MT4 Normalized Volume Indicator Download - Free | Forex Indicator Download - MetaTrader 4 Resource

The Normalized Volume indicator is a powerful analytical tool for analyzing and comparing current trading volumes with their historical averages.

This trading tool significantly helps traders calculate the strengths as well as weaknesses of price movements. It evaluates trading volume relative to normal volume using histogram bars.

Standardized trading volume indicator specification table

Indicator Overview

The Normalized Volume indicator normalizes trading volume for a specific period and indicates whether trading activity is above or below normal levels.

The histogram bars are blue when the volume is higher than normal volume. In turn, the lower-than-normal volume is represented by orange bars.

Uptrend Conditions

Based on currency pair chart analysis on the GBP/USD 15 minute time frame, the histogram shows highlighted blue bars. In uptrend conditions, the phase of the positive oscillator forming blue bars indicates the beginning of an uptrend .

downtrend conditions

According to the chart cryptocurrency with the symbol Polkadot in the 1-hour time frame, the histogram has formed large blue bars . In a downtrend , the formation of blue bars in the positive phase of the oscillator indicates the beginning of a downtrend .

Indicator Settings

• Calculation Period: The number of candles used to calculate normal trading volume is 14 ;
• Signal Threshold: The threshold for identifying high or low volume is 100.0 ;
• Theme Setting: Indicator theme.

Conclusion

The Normalized Volume Indicator is an analytical tool for trading volume and compares it with the historical average over a specific period. This MT4 Currency Strength Indicator helps traders identify strengths as well as weaknesses in price action.

Volume is visually represented by histogram bars, blue bars indicating higher than normal volume, and orange bars indicating lower than normal volume.