The Volume RV Indicator is a practical tool for technical traders in MetaTrader 5 that provides access to seven different volume indices.
This indicator operates by displaying a histogram along with a moving average line. When histogram values cross above or below the signal line, buy and sell opportunities are highlighted for traders.
Volume RV Indicator Table
Below, the information related to the Volume RV Indicator is provided.
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Indicator Categories:
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Volume MT5 Indicators
Oscillators MT5 Indicators
Trading Assist MT5 Indicators
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Platforms:
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MetaTrader 5 Indicators
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Trading Skills:
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Intermediate
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Indicator Types:
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Trend MT5 Indicators
Entry & Exit MT5 Indicators
Reversal MT5 Indicators
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Timeframe:
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Multi-Timeframe MT5 Indicators
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Trading Style:
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Intraday MT5 Indicators
Scalper MT5 Indicators
Day Trading MT5 Indicators
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Trading Instruments:
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Forex MT5 Indicators
Crypto MT5 Indicators
Stock MT5 Indicators
Indices MT5 Indicators
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RV Volume Indicator at a Glance
The Volume RV Indicator is a specialized oscillator for volume trading, designed for traders who analyze market conditions based on volume.
It provides 7 volume indices for market analysis. When histogram values cross the signal line, trading signals are displayed as arrows and alerts, allowing traders to immediately act on buy or sell opportunities.
The supported indices are AD, BWMFI, FORCE, MFI, OBV, WRP, and Volumes, which traders can choose from based on their strategies.
Uptrend in the RV Volume Indicator
On the 15-minute EUR/USD chart, traders can use the Volume RV Indicator to analyze volume conditions in detail.
In bullish conditions, volume plays a key role in detecting buy signals.
When the histogram crosses above the signal line, buy signals are generated, allowing traders to enter long positions.
Downtrend in the RV Volume Indicator
On the 1-hour GBP/USD chart, the Volume RV Indicator generated sell signals. Traders can confirm bearish conditions by monitoring volume trends and apply sell entries accordingly.
When the histogram moves below the signal line, sell arrows appear on the chart, and alerts notify traders of bearish setups.
Volume RV Indicator Settings
Below, the settings of the Volume RV Indicator are provided:
- History: Number of candles used for calculations;
- Calculation: Choose among 7 volume indices (AD, BWMFI, MFI, OBV, WRP, Volumes, FORCE);
- Reverse: Enable/disable reverse mode. When enabled, index values are multiplied by -1 and inverted on the chart;
- Period: Defines the calculation period;
- Method: Sets the calculation method;
- Applied Price: Defines the price basis for index calculations;
- Draw Histogram: Enable/disable display as histogram or line;
- Signal Period: Customizes the calculation period for the signal line;
- Signal MA Method: Defines the moving average method for the signal line;
- Show Signal Line: Enable/disable signal line display;
- Arrow Gap: Defines the distance between signal arrows and candles;
- Arrow Size: Defines the size of signal arrows;
- Buy Arrow Color: Sets the color of buy arrows;
- Sell Arrow Color: Sets the color of sell arrows;
- Buy Arrow Code: Defines the MQL code for buy arrows;
- Sell Arrow Code: Sets the MQL code for sell arrows;
- Message Alert: Enable/disable message alerts when signals occur;
- Sound Alert: Enable/disable sound alarms when signals appear;
- Email Alert: Enable/disable email alerts when signals occur;
- Sound File: Sets the alert sound file.
Conclusion
The Volume RV Indicator is a specialized oscillator for Forex and crypto traders who analyze the market using volume.
By combining histogram values with a moving average signal line, it generates buy alerts when crossing above and sell alerts when crossing below, providing real-time trade opportunities.
Volume RV Indicator for MetaTrader 5 PDF
Volume RV Indicator for MetaTrader 5 PDF
Click to download Volume RV Indicator for MetaTrader 5 PDF
What is the Volume RV Indicator?
It is a specialized indicator in MetaTrader 5 for technical and volume traders, designed to detect market conditions using 7 volume indices.
How does the Volume RV Indicator work?
The indicator combines a histogram with a moving average signal line. When the histogram values are above the signal line, a buy signal is triggered, and when the histogram values are below the signal line, a sell signal is generated.