Average Volume (Volume Forecast) - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources

The indicator is displayed in a separate window "tick volume " or " real" Volume "Volume" and its historical average. The average value of the volume is used to plot a forecast of the current and subsequent days' volume values.

The average volume is calculated based on the day of the week, i.e. Monday's volume is averaged over the previous Monday's volume, Tuesday's volume is averaged over Tuesday's volume, and so on.

Set the average number of weeks and the type of displayed volume in the indicator input parameters. The number of averages used can be different from the number specified in the parameter. If the terminal lacks data for a specified average number of weeks, for example, if "insufficient values" exceed the maximum bar exist chart " terminal parameter setting, the number of averages can be significantly less than the specified number.

Place your mouse pointer over the average row to see the actual average number of weeks. In this case, the number of weeks successfully used for averaging will be specified in the tooltip.

The mean line can additionally be processed by a median filter. It should also be taken into account that there is a risk of smoothing out some important peaks. By default the median filter is disabled.

If the quote provider does not change the parameters of the algorithm during the entire averaging time, it will be obvious if the current volume is significantly smaller or larger than the average. This situation can be viewed as a decrease or increase in market activity relative to the average.

In addition to this, when applying a neural network, you can try to learn using not only the previous values, but also the predicted volume values.

Attachment download

📎 averagevolumes_v2.mq5 (5.83 KB)

Source: MQL5 #1603