Volume Indicator - page 2
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Kelch Since metatrader does not have normal volumes (only ticks) and since forex volumes can only be roughly estimated, probably the use of any volume related indicators in forex is very, very limited
And about this indicator?
pvi_mtf.mq4
I'm testing it with FPSprice in M1chart and entering only when the price is out of bands and when the pvi shows divergence. I'm entering fast with 20/30 pips marging per trade. I'm exiting when the PVI shows divergence in opposite path of the trend I was entered.
I'm using the PVI mtf version in 15M, 5M and 1M to have a big view of the market too.
Seems to be too much accurate than the OBV indicator. I'm testing since yesterday and I did more than 20 trades until now with no negative balance in operations.
I was comparing the pvi with the obv and while the obv is showing a constant divergence in some big market movement, the pvi shows a reversal point or a lower reversal movement, than more accurate.
See:
the obv says that there is some probably reversion, but not "when" this will happen. The pvi says.
I already saw this indicator in other plataform (I think was trade interceptor but I'm not sure) and there are the 3 indicators: PVI,NVI and PVT and remember that works very well there. Maybe it could be some powerfull trio in mt4 and help to trade by volume changes.
What do u think sir?
And about this indicator?
pvi_mtf.mq4
I'm testing it with FPSprice in M1chart and entering only when the price is out of bands and when the pvi shows divergence. I'm entering fast with 20/30 pips marging per trade. I'm exiting when the PVI shows divergence in opposite path of the trend I was entered.
I'm using the PVI mtf version in 15M, 5M and 1M to have a big view of the market too.
Seems to be too much accurate than the OBV indicator. I'm testing since yesterday and I did more than 20 trades until now with no negative balance in operations.
I was comparing the pvi with the obv and while the obv is showing a constant divergence in some big market movement, the pvi shows a reversal point or a lower reversal movement, than more accurate.
See:
the obv says that there is some probably reversion, but not "when" this will happen. The pvi says.
I already saw this indicator in other plataform (I think was trade interceptor but I'm not sure) and there are the 3 indicators: PVI,NVI and PVT and remember that works very well there. Maybe it could be some powerfull trio in mt4 and help to trade by volume changes.
What do u think sir?Kelch
There is one very simple test that you can do. Turn on the volumes on chart and choose any symbol (any symbol at all) and chose 1 hour time frame. What you will see is that regardless of the symbol, the "volumes" are forming almost the same "pattern" on every chart. It is simply showing what we all already know : that the activity starts to raise with the beginning on London session and slows down with the end of US session.
That is one of the reasons that why I told that ticks have very limited usage in forex (and metatrader) Simply because they are not showing anything that we already do not know and what we actully can not use too much in our calculations
Kelch
There is one very simple test that you can do. Turn on the volumes on chart and choose any symbol (any symbol at all) and chose 1 hour time frame. What you will see is that regardless of the symbol, the "volumes" are forming almost the same "pattern" on every chart. It is simply showing what we all already know : that the activity starts to raise with the beginning on London session and slows down with the end of US session.
That is one of the reasons that why I told that ticks have very limited usage in forex (and metatrader) Simply because they are not showing anything that we already do not know and what we actully can not use too much in our calculationsYes, I know, I saw since yesterday till now in big TF, but to use in little TF like 1M or 5M and do scalping, as I'm doing since yesterday, isn't a good tool?
Yes, I know, I saw since yesterday till now in big TF, but to use in little TF like 1M or 5M and do scalping, as I'm doing since yesterday, isn't a good tool?
Kelch
As far as I am concerned I think that Marney volume indicator can explain almost everything we need to know about volumes in forex. Some more information about the Marney volume indicator you can find here : https://www.mql5.com/en/forum/179807/page16 or here https://www.mql5.com/en/forum/182040
It is showing the high predictability of "volumes" in forex with simple calculation ways regardless of the time frame it is applied to. If the "volume" is predictable with such a high accuracy then it means that "volume" is simply reflecting the cyclical nature of the market, nothing else (I know that a lot of people will disagree with me on this point, but that is my opinion regrading volume and forex)
Kelch
As far as I am concerned I think that Marney volume indicator can explain almost everything we need to know about volumes in forex. Some more information about the Marney volume indicator you can find here : https://www.mql5.com/en/forum/179807/page16 or here https://www.mql5.com/en/forum/182040
It is showing the high predictability of "volumes" in forex with simple calculation ways regardless of the time frame it is applied to. If the "volume" is predictable with such a high accuracy then it means that "volume" is simply reflecting the cyclical nature of the market, nothing else (I know that a lot of people will disagree with me on this point, but that is my opinion regrading volume and forex)Well, i don't know this indicator but I agree with you about reflecting the cycling. This is why I liked the PVI in many tf on the 1Mchart.
I'll read it about marney volume now.
many thanks!
Indicators : HighVolumeBar_VerticalHistogram & HighVolumeBar_VerticalHistoGrame_v2 from MQLabs
Indicators : HighVolumeBar_VerticalHistogram & HighVolumeBar_VerticalHistoGrame_v2 from MQLabs
Few more Volume indicators from the same site, MQLabs
Volume Signals
Bear Bull Balance
Volume By Last Day Median
Someone knows if there are something like to "Jigsaw Trading" (propietary, for NinjaTrader), developed for MT4 ?
J.P.
Someone knows if there are something like to "Jigsaw Trading" (propietary, for NinjaTrader), developed for MT4 ? J.P.
You can not have it in metatrader - simply metatrader 4 (and 5) are lacking real volume data and level 2 data
Hello Mladen My broker sends me level 2 data (yes mt4). But it is visible only on their EA in the form of quickly moving numbers (short/long/level/volume of position). In this form it is not usable. But they also give api which helps to utilize that data. The little difficulty is that I'm not coder (yet). Do you think it's worthy looking at?