Positive Volume Index - MetaTrader 4 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
This indicator identifies trends in their early stages and can be used to prepare for breakout scenarios.
The indicator depicts the Positive Volume Index (PVI), smoothed by the factor MA_PERIOD (default=2). For comparison purposes, an EMA with period ME_PERIOD (default=10) is also added to the indicator window.
The code is like this. The author assumes no responsibility for any errors or mistakes in the program.
Attachment download
📎 pvi.mq4 (2.91 KB)
Source: MQL5 #10989
Positive Volume Index - MetaTrader 4 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
Positive Volume Index - MetaTrader 4 Script | Foreign Exchange Indicator Download - MT4/MT5 resources are foreign exchange 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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