Most VWAP indicators only ever calculate from the start of the trading session or the start of the chart’s visible history, which is not always where you actually want the average to begin. VWAP Custom Position solves that by anchoring the calculation to a small arrow object that you can literally drag to any bar on the chart – the volume weighted average price line then recalculates from that exact point forward. It is free to download and built for MetaTrader 5.

What Is the VWAP Custom Position Indicator?

VWAP Custom Position is an MT5 chart-window indicator that plots a single volume weighted average price (VWAP) line, drawn with the DRAW_SECTION line style so it only appears from its anchor point forward, not across the entire chart history. On its first calculation, the indicator creates a small draggable arrow object on the chart. That object’s horizontal position determines the starting bar – the indicator finds which bar the arrow currently sits on (or after) and begins the VWAP sum from there.

From that starting bar forward, the VWAP is calculated the standard way: for each bar it adds (price × volume) to a running total and volume to a running total, then divides the cumulative price-volume sum by the cumulative volume sum to plot the line. The price used per bar is selectable via the Method input – Close, Open, High, Low, Median (H+L)/2, Typical (H+L+C)/3, or Weighted (H+L+C+C)/4 – and the volume used is whatever volume series MT5 is passing to the indicator (tick volume or real volume, depending on your chart/data settings).

Because the anchor is a real, selectable, draggable chart object, moving it to a new bar triggers a short timer-based recalculation that wipes the buffer and rebuilds the entire VWAP line from the new starting point – letting you reposition the anchor on a session open, a news event, a swing low, or anywhere else you want the average to originate.

Key Features

• Draggable anchor arrow – a movable OBJ_ARROW object on the chart defines exactly where the VWAP calculation begins.
• Multiple price methods – choose from Close, Open, High, Low, Median, Typical, or Weighted price for the VWAP calculation via the Method input.
• Unique VWAP ID – the vwapID input lets you run multiple independent VWAP Custom Position instances on the same chart, each with its own anchor object and object name prefix.
• Configurable anchor appearance – arrowSize and Anchor (top/bottom) control the size and vertical anchoring of the draggable marker.
• Live recalculation on drag – moving the anchor arrow fires a short millisecond timer that rebuilds the VWAP line from the new position automatically.
• Custom color – the vwapColor input sets the plotted line’s color independently of your chart theme.

How to Use It

Install by copying the .mq5 file into the MQL5/Indicators folder inside your MT5 data directory (File > Open Data Folder), refresh the Navigator, then drag the indicator onto a chart. A small arrow marker will appear near the middle of your visible chart window – click and drag that arrow to the bar where you want the VWAP calculation to begin (for example, the first bar of a trading session, or the bar of a major news release).

Once anchored, the VWAP line plots forward from that bar as a volume-weighted average, giving you a running “fair value” reference for the period you selected. Traders commonly use an anchored VWAP as dynamic support in an uptrend (price holding above the line) or dynamic resistance in a downtrend (price rejecting below the line), and as a mean-reversion reference when price stretches unusually far from it. Because you control the anchor point directly, you can re-anchor it to a new session open, a breakout bar, or a reversal point at any time simply by dragging the marker again – the buffer clears and rebuilds automatically.

If you want to compare VWAP calculated from two different starting points at once (for example, a daily-session anchor and a weekly-swing anchor), give each instance a different vwapID so their chart objects and buffers don’t collide.

Best Timeframes / Best Use Cases

VWAP is a volume-weighted concept by nature, so this indicator is most meaningful on intraday timeframes (M1 through H1) where anchoring to a session open or an intraday event produces a genuinely useful running average – this is the classic day-trading use case for VWAP. It can technically run on any timeframe since the calculation logic is timeframe-agnostic, but the volume-weighting rationale is strongest where session-based or event-based anchoring is meaningful.

Final Thoughts

VWAP Custom Position takes the standard volume weighted average price concept and removes its biggest limitation – a fixed, non-adjustable starting point – by turning the anchor into a chart object you control directly. Whether you’re anchoring to the market open, a key reversal bar, or a specific news candle, the line rebuilds instantly to reflect exactly the window you want measured.