The Positive Volume Index (PVI) Indicator is a popular and useful tool for Forex traders. It is available for free on the MT4 platform and is a great way to see the activity of buyers and sellers in the Forex market. The Positive Volume Index is calculated by taking the ratio of the current day’s volume to the previous day’s volume; if the current day’s volume is higher, the index rises, and if it is lower, the index decreases. This indicator is used to identify the strength of the current trend. If the index is rising, it indicates that the current trend is strong and buyers are in control. Conversely, if the index is falling, it indicates that the current trend is weak and sellers are in control. The Positive Volume Index indicator is a great tool for traders to use to identify potential entry and exit points. When the index is rising, traders can look for buy opportunities; when the index is falling, traders can look for sell opportunities. It is also useful for identifying potential reversals in the market. If the index is rising and then suddenly drops, it may indicate a reversal in the current trend. Similarly, if the index is falling and then suddenly rises, it may indicate a reversal in the current trend. It is easy to use and can help traders make more informed decisions about their trades.
MT4
Positive Volume Index
The Positive Volume Index (PVI) is a useful free Forex indicator for MT4 that is popular among traders. This indicator measures the increase or decrease of volume associated with the trend of the security being traded. It is based on the premise that an increase in volume indicates a strong trend and a decrease in volume indicates a weak trend. The Positive Volume Index is a useful tool for traders looking to identify potential trading opportunities in the Forex market.
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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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