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Trade volume index indicator

vin_yoga

Member
Dear Friends,

Can anyone have this trade volume index indicator for mt4. It should be coded like this,

The trade volume index is calculated by using the following formula

MTV = Minimum Tick Value

Change = Price minus the extreme price since direction changed

If Change is greater than MTV, then Direction = Accumulate

If Change is less than MTV, then Direction = Distribute

If Change is less than or equal to MTV and Change is greater than or equal to MTV, then Direction = Last Direction

Lastly, we must calculate the TVI, which is simple once you know the Direction.

If Direction is Accumulate, then TVI = previous TVI + Volume

If Direction is Distribute, then TVI = previous TVI - Volume

Thanks in adv,
 

freddieforex

Active member
Banned Users
how can it measure volume? its not a stock market...

There are many indicators that assist with monitoring the forex market volume. Consider using the web to do research which is faster than awaiting for an answer to your question new guy.
 

jeuro

Member
how can it measure volume? its not a stock market...

You are right Dennish ... volume can not be measure in forex because the data does not exist.

But they are talking about a simple "tick counter" ...that counts ticks per time frame..1m, 5m, etc.

To me, very much worthless information and not indicative of real volume traded in any way.


J.
 

freddieforex

Active member
Banned Users
Here is a site that will explain how forex volume indicators work



There are several indicators that can measure market activity.

This pdf may help:



Check out other volume indicator info by using the search feature on this forum.
 

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