Relative Volume is one of rare attempts to show real volumes of cash flow passing through the exchange market.
The indicator's computation algorithm is based on:
- Statistics published by the Bank for International Settlements triennially
- Information about volatility of currency pairs for the last 5 days
- Average true range for the last 5 days
- Tick volume for the previous trading day
The indicator displays billions of USD.
Warning! The indicator works with pairs consisting of two currencies listed below:
- AUD - Australian Dollar
- CAD - Canadian Dollar
- CHF - Swiss Franc
- EUR - Euro
- GBP - Great Britain Pound
- JPY - Japanese Yen
- NZD - New Zealand Dollar
- USD - US dollar
P.S. Values of Relative Volume MT4 may differ as dealing centers and brokers provide different information about tick volumes.