Simple Volume Indicator For MT4

Simple Volume Indicator For MT4

The Simple Volume Indicator For MT4 displays the interaction between opening price and volume for the period under consideration. This indicator can be used to gauge investor interest in an underlying market. High volumes, especially on a break of an important level, could potentially signal the start of a new trend, while low volumes point to trader indecision or lack of interest. In case of Forex trading, since the market is decentralized, volume gets calculated based on change in price ticks. 1 tick equals 1 volume. As currency rates fluctuate through a session, volume begins to add up.

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Installing the Simple Volume Indicator For MT4

After you downloaded the indicator via the form above you need to unzip the zip-file. Then you need to copy the file Simple_Volume.mq4 into the folder MQL4\Indicators of your MT4 installation. After that please restart MT4 and then you will be able to see the indicator in the list of indicators.

Parameters of the Simple Volume Indicator For MT4

The Simple Volume Indicator For MT4 has 1 parameters to configure.

extern int SVPeriod=100;

Buffers of the Simple Volume Indicator For MT4

The Simple Volume Indicator For MT4 provides 1 buffers.


Main Parts Of The Code

int start()
   int i,counted_bars=IndicatorCounted();
   if(Bars lt SVPeriod) return(0);

   if(counted_bars gt SVPeriod) i=Bars-counted_bars-1;
   while(i gt 0)
Buffer[i] = Open[i] * Volume[i] ;



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