exvol indicator
Info
The exvol indicator is a Script for MetaTrader 4 that the exvol indicator calculates the difference between the sums of the lengths of the bodies of ascending and descending candles over a specified period. a level of 0 on the indicator signifies that the sum of ascending and descending candles is equal.
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 exvol 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
the exvol indicator calculates the difference between the sums of the lengths of the bodies of ascending and descending candles over a specified period.
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: notches indicator - another powerful script for MetaTrader 4 traders.
the exvol indicator calculates the difference between the sums of the lengths of the bodies of ascending and descending candles over a specified period.Also recommended: high n indicator - similar script with strong performance on MetaTrader 4.
a level of 0 on the indicator signifies that the sum of ascending and descending candles is equal.
typically, crossing the zero mark from bottom to top signals the beginning of an upward movement, and conversely, for a downward movement.
the indicator can also be used to signal the closing of a position if its value begins to approach zero.
exvol
You may also like: order information indicator - excellent alternative for script users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property indicator_separate_window
#property indicator_minimum -100
#property indicator_maximum 100
#property indicator_buffers 3
#property indicator_color1 black
#property indicator_color2 blue
#property indicator_color3 red
extern int experiod = 15;.......
⚠ 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.