Volume RV Indicator for MetaTrader 4 Download – TradingFinder

The Volume RV Indicator is one of the practical tools for volume traders who base their analyses on market volume.

This indicator is specifically designed for the MetaTrader 4 platform and, by providing 7 different volume metrics, enables Forex traders to perform more specialized analyses directly on their trading charts.

Volume RV Indicator Table

Below, the information related to the Volume RV Indicator is provided.

RV Volume Indicator at a Glance

The Volume RV Indicator is a specialized tool for technical traders that helps identify market trends through volume analysis.

This indicator works with a signal line: when volume crosses above or below this line, buy and sell signals are generated, alerting traders to new trading opportunities.

Additionally, users can choose from 7 different volume indices for calculations:

• AD
• BWMFI
• FORCE
• MFI
• OBV
• WRP
• Volumes

Uptrend in the RV Volume Indicator

On the 4-hour XAU/USD chart, the Volume RV Indicator was applied. This tool allows traders to analyze trading volume and combine it with their strategies to better identify market direction.

When an upward trend forms and the indicator generates a buy signal, traders can enter long positions.

Downtrend in the RV Volume Indicator

On the 1-hour NZD/USD chart, price was in a downtrend while trading volume was also decreasing. By applying the Volume RV Indicator, traders can identify bearish market conditions and enter short positions when sell signals are triggered.

Volume RV Indicator Settings

Below, the settings of the Volume RV Indicator are provided:

• History: Number of candles used for historical calculations;
• Calculation: Choose among 7 volume-based indices for calculations (AD, BWMFI, MFI,OBV, WRP, Volumes, FORCE);
• Reverse: Enable/disable reverse mode; if enabled, values are multiplied by -1 and displayed inverted on the chart;
• Period: Defines the calculation period;
• Method: Defines the calculation method;
• Applied Price: Defines the price basis for calculations;
• Draw Histogram: Enable/disable display as histogram or line;
• Signal Period: Defines the calculation period for the signal line;
• Signal MA Method: Defines the moving average method for the signal line;
• Show Signal Line: Enable/disable the signal line display;
• Arrow Gap: Defines the distance between the signal and candle;
• Arrow Size: Defines the size of the signal arrow;
• Buy Arrow Color: Sets the color of the buy signal arrow;
• Sell Arrow Color: Selects the sell signal arrow’s color;
• Buy Arrow Code: Defines the MQL code for buy signal arrows;
• Sell Arrow Code: Sets the MQL code for sell signal arrows;
• Message Alert: Enable/disable alerts as messages when a signal occurs;
• Sound Alert: Enable/disable alerts as sounds when a signal occurs;
• Email Alert: Enable/disable email alerts when a signal occurs;
• Sound File: Defines the alert sound file.

Conclusion

The Volume RV Indicator is a valuable tool for Forex and crypto traders who rely on volume oscillators for chart-based analysis.

With 7 volume indices and a moving average used as a signal line, this indicator helps generate buy and sell signals, giving traders better trading opportunities.