Average Volume Indicator? | Forex Factory

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Average Volume Indicator?

  • #1
  • First Post: Feb 23, 2013 6:38pm Feb 23, 2013 6:38pm
Can anyone point me in the direction of an Average volume indicator. for example, I might like to have an indication of what is the average volume over the last 8 or 10 bars. Preferably this indicator could be configured for the number of bars it takes the average of.

Thanks in advance.
  • #2
  • Feb 23, 2013 6:49pm Feb 23, 2013 6:49pm
Quoting haggis
Can anyone point me in the direction of an Average volume indicator. for example, I might like to have an indication of what is the average volume over the last 8 or 10 bars. Preferably this indicator could be configured for the number of bars it takes the average of.

Thanks in advance.
Haggis,

You don't need an indy, it's already built into MT4.

1. Drag the Volumes indy from the 'Indicators' tree in MT4's Navigator onto your chart.

2. Drag the Moving Average indy from the 'Indicators' tree in MT4's Navigator into the subwindow created in step 1, and set 'Apply To' to 'First indicator's data'.

David
  • #3
  • Feb 23, 2013 6:55pm Feb 23, 2013 6:55pm
So if I set the MA to 8, that will give the average over the last 8 bars right?
  • #4
  • Feb 23, 2013 10:06pm Feb 23, 2013 10:06pm
Quoting haggis
So if I set the MA to 8, that will give the average over the last 8 bars right?
If you select a simple moving average from the dropdown, then I would assume that would be the case. You can easily test it by opening the data window, and checking the values of the volumes and the MA.
  • #5
  • Feb 23, 2013 11:47pm Feb 23, 2013 11:47pm
Quoting hanover
If you select a simple moving average from the dropdown, then I would assume that would be the case.
Yes if select SIMPLE MA, the result will be the average of the last X bars (selected in MA period).

Of course if the apply instructions you gave are respected (applied to First indicator's data).
MT4/MT5 EAs/Indicators/Alerts coder
  • #6
  • Feb 24, 2013 12:00am Feb 24, 2013 12:00am
Yeah I tested it that way...tks guys.

I was wondering how ppl used to get MAs on other indicators. Never knew about the 'Apply To' to 'First indicator's data' setting. Learn something every day!!
  • #7
  • Feb 24, 2013 12:41am Feb 24, 2013 12:41am
Quoting haggis
Learn something every day!!
This is the purpose of this forum: learn and share
MT4/MT5 EAs/Indicators/Alerts coder
  • #8
  • Feb 24, 2013 6:48am Feb 24, 2013 6:48am
Quoting haggis
Yeah I tested it that way...tks guys.

I was wondering how ppl used to get MAs on other indicators. Never knew about the 'Apply To' to 'First indicator's data' setting. Learn something every day!!
Haggis.
Also, when you do any analysis, keep in mind that the volume provided in the indicator is a plain "tick" counter. And completely un-related
to amount of money traded.

J.
  • #9
  • Apr 21, 2013 1:01pm Apr 21, 2013 1:01pm
hello,

refer to Martin Pring's book or videos on Price action, he describes very nicely how the volume can be related to price action. The main point according to his teachings is that: " If the Volume MA is moving in an opposite direction to price, then the reversal is about to happen : here is an example from last week for you:
also i am attaching the indicator.

Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2013-04-21 at 10.54.33 PM.jpg Size: 859 KB


Attached File(s)
File Type: zip volumeMA.mq4.zip   2 KB | 5,856 downloads
  • #10
  • Apr 22, 2013 4:54am Apr 22, 2013 4:54am
I am just starting to look at volume. I see that OBV indicator can do the same job: confirming trend and showing direction. I didn´t try it, i just discovered by reading. Any opinion?
  • #11
  • Apr 22, 2013 6:14am Apr 22, 2013 6:14am
Quoting zahmed
hello, refer to Martin Pring's book or videos on Price action, he describes very nicely how the volume can be related to price action.
I don't have his book, was he talking about Volume or Tick Count ? MT4 does not have Volume but does have Tick Count.
20 pips a day isn't too much to ask . . .
  • #12
  • Apr 22, 2013 8:13am Apr 22, 2013 8:13am
Quoting haggis
Can anyone point me in the direction of an Average volume indicator. for example, I might like to have an indication of what is the average volume over the last 8 or 10 bars. Preferably this indicator could be configured for the number of bars it takes the average of. Thanks in advance.

have a look at this one its a volume counter

looking for help to make it multi number of candle as a dasboard

like i select 5 / 9 /17/ 26 /75 for the number of candles & i can get the side of each (if not side & power)

thanks
Attached File(s)
File Type: mq4 Volume_Counter.mq4   3 KB | 3,463 downloads
BROKENGLISH
  • #13
  • Apr 22, 2013 9:23am Apr 22, 2013 9:23am
Quoting recidiviste
{quote} have a look at this one its a volume counter looking for help to make it multi number of candle as a dasboard like i select 5 / 9 /17/ 26 /75 for the number of candles & i can get the side of each (if not side & power) thanks {file}
This indicator is using the MT4 standard Volumes ... So like well said RaptorUK, this is a tick counter.
MT4/MT5 EAs/Indicators/Alerts coder
  • #14
  • Apr 23, 2013 5:42am Apr 23, 2013 5:42am
Quoting recidiviste
{quote} have a look at this one its a volume counter looking for help to make it multi number of candle as a dasboard like i select 5 / 9 /17/ 26 /75 for the number of candles & i can get the side of each (if not side & power) thanks {file}
Can you confirm what this indicator is actually measuring? is it up ticks and down ticks essentially?
  • #15
  • Apr 23, 2013 5:56am Apr 23, 2013 5:56am
Quoting haggis
{quote} Can you confirm what this indicator is actually measuring? is it up ticks and down ticks essentially?
You have the answer in my post above ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #16
  • Apr 23, 2013 6:20am Apr 23, 2013 6:20am
Quoting FerruFx
{quote} You have the answer in my post above ...
You speak true my friend.
  • #17
  • Apr 15, 2015 4:33pm Apr 15, 2015 4:33pm
Hi All,

I'm using MT4 - XM2 and am having problems placing a moving average indicator on my volumes chart.

Any help would be greatly appreciated!

Ricky
  • #18
  • May 31, 2017 12:01am May 31, 2017 12:01am
Hello Brothers

I did download Average Volume indicator from this thread earlier. Its really good Thank you for that.

Can someone please update this indicator by adding alert. E.g if Volume is higher than average line indicator send push notification and mobile alert?

I am attaching the indicator here.

Thanks in advance.

Dave
Attached File(s)
File Type: mq4 volumeMA.mq4   7 KB | 2,036 downloads
  • #19
  • Jan 31, 2019 6:08pm Jan 31, 2019 6:08pm
Hi,

This doesn't work in MT5. I dragged the MA into the volume indicator. It didn't ask me anything like 'apply to first indicator' as mentioned in the thread. The MA is also is totally different from the average of the volume bars. Any thoughts?
  • #20
  • Last Post: Jan 31, 2019 6:25pm Jan 31, 2019 6:25pm
Oops.. my bad. Please ignore the previous message. Found how to do it.
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