Normalized_Volume_Oscillator - MetaTrader 5 script - MQL5 #16030
Vadim Shumilov
This indicator is a development of the idea of using the indicator Normalized Volume .
First, the normalized volume value is now expressed as a percentage of the average for the period. Therefore, the data on the chart can now take negative values, which means the market is calm.
Another useful addition is to color the histogram columns according to the value of the normalized volume.
The indicator was originally written in MQL4 and first published in the code base on June 19, 2008.
Figure 1. Normalized_Volume_Oscillator indicator
Attachment download
📎 normalized_volume_oscillator.mq5 (7.29 KB)
Source: MQL5 #16030
Normalized_Volume_Oscillator - MetaTrader 5 Script - MQL5 #16030 Usage and Filtering Advice
Normalized_Volume_Oscillator - MetaTrader 5 Script - MQL5 #16030 is a resource related to foreign exchange indicators. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based only on titles or short-term profit descriptions.
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