Vwap high of the day and low of the day (MT5) — review, price and free alternatives

The product is authored by Frank Jose Olivo Flores and is offered as an MT5 indicator with a one-time price of $30.

What makes Vwap high of the day and low of the day unique is its distinction between a recalculated Today VWAP and frozen historical VWAPs. The algorithm computes a VWAP anchored to the precise bar representing that day's high and low, then stores those calculations for DaysBack entries. Traders can visually compare today's dynamic VWAP to prior static levels to see confluence and potential mean reversion zones. The indicator works best on liquid forex majors and high-volume equity or futures intraday sessions, handling opening volatility and mid-session consolidation well.

Risk management is external to the indicator but the design supports strict stop placement just beyond static VWAP bands and position sizing based on distance to the next anchored VWAP. Expected performance characteristics include moderate trade frequency, clear risk-reward setups when combined with confirming price action, and reliable zone identification rather than predictive timing.

The risk level for Vwap high of the day and low of the day is moderate when used with disciplined money management. The indicator itself does not impose stop losses; traders should place stops beyond the next anchored VWAP or a predefined ATR multiple to limit tail risk. Position sizing should be percentage-based, for example 0.5 to 1.5 percent of equity per trade, adjusted for instrument volatility. Vulnerabilities include low-liquidity sessions, news spikes, and instruments with erratic spreads. Recommended account size is at least $2,000 for forex and proportionally larger for equities or futures depending on contract sizes.

Install the indicator file into the MT5 indicators folder and restart MetaTrader 5 to load it. Attach Vwap high of the day and low of the day to a chart, then configure DaysBack to select how many historical VWAPs to display and set color entries for high and low lines. Choose a broker with low latency and competitive spreads for intraday VWAP work, ideally an ECN or STP forex broker for currency pairs. Use 5, 15, or 60-minute charts to balance noise and signal clarity.