price volume divergence
Info
The price volume divergence is a Indicator for MetaTrader 5 that indicator price volume divergence compares the sizes and volumes of the current bar and of the preceding bar and, provided that there is a difference between them, places signal pointers. it has five adjustable parameters:use alerts- use alertssend push-notifications- send push notifications to your mobile deviceapplied volume- volume used by the indicatorshow volumes bars- show volumes on the price chartcalculations:if the size of the current candle exceeds that of the preceding one and the volume of the current candle is smaller than that of the preceding one,then this is considered to be the growing divergence and the green signal pointer is place on the candle highif the size of the current candle is smaller than that of the preceding one and the volume of the current candle exceeds that of the preceding one,then this is considered to be the falling divergence and the red signal pointer is placed on the candle low it should be understood that signal pointer do not indicate the dierection of opening a position; they just indicate the type (growing/falling) of the divergences among the sizes and volumes of the current candle and the preceding candle.
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 price volume divergence
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
indicator price volume divergence compares the sizes and volumes of the current bar and of the preceding bar and, provided that there is a difference between them, places signal pointers.
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: Quantora Candle Strength Analyzer MT5: Price Action and Wick Analysis - another powerful indicator for MetaTrader 5 traders.
Also recommended: Footprint X Ray: Advanced Order Flow and Volume Delta Analysis - similar indicator with strong performance on MetaTrader 5.
indicator price volume divergence compares the sizes and volumes of the current bar and of the preceding bar and, provided that there is a difference between them, places signal pointers.it has five adjustable parameters:
use alerts
- use alerts
send push-notifications
- send push notifications to your mobile device
applied volume
- volume used by the indicator
show volumes bars
- show volumes on the price chart
calculations:
if the size of the current candle exceeds that of the preceding one and the volume of the current candle is smaller than that of the preceding one,then this is considered to be the growing divergence and the green signal pointer is place on the candle high
if the size of the current candle is smaller than that of the preceding one and the volume of the current candle exceeds that of the preceding one,then this is considered to be the falling divergence and the red signal pointer is placed on the candle low
it should be understood that signal pointer do not indicate the dierection of opening a position; they just indicate the type (growing/falling) of the divergences among the sizes and volumes of the current candle and the preceding candle.
You may also like: Volume Strength Compass by Bhanu Code Lab - 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.