The Volume forex indicator for Metatrader 4 displays the volume of each candlestick in a separate MT4 window.
The indicator draws blue and red histogram bars.
Blue histogram bars display uptrending candlesticks (bullish).
In this case, the close price is higher than the open price.
Red histogram bars display downtrending candlesticks (bearish).
In this case, the close price is lower than the open price.
Large volume bars (either blue or red) indicate the volume is strong.
The EUR/USD daily chart below displays the Volume Metatrader 4 indicator in action.
Basic Trading Signals
No trading signals from the Volume forex indicator.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Customization options: Variable (Bars to count, Point settings, Alerts) 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 aliev-fx-volumes.mq4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)