The Percentage Volume Forex indicator (PVO) for Metatrader 4 can be classified as a great scalping tool for currency traders.
The indicator appears as an oscillator in the bottom chart of the trading platform and works well for identifying short-term trade opportunities.
It’s recommended to deploy the indicator during the London and New York trading sessions.
Buy & Sell Trade Example
- Open a buy trade when the colored histogram crosses the 0.00 bottom-up.
- Open a sell trade when the colored histogram crosses the 0.00 top-down.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download
Download the “Percentage price oscillator.mq4” indicator for MT4
Indicator Chart (EUR/USD H1)
The picture below shows the Percentage Volume Forex mt4 indicator in action on the trading chart.
Trading Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the Percentage Volume Forex indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Scalping
Does the indicator repaint? No.
Download Now
Download the “Percentage price oscillator.mq4” indicator for Metatrader 4
