> For the complete documentation index, see [llms.txt](https://docs.tread.fi/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.tread.fi/creating-and-submitting-orders/advanced-settings/trajectories/twap.md).

# TWAP

<figure><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXckHYJQt--_s0T0wtqRjjf933JWCmcpgIrAm_u-olOyJULKw8wwVurGZpxrWwQlqW38943ENO4b7NC-z07SVcGJVTIRnYLhxvhTJU74ZUD2cabh398QyEl1wMsRh-uYv6l47U3nww?key=2WiiUTnIpT80_43pMWB-IUW2" alt=""><figcaption><p>Example of TWAP Trajectory</p></figcaption></figure>

The **TWAP trajectory** executes an order **at a fixed rate** over its duration, following a **linear execution schedule**. Unlike **VWAP**, TWAP does **not adjust based on market volume**, making it a **simple and predictable execution method**.

#### **How It Works**

* The engine **divides the total order into equal parts** and executes them at **regular intervals** over the specified duration.
* Execution proceeds **at a constant rate**, **ignoring market volume and liquidity fluctuations**.

#### **When to Use TWAP**

* For **straightforward execution strategies** that don’t require volume-based adjustments.
* When trading **illiquid pairs** to ensure **balanced execution** and prevent drastic price fluctuations.
* When **consistent and predictable order flow** is required.
* In markets with **stable or low volume**, where volume-based strategies may not be effective.

#### **TWAP Limitations**

* **Does not factor in market conditions**—executing at a constant rate regardless of liquidity, which can lead to **suboptimal fills**.
* **Constant execution rate may miss short-term alpha opportunities** and does not respond to price trends.

This trajectory is ideal for traders looking for **simple, predictable execution**, particularly in **low-volume or stable markets**.