Volume Weighted Moving Average (VWMA) Candle Indicator
Info
The Volume Weighted Moving Average (VWMA) Candle Indicator is a Expert Advisor for MetaTrader 5 that a trading system based on the volume weighted moving average (vwma) candle indicator signals. This indicator provides signals for potential trade entries based on the color change of the VWMA candlesticks.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Experts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Volume Weighted Moving Average (VWMA) Candle Indicator
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
A trading system based on the Volume Weighted Moving Average (VWMA) Candle indicator signals.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 5. Place the file in the MQL5/Experts folder and restart the terminal.
Description & Settings
Related: Nikkei 225 EA: High Profitability with Low Volatility and Quiet Volume - another powerful expert for MetaTrader 5 traders.
A trading system based on the Volume Weighted Moving Average (VWMA) Candle indicator signals.Also recommended: Prop Spread: Time-Weighted Spread Monitor with ATR Context, Alerts, and CSV Logging - similar expert with strong performance on MetaTrader 5.
This indicator provides signals for potential trade entries based on the color change of the VWMA candlesticks. A signal to execute a trade is generated when the indicator candlestick color changes from green to pink or vice versa at the close of a bar.
To use this system, place the following files in the
- volume_weighted_macandle.ex5
- volume_weighted_ma.ex5
The tradealgorithms.mqh library file enables the use of this expert advisor with brokers that offer nonzero spreads and allows setting stop loss and take profit at the time of position opening.
You can download additional variants of this library from the link provided.
The default input parameters were used for the tests shown below, and stop loss and take profit were not employed during testing.
Fig. 1: Examples of trade history instances on the chart.
Testing Results for 2026 on GBPUSD H4:
Fig. 2: Chart of testing results.
You may also like: Accurate Position Sizing Using Broker Tick Values and Volume Steps - excellent alternative for expert users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property indicator_chart_window
#property indicator_buffers 1
#property indicator_plots 1
#property indicator_type1 draw_line
#property indicator_color1 clrdodgerblue
#property indicator_style1 style_solid
#property indicator_width1 2.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.