The ExVol calculates the difference between the total sum of bodies of growing and falling candlesticks on a given interval in points.
The 0 level of the indicator means that the amount of growing and falling candlesticks is equal. Typically, the zero mark crossed upwards signals the beginning of the upward movement, and mark crossed downwards is a signal of the beginning of a downward movement. The indicator also can be used as a signal to close the position, if its value begins to approach zero.
This indicator was first implemented in MQL4 and published in CodeBase on 22.12.2006.
MT5 Indicator – Download Instructions
ExVol is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
ExVol 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 ExVol.mq5?
- Download ExVol.mq5
- Copy ExVol.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 ExVol.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator ExVol.mq5 is available on your Chart
How to remove ExVol.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: