This indicator is a developed idea of using normalized volumes (Normalized Volume).
First of all, the normalized values are now expressed in percentage of the average value for a period. Accordingly, the data on the chart can now take negative values, too. This will mean some lull on the market.
Another useful innovation is coloring histogram bars according to the normalized volume size.
– Blue color means that the current volume is less than the average one for this period.
– Dark green color means a small exceeding in volume as compared to the average one for this period.
– Light green color means that the increase in volume has exceeded the Fibo level of 38.2% as compared to the average one for this period.
– Yellow color means that the increase in volume has exceeded the Fibo level of 61.8% as compared to the average one for this period.
– White (it is red in the image below not to melt into the background) color means that the increase in volume has exceeded the Fibo level of 100% as compared to the average one for this period.
MT4 Indicators – Download Instructions
Normalized Volume Oscillator is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
Normalized Volume Oscillator provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install Normalized Volume Oscillator.mq4?
- Download Normalized Volume Oscillator.mq4
- Copy Normalized Volume Oscillator.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on Normalized Volume Oscillator.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator Normalized Volume Oscillator.mq4 is available on your Chart
How to remove Normalized Volume Oscillator.mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
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MT4 Indicators Download here: Normalized Volume Oscillator