Scaled Volume Oscillator Download for MetaTrader 4 – Free – [TFlab] – MT4/MT5 Resources

The Scale Volume Oscillator is considered one of the effective tools in technical analysis , displaying trading volume using various averaging methods such as SMA , EMA , and SMMA .

This indicator uses an exponential moving average (EMA) to simplify volume changes , with its range centered on the zero line , revealing to traders an increase or decrease in volume.

Scale Volume Oscillator Specifications

The following table summarizes the key features of this indicator:

Indicator Overview

In this MetaTrader 4 indicator , market direction is determined by the Moving Average line . Additionally, traders can adjust the oscillator's moving average to display linear or histogram patterns to easily observe the volume changing from low to high or vice versa.

Indicators in a Bullish Trend

In the Scaled Volume Oscillator , when the Exponential Moving Average (EMA) line moves above the zero level , this shift signals a bullish trend .

In such cases, trading volume usually increases , indicating market purchasing power is strong .

Indicators in a Bearish Trend

In the chart below, the exponential moving average (EMA) line remains above zero . As the price declined, the oscillator line broke below the zero level .

Under these conditions, trading volume decreases , intensifying the bearish trend . These changes indicate increasing downward momentum and continued price cuts.

Check the volume oscillator setting

The image below shows the detailed settings panel of this indicator:

• Volume: Transaction volume within a specified period
• Type: Data type
• Averaging method: moving average method
• Depth of the first averaging stage: Depth of the first averaging stage
• Depth of the second averaging phase: Depth of the second averaging phase
• Depth of the third averaging stage: Depth of the third averaging stage
• Smoothing parameters: Smoothing parameters
• Horizontal movement of the indicator (represented as bars): Horizontal movement of the indicator on the chart

Conclusion

The Volume Indicator is an analytical tool for the MetaTrader 4 platform , specifically designed to display trading volumes in financial markets, such as Forex . Using the Exponential Moving Average (EMA) , the indicator dynamically presents volume fluctuations .

It evaluates the volume of each candlestick or bar and smooths the changing EMA via EMA, providing a clearer insight into market activity.