The indicator is based on the indicators’ code of MetaQuotes Software Corp. Bears.mq5 and Bulls.mq5.
Indicator values are calculated by the following scheme:
Bull >0 and Bear>0 => Ind= Bull – Bear
Bull <0 and Bear<0 => Ind= Bear- Bull
(Bull <0 and Bear>0 ) or (Bull >0 and Bear<0 ) => Ind= Bear+Bull
The received Ind value multiplies on the coefficient of volume. The volume can be as tick, so real (set in input parameters). Then if the delta i.e. flat noise level is set, all the indicator values less than zero are set to zero.
MT5 Indicator – Download Instructions
BullsBearsVolume is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
BullsBearsVolume provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install BullsBearsVolume.mq5?
- Download BullsBearsVolume.mq5
- Copy BullsBearsVolume.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on BullsBearsVolume.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator BullsBearsVolume.mq5 is available on your Chart
How to remove BullsBearsVolume.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator: