The Price Volume Trend Oscillator indicator is a useful tool for forex traders who use the MT5 platform. It is a popular indicator among traders as it provides valuable insights into price movements based on volume changes. This indicator is free to use, making it accessible to all levels of traders. The Price Volume Trend Oscillator works by calculating the difference between two exponential moving averages of volume and price, and then plotting this difference as an oscillator. When the indicator is above the zero line, it suggests that the volume is increasing in relation to price movements, signaling a potential bullish trend. Conversely, when the indicator is below the zero line, it indicates that volume is decreasing relative to price, suggesting a bearish trend. Traders can use the Price Volume Trend Oscillator to confirm trends, identify potential reversals, and make informed trading decisions based on volume analysis.
MT5
Price Volume Trend Oscillator
The Price Volume Trend Oscillator Indicator for MT5 is a useful tool for forex traders. This popular indicator is free to use and helps traders analyze the relationship between price movement and volume. By showing the strength of price momentum, traders can make informed decisions about market trends. To use the indicator, simply observe the direction of the line and look for confirmation signals to guide your trading strategy.
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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:
Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.
Open the MT4/5 terminal and click on “File” in the top left corner.
Select “Open Data Folder” from the dropdown menu.
In the window that opens, double-click on the “MQL4/5” folder.
Double-click on the “Indicators” folder.
Drag and drop the indicator file from your computer into the “Indicators” folder.
Close the data folder window and restart the MT4/5 terminal.
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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