Volume RV indicator download for MetaTrader 4 | Forex indicator download - MT4/MT5 resources

The Volume RV indicator is one of the practical tools for volume traders who analyze market volume based on it.

This indicator is specially designed for the MetaTrader 4 platform. By providing 7 different trading volume indicators, Forex traders can perform more professional analysis directly on their trading charts.

Volume RV indicator

Information related to the Volume RV indicator is provided below.

RV volume indicator at a glance

The Volume RV indicator is a specialized tool used by technical traders to help identify market trends through volume analysis.

This indicator works in conjunction with the signal line: when volume is above or below the line, buy and sell signals are generated, alerting traders to new trading opportunities.

In addition, the user can choose from 7 different volume indices for calculation:

• AD
• BWMFI
• FORCE
• MFI
• OBV
• WRP
• Volumes

Uptrend in RV Volume Indicator

On the 4-hour XAU/USD chart, the Volume RV indicator is applied. This tool allows traders to analyze trading volume and combine it with their volume strategies to better determine market direction.

When an uptrend forms and indicators generate buy signals, traders can open long positions.

RV Volume Indicator Trends Downward

On the 1-hour chart of NZD/USD, the price is in a downward trend and trading volume is also decreasing. By applying the Volume RV indicator, traders can identify bearish market conditions and open short positions when a sell signal is triggered.

Volume RV indicator settings

The settings for the volume RV indicator are provided below:

• History: The number of candles used for historical calculations;
• Calculation: Select 7 indices based on trading volume for calculation (AD, BWMFI, MFI, OBV, WRP, trading volume, FORCE);
• Reverse: Enable/disable reverse mode; if enabled, the value will be multiplied by -1 and displayed in reverse on the chart;
• Period: defines the calculation period;
• Method: Define the calculation method;
• Applied Price: Define the price basis for calculation;
• Draw Histogram: Enable/disable display as histogram or line;
• Signal Period: Define the calculation period of the signal line;
• Signal MA Method: Define the moving average method of the signal line;
• Show Signal Line: Enable/disable signal line display;
• Arrow Gap: defines the distance between the signal and the candle;
• Arrow Size: Define the size of the signal arrow;
• Buy Arrow Color: Set the color of the buy signal arrow;
• Sell ​​Arrow Color: Select the color of the sell signal arrow;
• Buy Arrow Code: MQL code that defines the buy signal arrow;
• Sell ​​Arrow Code: Set the MQL code of the sell signal arrow;
• Message Alert: Enable/disable alerts as messages when a signal occurs;
• Sound Alert: Enable/disable sound alert when signal occurs;
• Email Alert: Enable/disable email alerts when a signal occurs;
• Sound File: Define the alarm sound file.

Conclusion

The Volume RV indicator is a valuable tool for Forex and Forex trading. Crypto traders rely on the volume oscillator for chart-based analysis.

This indicator has 7 volume indices and a moving average as signal line, which helps generate buy and sell signals to provide traders with better trading opportunities.