The Buy Sell Volume Metatrader 4 indicator tracks the number of contracts being traded within a specified time frame.
When the indicator shows a high volume reading, then the market is said to be actively traded.
On the other hand, a low buy sell volume indicator reading shows that the market is less actively traded.
The indicator pops up within a sub-window with green and red lines, which I’ve substituted with blue and magenta.
The rise and fall of the lines can be used to forecast trend direction with 75% accuracy.
- When price continues to surge on a decreasing reading from the Buy Sell Volume MT4 indicator, watch out for a likely trend reversal.
- When price keeps declining on an increasing volume reading from the Buy Sell Volume indicator, market is believed to be gaining momentum for a bear move.
- The Buy Sell Volume indicator is suitable for short-term and long-term trading, considering the fact that volume is frequently viewed as a liquidity gauging tool.
Feel free to explore the Buy Sell Volume MT4 indicator’s different parameters and settings to create your own personalized indicator setup.
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Buy Sell Volume Forex Indicator Chart (GBP/USD M5 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The Buy Sell Volume MT4 Indicator
Buy Signal: Go long when the Buy Sell Volume indicator prints magenta and blue lines that crosses below the lines (red and green) of the Relative Vigor Index indicator.
Sell Signal: Go short when the Buy Sell Volume MT4 indicator prints magenta and blue lines that crosses above the lines (red and green) of the Relative Vigor Index indicator.
Exit buy trade: Close all buy orders if while a bullish trend is running, the lines (magenta & blue) of the Buy Sell Volume indicator intersects the green and red lines of the Relative Vigor Index indicator within the sub-window.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the lines (magenta & blue) of the Buy Sell Volume indicator intersects the green and red lines of the Relative Vigor Index indicator within the sub-window.
Tips: The Buy Sell Volume MT4 Indicator is a handy technical tool that offers a versatile approach in confirming market trends.
When in combination with the Relative Vigor Index, the decision-making process becomes less cumbersome.
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More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: Volume
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.