Volume Area Oscillator - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
Indicator based on "In The Volume Zone" article by Walid Khalil and David Steckler.
The axioms of technical analysis state that, with few exceptions, all technical indicators can be classified as trending or oscillating (non-trending) in their design. This new indicator, the Volume Zone Oscillator (VZO), solves both problems. In his book Technical Analysis of Financial Markets, John J. Murphy explains that using oscillators has three benefits:
Attachment download
📎 volume_zone_oscillator.mq5 (5.56 KB)
Source: MQL5 #21550
Volume Area Oscillator - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
Volume Area Oscillator - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 resources are resources related to Forex indicators. 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 only on titles or short-term profit descriptions.
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