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Price Volume Trend MTF

Identify bullish and bearish forex price trend using volume in a unique method. Price Volume Trend uses percentage values to calculate volume changes. Differs from regular volume and price based MetaTrader indicators. Download now to improve you trading results.

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Description

The Price Volume Trend MTF MetaTrader indicator combines the price and volume to identify the trend. It creates a simple oscillator indicator that reflects the bullish and bearish forex price trend. Though the underlying calculations are similar, there are few differences from the classic volume price trend indicator and the MTF version.

In terms of technical analysis, this indicator provides capability to analyze different time frames on the current price chart. Additionally, the indicator applies sensitivity filters to help traders adjust the indicator responsiveness.

Features of Price Volume Trend MTF MT4 Indicator

This indicator is basically different from other price and volume related MetaTrader indicators. It considers the percentage increase or decrease in price from the previous period price. However, other indicators just add or subtract the volume depending on the current and previous period’s price.

In fact, if the price of the currency pair moves higher the indicator multiplies the volume and percentage increase of current close and previous close. The result is added to previous period’s indicator value. In a similar fashion, during a down trend the indicator uses the percentage of price decrease in the formula.

As a result, the indicator is able to identify and reflect price trends by combining volume and price. In fact, the indicator is more effective than other similar MetaTrader indicators like the OBV-On balance Volume to identify trend using volume.

The indicator plots two lines on a separate indicator window. Indicator line is in lime, while the moving average is in red. The buy and sell trading signals are based on the crossover of these lines.

If the indicator line moves above the red moving average it indicates a bullish price trend. Traders should enter a buy position with a stop loss below the previous swing low. It is prudent to wait for the trend to end and book profits at an opposite trading signal.

Traders can follow a similar trading strategy in a bearish market condition if the indicator line moves below the red line.

Benefits of Price Volume Trend MTF MT4 Indicator

Volume plays an important role in trend trading; it helps traders to identify the trend strength. Hence, this indicator is beneficial for forex trend traders focusing on volume.

The indicator works well in all chart time frames and is suitable for scalpers, short and long-term forex traders. Moreover, it is versatile and provides multiple options in the input settings for traders to adapt to different trading situations. So, this indicator is suitable for new and advanced forex traders.

Indicator Settings Description

History: Number of history bars for indicator calculation.

TimeFrame: Traders can choose current chart time frame of choose from 1 min to 1 month from the list.

Calculation: Choose frome MQL_Original, MQL_TimeFrame, TSLAB_RU, Trading View and Japan_OCLH options.

PRPeriod: Price period.

VLPeriod: Volume period.

Method: Traders can choose from 4 different moving averages.

Price: Provides seven different price choices.

SQPeriod :, SQMethod:, SQPrice: Input for average calculation.

SigMA :, SGMethod: Improves sensitivity and acts as a filter.

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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:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. 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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