The Cumulative Volume Metatrader 5 custom indicator offers a thought-provoking technique for presenting volume data.
It displays the total volume over the specified period.
Volume data can be represented in a lot of ways:
Combined | Absolute | Relative | Separated | Absolute Relative
Volumes can be shown in relative or absolute values, as well as in combined or a separated manner.
There are three input parameters found on the Cumulative_Volume MT5 indicator:
Period – defines the calculation period;
Combined – show data either in a combined or in a separated way (with an option to select Yes/No);
Relative – display data either in a relative or an absolute manner (with an option to select Yes/No).
The Cumulative_Volume MT5 indicator is an oscillator with histograms within a dedicator window.
The histograms are colored lime green and red.
Green histograms are indicator of bullish market sentiments, while red histograms suggests bearish market sentiments.
If the histograms are aligned above the zero center line, it is a signal that more buyers are pushing price higher, while a red histogram above the zero center line indicates a short term retracement within the broader bullish trend.
If the histograms of the Cumulative_Volume MT5 indicator hover below zero center line, it is a signal that more sellers are driving price lower, while a lime green histogram is a trigger that bulls are holding up the session within a broader bearish trend.
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart window indicator
Customization options: Variable (Period, Combined, Relative), Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the Cumulative_Volume.ex5 indicator into the MQL5 indicators folder of the Metatrader 5 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL5 > Indicators (paste here)