Normalized Volume Indicator MT5 Download - Free - [TradingFinder]

The Normalized Volume Indicator is part of the MetaTrader 5 indicator series, which significantly analyzes and compares current trading volume with its historical average.

This trading tool uses colored bars (as a histogram) to display the strengths and weaknesses of price movements to traders. Additionally, it uses a dashed line to create a Signal Threshold in the oscillator section.

Specifications Table of the Normalized Volume Indicator

Indicator Overview

The Normalized Volume indicator normalizes trading volume over a specific timeframe and indicates whether trading activity is above or below normal levels. The blue bars show higher volumes than normal, while the orange bars indicate lower than normal levels.

Uptrend Conditions

Based on the Chainlink cryptocurrency price chart in a 1-hour timeframe, the price trend was upward, and the histogram consistently formed blue bars (indicating volume higher than normal).

In such conditions, traders can consider the formation of blue bars in the positive oscillator phase as the beginning of an uptrend.

Downtrend Conditions

According to the EUR/USD currency pair chart in a 30-minute timeframe, the price trend was downward, and the histogram consistently formed blue bars (indicating volume higher than normal).

In such conditions, traders can consider the formation of blue bars in the positive oscillator phase as the beginning of a downtrend.

Indicator Settings

• Calculation Period: The number of candles used to calculate the normal volume is 14;
• Signal Threshold: The threshold value for identifying high or low volume is 100.0;
• Theme Setting: Indicator theme.

Conclusion

The Normalized Volume Indicator in MetaTrader 5 is a tool that visually displays market activity at each moment using a histogram.

This currency strength indicator effectively identifies the strengths and weaknesses of price movements and displays unusual Forex market fluctuations to traders.

Using this information, analysts can better understand price behavior and potential trend changes.