Bull Bear Volume Indicator Mt4
Many do this by means of a single indicator that gauges momentum both bullish and bearish.
Bull bear volume indicator mt4. Unfortunately the standard volumes mt4 indicator doesn t always meet the expectations of traders so we offer you to download an alternative indicator of volumes called better volume. On the chart below you can see i have added both mt4 indicators to one indicator window. The bars are horizontal and shown on the left side of the chart to correspond with these price ranges.
The bars are separated into 2 colors to clearly identify the bull and bear volumes in each price range. 1 corresponding volume bar or histogram on this indicator 2 on the corresponding price candle. Download forex quote spread indicator.
You don t have to do this but i find it easier to look at this way. I want to share with you my volume indicator. To apply both indicators to one window you add one indicator.
Possibility to ad a moving average on it. When the bull line crosses over the bear line i would like to insert a bull text on the. If candle is bull it shows green volume if candle is bear it shows red volume if open close it shows yellow volume.
Could you perhaps further elaborate it by creating another similar indicator that at the start of each horizontal interval identified by any hh hl lh ll coming for ex by a zigzag on price starts to paint an histogram plotting the cumulative volume traded during that swing its shape would appear similar to the histogram of this bull bears indicator you have. 3 vice versa for when the bear line crosses the bull line. Bull bear color normal bull bear color only when current is higher than previous fake auto scale when zooming by doubling the bars.
Some well known trading indicators that work this way include the relative strength index. Bullsbearsvolume indicator for metatrader 5 provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye. Thanks for the indicator.
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