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Cumulative Volume

The Cumulative Volume indicator for MT5 displays the total volume of trades in the market.  It works by summing the volume bars over the selected time frame to provide valuable insights.

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Description

The Cumulative Volume indicator for MT5 is a Forex technical indicator that analyzes the cumulative volume flow between the bulls and bears in the financial markets. It displays the sums of the trading volume over a period, which enables traders to make informed trading decisions.

Therefore, the indicator is an incredible trading tool that can help traders determine the strength and probable direction of the market at a glance. A high cumulative volume during an uptrend suggests a strong bullish market condition, while a high volume in a downtrend depicts a strong bearish market condition.

Conversely, low cumulative volume in an uptrend/downtrend suggests weak bullish or bearish trend conditions, respectively.

Features of the Cumulative Volume Indicator for MT5

The indicator uses histogram bars to depict the rise and fall in the cumulative volume of an instrument. The green bars indicate the bulls’ volume, while the red bars are the bears’ volume. So, the histogram bars above the zero line suggest bullish sentiment, while bearish sentiment is when the bars are below zero.

Benefits of Using the Indicator

  • Trend Confirmation: The indicator tracks the cumulative volume in the market; thereby enabling traders to determine the market trend direction with precision.
  • Early Market Reversal: The indicator can help traders detect potential trend reversal signals in the market. For example, if the indicator’s histogram bars cross below zero while the trend is bullish, it might indicate an early sign of a trend reversal to the downside.
  • Confluence: Finally, the indicator can enhance trend analysis and trade execution when used in conjunction with price action/other technical indicators.

Indicator Settings Description

The indicator comes with the following customizable settings:

Period: Determine the incubator’s period for volume analysis.

Combined: Enables/Disables the display of bullish and bearish cumulative volume.

Relative: Defines how the cumulative volume is displayed.

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How to Install

How install MT4/5 indicator in the terminal?

To install an MT4/5 indicator in the terminal, follow these steps:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.

Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.

And if asks to confirm DLL?

If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.

DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.

If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.

It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.

 

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