This is Better Volume Indicator for MT4, an old stuff that has been updated to latest MT4 build. You only to turn it on from indicator inputs. Download Price Action Dashboard Indicator Scans ALL Currency Pairs That Have The Best volume indicator for forex Probability Of Winning. Download Harmonic Dashboard Forex Indicator Scans ALL Currency Pairs For Powerful Harmonic Patterns!
Volume indicators are used to determine investors’ interest in the market. In Forex Volume data represents total number of quotes for the specified time period. Sudden and vigorous increase in Volume may signal for an upcoming reversal, while gradual decreasing in Volume may still be supported by rapid price moves. Volume indeed cannot be calculated based on the number of contracts traded and the size of those contracts since Forex market is decentralized by its nature. Volume is calculated based on price ticks. As price changes back and forth, volume adds up.
High volume will have lots of such simple tick shifts, while low volume – very little. I’ve been trading in stocks for the past 7 years using only price, volume and OBV and it has worked very well for me. My question is,will this type of analysis also work in Forex? Forex uses the same technical approach for analysing volume. There is an important volume index that doesn t appear in the list: the market facilitation index. I use it for the last year at to me, it is the best volume indicator in the market, since it takes into account not only the pips fluctation accumulation but also the intensity of the variation of each movement of each movement of the cursor price. Combined with a couple other indicators to measure the trend and the momentum and then you have a very stable trading system.
Thank you, the indicator has been added. I’ve looked everywhere for the Chaikin Money Flow Indicator and can’t find anything! First time I’ve failed to find what I was looking for. What is the best indicator for detecting pivot points? Renko indicators are currently being prepared.