The Hawkeye Volume Forex indicator for Metatrader 4 displays green/red/white volume bars in a separate chart window.

In essence, the indicator measures market volatility and works for any currency pair and time frame.

How it works?

  • A green volume bar appears when the candlestick is bullish.
  • A red volume bar appears when the candlestick is bearish.

From our testing, the indicator does not repaint and works for any currency pair and time frame without slowing down the trading platform.

It can be used as a standalone technical tool or it can be combined with other technical indicators and trading systems.

Try first on a demo account until you fully understand how this indicator works!

Free Download

Download the hawkeye-volume-indicator.mq4 indicator file (MT4)

Indicator Chart Example

The picture above shows the indicator attached to the Euro / U.S. Dollar chart.

How to install the Hawkeye Volume indicator to your Metatrader 4 platform?

  • Download the hawkeye-volume-indicator.mq4 indicator file here and save it to your computer
  • Open your Metatrader 4 platform
  • Click on “File” (top menu) and then select “Open Data Folder” from the drop down menu
  • Click on “MQL4” and open the “Indicators” folder
  • Paste the indicator file in this folder
  • Restart Metatrader 4 and you’re ready to start using the indicator

How to edit the indicator?

  • Attach the indicator to any trading chart of your preference
  • Right click in the chart and select “Indicators List” from the drop down menu
  • Select the indicator from the list and click on “Edit”
  • Now you can start editing the indicator (Inputs, Colors and Visualization)
  • Final step, click on the “OK” button to save the new configuration