positive negative volume
Info
The positive negative volume is a Indicator for MetaTrader 5 that this oscillator indicator displays volumes taking into account the direction of the candlestick. if a candlestick is bullish, then the positive histogram of the volume appears, on bearish candlesticks the histogram is negative.
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 positive negative 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.
What this tool does
this oscillator indicator displays volumes taking into account the direction of the candlestick.
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: Positive Volume Index (PVI) - another powerful indicator for MetaTrader 5 traders.
this oscillator indicator displays volumes taking into account the direction of the candlestick. if a candlestick is bullish, then the positive histogram of the volume appears, on bearish candlesticks the histogram is negative.
Also recommended: Negative Volume Index (NVI) - similar indicator with strong performance on MetaTrader 5.
candlestick direction calculation type is set by the only adjustable parameter:calculation method
- calculation method
price
- calculation using the candlestick open/close
heiken ashi
- calculation using the heiken ashi candlestick method
fig.1. calculation using open/close
fig.2. calculation using heiken ashi
You may also like: negative volume index ht f - 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.