanks.

I think you're saying that your trading platform is solely MT4, and you're looking for a indicator that will display you the VWAP for whatever chart you put it on. I am just (re)stating it that way because, it's not a matter of finding a broker that does or doesn't provide such an indicator: it's just a flat out matter of finding such an indicator for the MT4 platform.

I used to be very fluent in MT4 years ago, and had some such indicators, but, many of them don't work any longer. Metaquotes has made changes to MQL4 over the years (via the mandatory platform push updates), and many an indicator that used to work, no longer does, either because of syntax changes or other reasons.

While MT4 has usefulness, because of the grossly poor way in which it stores historical data, it lacks decent granularity on how well it can display or properly calculate anything historical. For example, it stores nothing with any greater detail than a minute bar's high, low, open, close and volume. There is no up/down tick info, and no detail into the 60 seconds that occurred within that 1 minute bar.

I just googled for MT4 and VWAP and am surprised there seems to be no 'advanced' indicators since the 2011/2012 timeframe; that might be because MT5 is where they are focusing development.

Having said that, there's a indicator that purports to calculated VWAP here, but I could not make sense of it, when quickly throwing it onto today's CL (WTI oil) chart, in MT4. Perhaps you can try it out and see what you can find: Market Statistics (Volume Histogram, VWAP with SD bands) - Page 17

There is another VWAP indicator here, but I am not a fan of the timeframe limitations it has. I and most traders want to see VWAP on a daily basis (from the official [day] open time of the instrument), or on a weekly or monthly basis, and this indicator doesnt let you specify that granularity of detail through it's settings. It does though have some usefullness and works on the current version of MT4: Looking for Useful Indicators @ Forex Factory

Some more VWAP MT4 indicators here, but I have not tried them and don't know if they would compile under the current MT4 builds: Help please - VWAP

For a Market Profile, which I seem to recall included a POC, maybe a VWAP, and of course LVN/HVN zones, this was a neat indicator, but alas, it is from 2011, and does not work under the current MT4 build 670; it compiles with many but what seem solely syntax errors I think, so, someone with some MQL skills could probably update it: Auction Market Theory and Market Profile - Page 33 @ Forex Factory

The same user on that same forum wrote some pretty advanced indicators including TPO charting in MT4; I suspect though they may not compile under the current MT4. Nevertheless, you can explore them via his profile page and reviewing the attachments he has made to the forum.

This market profile indicator does work, and there might be others on that site that could be helpful to you: R-Market Profile » Metatrader Files

Hopefully that is of some help. But, as noted by others, you're really swimming upstream trying to calculate things like VWAP, market profile, etc, in MT4. There are probably online web based packages that can do it better, for either free, or a minimum monthly access charge. (or, consider something like a TOS demo? Not sure if they are live or 20min delayed, if cost is a factor)

BTW, if you need help on where to place the *.MQ4 files you download, how to compile them and get them to appear on your MT4 charts, let me know.

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  #9 (permalink)
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@Beljevina, excellent answer/ response

I guess I should have asked @mpaca why the desire (need?) for MT4 or whatever version of MT?

Is it because of: the Forex community pushes this, the EA, or?

There are several free(?) robust platforms available

-Bill


Last edited by WilleeMac; October 3rd, 2014 at 08:02 AM. Reason: sp
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  #10 (permalink)
Trading Apprentice
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WilleeMac View Post
@mpaca

First you will need a reliable data feed (one that does not come through in packets/ blocks etc)

/6E is basically the equivalent of eur/usd except it is the hedging side of the cash/ spot side

Second you will need a good trading platform

It seems most here use Ninja but I understand Sierra (to name one of several) is good as well

-Bill

Yeah I checked Ninja trader.. That only has the VWAP now the VWMA too. Im not specifically looking for VWAP/ VWMA on any particular platform.. Im looking for it ANYWHERE.

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