The Percentage Volume Oscillator (PVO) Indicator for MT5 is a popular and free forex indicator that is useful for analyzing short-term price movements. The PVO indicator is based on the comparison of a short-term and a long-term moving average of the volume. The PVO indicator is designed to measure the momentum of the volume and identify possible trend reversal points. The PVO indicator is composed of two lines, the short-term line (red) and the long-term line (blue). The short-term line is usually a 10-day moving average of the volume, while the long-term line is usually a 30-day moving average of the volume. The PVO indicator will generate buy and sell signals when the short-term line crosses above or below the long-term line. When the red line crosses above the blue line, a buy signal is generated, and when the red line crosses below the blue line, a sell signal is generated. The PVO indicator is a popular and free forex indicator that is available for MT5.
MT5
Percentage Volume Oscillator
The Percentage Volume Oscillator (PVO) is a popular and free Forex indicator for the MT5 platform. It is a useful tool for traders to identify the strength of a trend and to detect potential reversals. The PVO indicator is typically used to identify divergences between the price and volume, which can be used as a warning sign of a potential trend reversal. The PVO indicator is a popular and useful tool for traders to identify potential reversals and to gauge the strength of a trend.
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How to Install
How install MT4/5 indicator in the terminal?
To install an MT4/5 indicator in the terminal, follow these steps:
Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.
Open the MT4/5 terminal and click on “File” in the top left corner.
Select “Open Data Folder” from the dropdown menu.
In the window that opens, double-click on the “MQL4/5” folder.
Double-click on the “Indicators” folder.
Drag and drop the indicator file from your computer into the “Indicators” folder.
Close the data folder window and restart the MT4/5 terminal.
The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.
Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.
And if asks to confirm DLL?
If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.
DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.
If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.
It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.
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