The Directional Volatility & Forex Volume Signal indicator for Metatrader 5 provides powerful market insights and delivers solid buy/sell signals.
The indicator is based on both volume and market volatility and appears in a separate chart window underneath the main chart.
- It consists of colored bars that oscillate above and below the neutral 0.00 level.
- Blue colored bars indicate a bullish trend while red colored bars a bearish trend.
- Yellow colored bars display market volume.
The following indicator inputs can be modified to suit your preferences: volatility period, volatility method, volume period, volume method, zone period and zone method.
Make yourself familiar with this solid technical indicator and test it first on a demo account.
It supports all time frames and Forex pairs.
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The following chart shows how the Directional Volatility & Forex Volume Signal indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Directional Volatility & Forex Volume Signal Indicator?
Find a simple trading example below:
- A bullish signal occurs when the first blue bar appears on the chart.
- Open a buy transaction and place your stop loss 3 pips below previous swing low support.
- Close the buy trade for a fixed take profit target or wait for a sell signal.
- A bearish signal occurs when the first red bar appears on the chart.
- Open a sell transaction and place your stop loss 3 pips above previous swing high resistance.
- Close the sell trade for a fixed take profit target or wait for a buy signal.
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Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the Directional volatility & volume_0.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration