Synthetic Volatility Index Indicator Download for MetaTrader 4 - Free - [TFlab] - MT4/MT5 Resources
The Composite Volatility Index (SVI) indicator is designed to measure market volatility among MetaTrader 4 indicators . This oscillator monitors price fluctuations and visualizes market movements.
The SVI oscillator first determines the highest closing price within a 22-candle period , and then subtracts the lowest price for the same period.
The result is then divided by the highest closing price of the same 22-period and multiplied by 100 to adjust the ratio.
Indicator specification table
The table below summarizes the key features of the technical composite VIX indicator.
| Indicator categories: | MT4 Oscillator Indicator MT4 Volatility Indicator Trading Aid MT4 Indicator |
| Platforms: | MetaTrader 4 Indicators |
| Trading Skills: | Intermediate |
| Indicator Types: | MT4 Indicator Range Reversal MT4 Indicator |
| Time frame: | Multi Time Frame MT4 Indicators |
| Trading Style: | Intraday MT4 Indicators |
| Trading Tools: | Forward Markets MT4 Indicators Stock Market MT4 Indicators Cryptocurrency MT4 Indicators Forex MT4 Indicators |
Indicators at a glance
This MetaTrader 4 oscillator does not directly provide buy or sell signals, but rather shows current market volatility . If the VIX value is below 1 , it indicates a price increase . Conversely, when VIX is above zero , the price tends to decline .
Indicators are in an upward trend
When the blue oscillator line moves downward , the probability of a price increase rises.
Traders can use this indicator in key areas, such as Order Blocks or Breaker Blocks , to identify entry points .
Indicators are in a downward trend
On the 30-minute time frame, the GBP/JPY pair price range moves within a consolidation zone.
The blue indicator line begins to form an upward trend and the price falls after a certain period of time . Exit opportunities are created as the blue line reaches a low value in the oscillator window.
Indicator Settings
The image below shows all parts of the composite VIX indicator setup :
- Period: defines the calculation period of candles in the indicator
Conclusion
The Composite VIX oscillator is most effective in range-bound markets or uncertain market conditions .
When prices fluctuate within a narrow range and the probability of a breakout increases , this indicator evaluates the strength of the trend and the likelihood of a breakout .
Beyond Forex , this indicator also performs well in the cryptocurrency market and other tradable assets .
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