The Time Segmented Volume Indicator for Metatrader 5 displays Forex volume on the chart and works for any currency pair.
The indicator shows up in a separate chart window as orange colored volume bars.
At a glance, it reveals both Forex volume and market volatility.
Generally speaking, the market is more volatile when there’s more Forex volume.
In narrow trading markets, Forex volume will be low.
The following inputs can be modified to suit your preferences: summation period, averaging period, applied price and applied volume.
Make yourself familiar with this 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 Time Segmented Forex Volume indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Time Segmented Forex Volume Indicator?
The indicator does not provide any buy/sell signals. Please combine it with short-term trend indicators for best trading results.
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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 Time Segmented Volume.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