The Daily Forex Volume candlestick indicator for MT4 displays the daily Forex volume above each candlestick.
It gives you an overview of daily market volatility.
Key Points:
- Green volume numbers above the candlestick mean a positive day (market up).
- Red volume numbers above the candlestick mean a negative day (market down).
The indicator should be viewed on the daily chart for ease of use.
Free Download
Download the “aliev-fx-volumes.mq4” indicator for MT4
Indicator Example Chart (EUR/USD Daily)
Daily Volume + 4 Time Frame Hull Trend Forex Strategy for MT4
This strategy combines the market participation insight of the Daily Volume Forex Indicator with the multi-timeframe trend confirmation of the 4 Time Frame Hull Trend Indicator.
By blending volume strength with trend alignment across multiple timeframes, this strategy provides a high-confidence framework for identifying strong continuation setups.
It works best on the M30 to H4 timeframes, particularly during high-liquidity sessions.
What Is This Strategy About?
The Daily Volume Indicator shows the current day’s volume and how it compares to previous days, helping traders understand whether a move is backed by real market participation.
The 4 Time Frame Hull Trend Indicator displays trend signals (typically green for bullish and red for bearish) based on the Hull Moving Average across four different timeframes.
By using volume confirmation with trend alignment, this strategy filters out weak or fake signals and highlights moves supported by both price and participation.
Buy Rules
Conditions:
- The 4 Time Frame Hull Trend Indicator shows a bullish signal (green trend) on at least 3 of the 4 timeframes.
- The Daily Volume Indicator shows volume above average or increasing relative to the previous day.
Entry:
Enter a buy trade when the Hull Trend confirms an uptrend across multiple timeframes and the Daily Volume indicates strong or growing participation.
Stop Loss:
Place a stop loss below the nearest swing low or a recent consolidation level.
Take Profit:
Use a fixed risk-reward ratio (e.g., 1:2 or 1:3), or close when Hull Trend starts turning bearish on two or more timeframes.
Sell Rules
Conditions:
- The 4 Time Frame Hull Trend Indicator displays bearish signals (red trend) on at least 3 of 4 timeframes.
- The Daily Volume is above average or rising compared to recent sessions, confirming conviction behind the move.
Entry:
Open a sell trade when the Hull Trend is aligned bearishly and volume confirms momentum behind the decline.
Stop Loss:
Set stop loss above the recent swing high or a resistance zone.
Take Profit:
Target the next support level or use a trailing stop based on Hull signal changes.
Advantages
- Filters out weak signals by requiring volume confirmation.
- Multi-timeframe trend alignment increases the probability of success.
- Clear visuals for both volume and trend make the system beginner-friendly.
- It can be applied to most currency pairs and timeframes.
Drawbacks
- Fewer trade setups due to strict volume and trend confirmation requirements.
- Volume data on MT4 is tick-based and not true exchange volume.
- May lag slightly in extremely volatile markets where quick reversals occur.
Conclusion
The Daily Volume + 4 Time Frame Hull Trend Strategy is a solid approach for traders looking to trade with the trend while ensuring that moves are backed by strong participation.
The Daily Volume Indicator adds a crucial layer of confirmation, while the 4 Time Frame Hull Trend Indicator ensures trend direction is consistent across multiple timeframes.
This combination helps traders avoid false signals and stay aligned with the market’s true momentum.
Indicator Specifications
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Input Parameters: Bars to count, use alerts, color settings & style
Indicator type: trend
Repaint? No.
Download Now
Download the “aliev-fx-volumes.mq4” indicator for Metatrader 4
Installation:
Open the Metatrader 4 platform
From the top menu, click on “File”
Then click on “Open Data Folder”
Then double click with your mouse button on “MQL4”
Now double click on “Indicators”
Paste the aliev-fx-volumes.mq4 indicator in the Indicators folder.
Finally restart the MT4 platform and attach the indicator to any chart.
How to remove the indicator?
Click with your right mouse button in the chart with the indicator attached onto it.
Select “Indicator List” from the drop down menu.
Select the indicator and press delete.
How to edit the indicator’s inputs and parameters?
Right click with your mouse button in the chart with the indicator attached onto it.
From the drop down menu, click on indicators list.
Select the indicator from the list and press edit.
Now you can edit the indicator.
Finally, press the OK button to save the updated configuration.
