Full VWAP Indicator: Session Volume Weighted Average Line

Written by Dominic Walsh · Published 8 Jun 2026 · Last updated 20 Aug 2026

The full vwap indicator plots a running volume-weighted average price line over the candles. Each bar contributes its typical price multiplied by tick volume. The line then divides the two running totals. ResetDaily starts a fresh session every day.

This build ships as full-vwap-indicator-mt5-indicator-forexmt4systems.ex4 for MT4 and full-vwap-indicator-mt5-indicator-forexmt4systems.ex5 for MT5; the screenshots below come from EURUSD H1.

Platforms	MT4 (.ex4) + MT5 (.ex5)
Chart window	Main price chart
Plots	1: VWAP
Alerts	popup, push notification, email, sound
Inputs	7

What the Full Vwap Indicator draws on the chart

VWAP names the single plot. It rides on the price chart in light coral, tracing the average price at which the session has traded so far.

Session boundaries show up as a jump. With ResetDaily on, the totals clear at the first bar of a new day. The line then restarts near price instead of dragging the whole history along.

No bands or deviation lines appear. The build draws the average itself and leaves the rest of the chart to you.

• VWAP: plot, light coral

How the Full Vwap Indicator calculates its values

Typical price and weight

Each bar produces a typical price. The code adds the high, the low and the close, then divides by three. Multiplying that figure by the bar’s tick volume gives the weight the bar carries into the average.

The running average

Two totals build up as the scan walks forward. One holds the sum of price times volume. The other holds the sum of volume alone. Dividing the first by the second gives the value the line draws. A bar with no recorded ticks falls back to its own typical price.

The daily reset

ResetDaily defaults to true and clears both totals when the day of year changes. Turning it off leaves the accumulation running from the first bar on the chart. That produces a much flatter line, one that barely moves late in the history.

How to read the signals

Price above the line means buyers paid up. Sellers hold the edge below it, and many intraday traders use that split as their session bias.

Distance matters as much as side. Price stretched far from the line often snaps back toward it, which is why the average works as a reference for fades.

The first hour of a session carries little data. With few bars in the totals the line whips around, so give it time before you lean on it.

Alert channels in this build: popup, push notification, email and sound, one message per closed bar.

EnableAlerts and EnablePopup arrive on, while EnablePushNotify, EnableEmail and EnableSound arrive off and SoundFile holds alert.wav. A close that crosses the line triggers one message per newly closed bar.

Every Full Vwap Indicator input

Core settings

Setting	What it does	Default
ResetDaily	Clears the running totals at each new day; turn it off for a chart-wide average instead of a session one.	on

Alert settings

Setting	What it does	Default
EnableAlerts	(see inputs panel)	on
EnablePopup	(see inputs panel)	on
EnablePushNotify	(see inputs panel)	off
EnableEmail	(see inputs panel)	off
EnableSound	(see inputs panel)	off
SoundFile	(see inputs panel)	alert.wav

Settings that fit your chart

Session averages suit intraday work. The screenshot uses EURUSD H1, where a daily reset gives roughly twenty-four bars per session. On M5 and M15 the line carries far more detail and behaves closer to the stock-market version traders know. Above H4 the daily reset leaves too few bars to say much.

When the Full Vwap Indicator fails

Forex has no central tape. The build uses tick volume from your broker, which counts price updates rather than contracts, so two brokers can draw slightly different lines on one pair.

The running totals rebuild from the first scanned bar. After a chart refresh or a history load, the earlier part of the line can differ from what you saw before. Treat old values on the left edge with care.

A session average lags a fast move by design. During a trend day price can sit above the line for hours, and a fade taken on distance alone runs straight into that trend.

Copy full-vwap-indicator-mt5-indicator-forexmt4systems.ex4 into MQL4/Indicators and full-vwap-indicator-mt5-indicator-forexmt4systems.ex5 into MQL5/Indicators, then restart the terminal and drag the Full Vwap Indicator onto a chart. The step-by-step guide with screenshots is at how to install MT4 and MT5 indicators.

Download the Full Vwap Indicator for MT4 and MT5

The zip full-vwap-indicator-mt5-indicator-forexmt4systems.zip holds full-vwap-indicator-mt5-indicator-forexmt4systems.ex4, full-vwap-indicator-mt5-indicator-forexmt4systems.ex5 and a short README, compiled files only. Enter your email below and the download link arrives in your inbox.

FAQ

What does ResetDaily change about the VWAP line?

It decides whether the totals clear at the start of each day. With it on, the line describes the current session and restarts every morning. With it off, the average runs from the first bar on the chart and slowly stops responding, since each new bar adds little weight.

Which volume does the VWAP calculation use?

Tick volume from your terminal. The platform counts the number of price changes inside each bar rather than traded contracts, because spot forex has no central exchange feed. The shape usually tracks real activity closely, though the absolute figures differ between brokers.

Why does the VWAP line jump at the start of a new day?

ResetDaily clears both running totals when the day changes. The first bar of the session then sets the average on its own, so the line snaps back to price instead of continuing from yesterday. That break is deliberate and matches how a session average behaves elsewhere.

Does EURUSD H1 give a usable session average?

It works, though the reset leaves only about twenty-four bars per day. Lower timeframes such as M5 and M15 fill the session with more samples and produce a smoother, more responsive line. Traders who want a longer reference sometimes turn ResetDaily off and read the whole chart.

Are results guaranteed?

No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the Full Vwap Indicator as one input. Always backtest before trading live.