Summary of "Normalized Volume Indicator for MT4/5 Download - Free - [TradingFinder]"
The video presents the Normalized Volume Indicator available for download on the TradingFinder website for MetaTrader 4 and MetaTrader 5 platforms. This indicator helps traders analyze market volume and trends by displaying Volume Histogram bars relative to a threshold level.
Main Financial Strategies and Market Analysis:
- The indicator identifies main market volumes and trends by using a threshold level.
- When histogram bars rise above the threshold, they turn blue, indicating stronger volume or trend activity.
- Bars below the threshold are orange, signaling weaker volume or trend presence.
- Traders can use this visual cue to perform their own market analysis and make informed trading decisions based on volume strength.
Methodology / Step-by-Step Guide to Use the Indicator:
- Download the indicator file for MT4 or MT5 from the TradingFinder website.
- Open the Navigator section in your MetaTrader platform.
- Drag and drop the indicator file onto your chart.
- Enable the Allow DLL Imports or Allow this import option in the indicator settings.
- Click OK or Confirm to apply the indicator.
- An Oscillator window will appear at the bottom of the chart showing the normalized Volume Histogram.
Customization Options:
- Period Setting: Default is 14, can be adjusted (e.g., 20).
- Signal Threshold Level: Default is 3 ticks, adjustable (e.g., 110).
- Indicator Style/Template: Four options available:
- Auto (default): Changes candle colors (bullish green, bearish red).
- Light: Applies a light template for clarity.
- Dark: Applies a dark template for low light comfort.
- Custom: Keeps your personalized template and applies only the indicator.
- Example settings used in the video: Dark template, signal threshold 110, period 20.
Conclusion:
The indicator is a useful tool for traders to visually assess volume strength and market trends, enhancing their technical analysis capabilities. Users are encouraged to share feedback and suggestions in the comments section.
Presenter/Source:
- TradingFinder (no individual presenter named)
Category
Business and Finance
