Percentage Volume Oscillator (PVO) Indicator for MT4/MT5
Info
The Percentage Volume Oscillator (PVO) Indicator for MT4/MT5 is a Indicator for MetaTrader 5 that the percentage volume oscillator (pvo) is a momentum indicator based on volume. It calculates the difference between two moving averages of volume, expressed as a percentage.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Percentage Volume Oscillator (PVO) Indicator for MT4/MT5
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.
What this tool does
The Percentage Volume Oscillator (PVO) is a momentum indicator based on volume.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Compression Breakout Channels with Buy and Sell Volume Analysis - another powerful indicator for MetaTrader 5 traders.
The Percentage Volume Oscillator (PVO) is a momentum indicator based on volume.Also recommended: Daily Profit/Loss Percentage Overlay for Prop Firm Daily Loss Limits - similar indicator with strong performance on MetaTrader 5.
It calculates the difference between two moving averages of volume, expressed as a percentage.
The indicator features ten configurable parameters:
- Show Histogram: Toggles the display of the histogram.
- Show PVO: Toggles the display of the PVO line.
- Show Signal: Toggles the display of the signal line.
- Fast MA Period: Sets the period for the fast moving average.
- Fast MA Method: Selects the calculation method for the fast moving average.
- Slow MA Period: Sets the period for the slow moving average.
- Slow MA Method: Selects the calculation method for the slow moving average.
- Signal Period: Sets the period for the signal line calculation.
- Signal Method: Selects the calculation method for the signal line.
- Calculation Mode: Determines whether calculations are in absolute or relative values.
Calculation Mode Details:
Absolute: Calculations are performed using absolute volume values.
Relative: Calculations are performed using relative volume values.
Where:
Volume - Tick volume.
This indicator was updated for 2026.
You may also like: Simple Anchored VWAP - Institutional Volume Benchmark - excellent alternative for indicator users on MetaTrader 5.
Source Code
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⚠ 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.