Forex volume indicator.

A useful tool for understanding forex volume, or more precisely, tracking its changes, which allows one to judge the strength of the current trend. After all, an increase in trading volume has always been considered a confirming factor in favor of the current price.

The volume indicator operates on the principle of an oscillator, comparing the received data with the average statistical values ​​for a given timeframe. This allows for an accurate assessment of the dynamics of the changes that have occurred.

Download the Forex volume indicator.

After downloading, unzip the archive and copy the script file to the trader's terminal folder. The entire process is described in detail on the "Installing the Forex Indicator" page.

After launching the trader's terminal, find the tool in the "Custom Indicators" folder under the name Normalized Volume Oscillator and proceed to installing it on the chart of the currency pair you're working with.

The script is almost completely ready to use; you can only change its range and period if desired.

The oscillator is displayed in a separate window and doesn't interfere with trend monitoring in the main trading terminal window. Data is displayed as multicolored bars, which can be positioned below or above the main line.

This approach is based on the fact that the data is compared with the average Forex volume. If the bars are positioned below the main line, it indicates a significant decline in trading activity.

The bars are colored differently:

Blue – volumes have fallen below the average for the given timeframe.

Green – a slight increase in market activity.

Yellow – the indicator exceeds the average by more than 50%.

White – a significant increase in volume, exceeding 100%.

Testing of this tool has shown its accuracy, and you can verify its effectiveness yourself. To verify the signals, it is recommended to use at least one additional Forex indicator. For information

on using the obtained data in trading, see the article " Forex Volume ."