Normalized Volume - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources

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Normalized volume is an indicator whose main purpose is to filter out false signals that appear in sideways movements in the market.

The strong side of the Standardized Volume indicator is based on the combination of volume and price, and the theory that the occurrence of strong trending moves is typically supported by increased market volume. Therefore, the Normalized Volume indicator has low volume and high volume filters.

The signal to open a position appears above the horizontal line "1", and the price movement is strong enough to consider the breakthrough established.

The principles of the Normalized Volume indicator are particularly useful in breakout or rollback strategies, as they can avoid unnecessary losses.

The indicator uses the SmoothAlgorithms.mqh library class (must be copied to terminal_data_folder\MQL5\Include). The use of the class "Average price series for intermediate calculations without using additional buffers" is described in detail in the article.

Figure 1 Standardized trading volume indicator

Attachment download

📎 smoothalgorithms.mqh (134.03 KB)

📎 normalizedvolume.mq5 (6.51 KB)

Source: MQL5 #1464