Price Volume Open Interest Indicator Mt4
The built in mt4 volume indicator is probably one of the most unappreciated free tools that many don t even know how to use.
Price volume open interest indicator mt4. The indicator is ready for use and does not require special settings. Just drag the indicator onto the chart and select a color scheme. Volume open interest indicator mt4.
There is a common understanding among forex traders that volumes in the currency exchange market are not measurable as there is no central exchange like with stocks for example. When open interest put values becomes greater than open interest call values the indicator color is red color of short position if call becomes greater than put it s blue color of long position. Open interest an indicator that displays a graph of the total amount of opened long and short trades or in other words the total volume of opened orders in the market.
Types of charts include change over time part to whole correlation and distribution. The color deep and brightness corresponds to the quantitative ratio of the open interest to its maximum level for this date so now the level strength is more visual. The volume by price indicator for metatrader 4 and 5 platforms is a data visualization tool used to display the complex relations between volume price and time in various easy to interpret forms.
The color deep and brightness corresponds to the quantitative ratio of the open interest to its maximum level for this date so now the level strength is more visual.
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