Average Volume Per Hour Indicator
Info
The Average Volume Per Hour Indicator is a Script for MetaTrader 4 that this indicator calculates the average volume per hour on a 1-hour chart. It is designed to work exclusively on this timeframe, ensuring accurate volume calculations.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Script works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Scripts folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use Average Volume Per Hour Indicator
1. Installation: Move your script file into the MQL/Scripts directory and restart the platform.
2. Execution: Drag the script onto a chart; it will perform a one-time action, such as closing all open orders or clearing chart objects.
3. Editing: Use MetaEditor (F4) to modify code, click "Compile," and verify no errors appear in the terminal before running.
4. Removing: Scripts stop automatically, but you can remove them manually by right-clicking the chart and choosing "Remove Script."
Frequently Asked Questions
Q: How are scripts different from EAs? A: Scripts execute a single action and then stop; EAs monitor the market and trade continuously.
Q: Can I assign a hotkey to a script? A: Yes, right-click the script in the Navigator, select "Set Hotkey," and define your preferred keyboard shortcut.
Q: Why did my script stop? A: Scripts are designed to stop immediately after finishing their programmed command; this is normal behavior.
What this tool does
This indicator calculates the average volume per hour on a 1-hour chart.
Typical Use Case
This Script excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Script works on MetaTrader 4. Place the file in the MQL4/Scripts folder and restart the terminal.
Description & Settings
Related: Moving Average Difference Oscillator - another powerful script for MetaTrader 4 traders.
This indicator calculates the average volume per hour on a 1-hour chart. It is designed to work exclusively on this timeframe, ensuring accurate volume calculations.Also recommended: multi timeframe moving average indicator - similar script with strong performance on MetaTrader 4.
To use, simply drag the script onto a 1-hour chart, and a message box will display the average volume for each hour. This tool can assist traders in identifying high-volume trading times, aiding in strategic decision-making.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property strict
void onstart()
{
if(periodseconds()!=3600)
{
alert(__file__+", script should only be run on the 1hr timeframe");
return;.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.