VFO - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
The indicator VFO (Volume Oscillator) is based on the standard indicator OBV (On Balance Volume). This was described in the June 2004 issue of Technical Analysis of Stocks and Commodities magazine.
Its value above zero is bullish and indicates accumulation, while its value below zero indicates a distribution.
Divergence between price and indicator values may indicate an imminent change in trend.
This indicator has four configuration parameters:
Attachment download
📎 vfo.mq5 (19.79 KB)
Source: MQL5 #21169
VFO - MetaTrader 5 script | Forex indicator download - MT4/MT5 resource usage and screening suggestions
VFO - MetaTrader 5 script | Foreign exchange indicator download - MT4/MT5 resources are foreign exchange indicator related resources. 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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