The Positive Volume Index (PVI) is a useful and popular free Forex indicator available on the MT4 platform. It is used to measure the amount of buying and selling activity in the Forex market. The indicator works by comparing the current volume of a currency pair to the average volume of the same currency pair over a given period of time. When the current volume is higher than the average volume, the PVI will be positive, indicating that there is increased buying activity. When the current volume is lower than the average volume, the PVI will be negative, indicating that there is increased selling activity. The Positive Volume Index is a great tool for traders to use when analyzing the market. By looking at the PVI, traders can determine whether the current market conditions are bullish or bearish. For example, if the PVI is positive, it could indicate that the market is in an uptrend, and traders should look to buy. Conversely, if the PVI is negative, it could indicate that the market is in a downtrend, and traders should look to sell. For these reasons, the Positive Volume Index is one of the most popular and useful Forex indicators available.
MT4
Positive Volume Index
The Positive Volume Index (PVI) is a popular and useful Forex indicator that is available for free on the MT4 trading platform. The indicator works by comparing the current day’s volume to the previous day’s volume. If the current day’s volume is higher than the previous day’s volume, then the Positive Volume Index is increased. If the current day’s volume is lower than the previous day’s volume, then the Positive Volume Index is decreased. The Positive Volume Index is a great tool for traders of all levels and can be used to help identify potential trading opportunities.
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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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