Volume Break Oscillator MT4
- Indicators
- Version: 1.0
- Activations: 5
Volume Break Oscillator is an indicator that matches price movement with volume trends in the form of an oscillator.
I wanted to integrate volume analysis into my strategies but I have always been disappointed by most volume indicators,
such as OBV, Money Flow Index, A/D but also as Volume Weighted Macd and many others.
I therefore wrote this indicator for myself, I am satisfied with how useful it is, and therefore I decided to publish it on the market.
Main features:
It highlights the phases in which the price moves in a direction supported by an increase (break) in volumes.
It highlights the phases in which the volume boost stops and therefore the market contracts.
It highlights the phases in which, especially in intraday trading with timeframes (<=15 minutes), neither prices nor volumes move so the market is ready for a future break.
Filter false signals from other Expert Advisors when they are not supported by a volume break.
It makes it very easy to visualize trend and range phases
Input parameters:
Calculation settings:
- Calculation Type: FAST, NORMAL, SLOW, to monitor short, medium and long term, remaining in the same timeframe.
- Calculation Period: Period of Calculation
Volume Settings:
- Volume Type :TickVolume (mainly for Forex) and RealVolume (for stock market)
Signal Settings:
- Signal Period: Period of Signal Line
- Break Level : Threshold level for breakout signal
Alert settings:
- Alert Type : At close bar or Instant
- Alert
- Notification
- Reset Alert : At the end of increase of volumes (gray bar) or At contrary signal
Buffer number to recall in the EA:
0 - Histogram
1 - Histogram Up
2 - Histogram Dn
3 - Signal Line Up
4 - Signal Line Down
