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Euro Fx Vix MT5
Download EVZ Reader (Free) to get the data necessary for this indicator to work correctly
Euro FX VIX Indicator for MetaTrader 5
This volatility indicator is useful to detect dead markets. It's based on the EVZ index, which measures the volatility of the Euro (but can be applied to the Forex Market overall). High values represent high volume/volatility in the market. If it's below 7, volume is low and the risk when trading is greater.
For traders who use the No Nonsense Forex (NNFX) method, this indicator can be useful to backtest algorithms and measure the impact that the EVZ has on them, or just to be able to read it directly in your charts when trading.
-This indicator reads data retrieved by the program EVZ Reader, which is necessary for this indicator to work. If the reader is active in one chart, the EVZ can get updated almost real time.
-Multiple instances of this indicator can be placed in several charts without performance issues.
-The indicator works in the Strategy Tester and its values can be accessed as any other indicator.
-There is no data for the EVZ beyond August, 2008.
-There are some days in which the Forex Market opens, but not the EVZ . In those cases, a flat candle is created with the value of the last EVZ close.
Download the Euro FX VIX for MetaTrader4 here.