Volume MA with Candle Color Tracking - MetaTrader 5 Script | Forex Indicators Download - MT4/MT5 Resources
This is a classic indicator that plots moving averages based on volume (quote volume) rather than price. Histogram bars depicting volume are colored according to the price bar.
This is the MQL4 conversion, the original old code can be found here: https://www.mql5.com/en/code/25462
Quotation volume breaking above the moving average may indicate increased participation - indicating a strong trend or choppy movement.
Quotation volume remaining below the moving average could indicate lower liquidity, meaning the market is quieter or consolidating.
Attachment download
📎 UPDN_Volume_MA.mq5 (5.94 KB)
Source: MQL5 #58562
Volume MA with candle color tracking - MetaTrader 5 script | Forex indicator download - MT4/MT5 resource usage and screening recommendations
Volume MA with Candle Color Tracking - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 resources are Forex indicator related resources. 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 on titles or short-term profit descriptions.
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