Hidden Gap Volume Indicator Download for MetaTrader 4 | Forex Indicator Download - MT4/MT5 Resources

The Hidden Gap Volume indicator in the MetaTrader 4 platform first calculates the average volume of the last 20 candles , then draws a band around the oscillator bar based on two standard deviations .

Next, each volume bar in the oscillator is categorized based on comparison to previous volume and deviation bands and displayed in a specific color:

• Red : the bar with the lowest volume within the range
• Yellow : Volume is lower than the previous candle
• Purple : volume is lower than the previous two candles
• Blue : Volume is higher than the previous candle
• Brown : volume bars that exceed the deviation band
• Green : bars that exceed the band but have lower volume than the previous bar

Hidden gap volume specification table

The table below shows the Hidden Gap Volume indicator :

Indicator Overview

In the Hidden Gap Volume Indicator , yellow and purple bars indicate volume confirming weakness (hidden gap) in the direction of the trend. Brown bars detect overbought or oversold areas .

This color coding can help traders quickly identify weak trends and potential reversal zones , making it easier to define entry and exit levels for trades.

Uptrend Conditions

The chart below shows the Bitcoin Cash (BCH/USD) pair on the 1-hour timeframe . In an uptrend, the appearance of blue bars indicates strong buying power .

However, if a new high price is formed and the volume bar turns to yellow or purple , a hidden gap exists, meaning price is rising but volume does not match, indicating overbought conditions .

downtrend conditions

The chart below shows the currency pair CHF/JPY on the 15-minute timeframe . Blue bars signal strong selling pressure and the potential to continue lower in the downtrend.

If the price makes a new low and the purple and yellow volume bars show lower values ​​than one or two previous bars, a bullish hidden gap forms, indicating a potential trend reversal to the upside .

Hide gap volume indicator settings

The indicator setting panel Hidden Gap Volume is shown in the figure below:

• Display Bars : Number of candles displayed on the chart
• Look Back : The lookback period used for calculations
• Show MALine : Enable moving average display
• MA Period : The length (period) of the moving average window
• Display StdDevLine : Display the standard deviation boundary line
• Standard Deviation Period : The period used to calculate the standard deviation
• StdDeviation Factor : Multiplier for the standard deviation threshold
• Display ChartSymbol : Display chart symbols and time range labels
• ChartLabel Font : font size of the symbol/time range label
• ChartLabel Color : Label color
• Display Clock : Enable screen clock
• Clock Font : Font size of digital clock
• Clock color : Clock font color
• Show Vol : Display real-time volume
• Vol Font : font size of volume text
• Vol Color : brightness display color
• Show MA : Display the current MA value
• MA Font : The font size currently displayed by MA
• MA Color : Display color of MA value
• Show DEV : Display the current deviation value
• DEV Font : font size of deviation label
• DEV Color : color of deviation value

Conclusion

The Hidden Gap Volume trading tool , by identifying volume-confirmed weaknesses (yellow bars) at tops and bottoms as well as dotted volume saturation zones (brown bars), provides precise entry and exit zones for trades.