Bulls Bears Volume
This professional-grade solution for MetaTrader 5 helps traders achieve greater efficiency in their daily workflow. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Bulls Bears Volume
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
Description & Settings
The indicator is based on the indicators' code of
MetaQuotes Software Corp.
Bears.mq5 and Bulls.mq5.
Indicator values are calculated by the following scheme:
Bull >0 and Bear>0 => Ind= Bull – Bear Bull <0 and Bear<0 => Ind= Bear- Bull (Bull <0 and Bear>0 ) or (Bull >0 and Bear<0 ) => Ind= Bear+Bull
The received Ind value multiplies on the coefficient of volume. The volume can be as tick, so real (set in input parameters). Then if the delta i.e. flat noise level is set, all the indicator values less than zero are set to zero.
The example 1. The work of the BullsBearsVolume indicator at EURUSD H1
The example 2. The work of the BullsBearsVolume indicator at EURUSD H1
The window of the indicator parameters setting.
