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.
Key Takeaways
- 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.
Download This MT4 Forex Indicator Free
Download the “buy-sell-volume-indicator.ex4” Metatrader 4 indicator
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.
Download This Forex Indicator Now
Download the “buy-sell-volume-indicator.ex4” MT4 indicator
Adjustable Parameters
Nil.
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
Installation
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.
