Normalized Volume is an indicator whose main purpose is to filter false signals which occur in the side movement of the market.
The basis of the strong side of the Normalized Volume indicator is a work with the volume and price, and a theory that occurrence of strong trend movements is, as a rule, supported by increase of the market volume. Therefore the Normalized Volumе indicator has low and high volume filtering.
The signal to open position occurs above the horizontal line “1”, the price movement is strong enough and the breakthrough can be considered as true.
The principles of the Normalized Volume indicator are particularly useful in the breakthrough or rollback strategies, as they allow to go away from the unnecessary losses.
The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article “Averaging price series for intermediate calculations without using additional buffers”.
MT5 Indicator – Download Instructions
Normalized Volume is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
Normalized Volume 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 Normalized Volume.mq5?
- Download Normalized Volume.mq5
- Copy Normalized Volume.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 Normalized Volume.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator Normalized Volume.mq5 is available on your Chart
How to remove Normalized Volume.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: