The volume divergence markers indicator for MetaTrader4 is deployed as a technical tool that places a marker on the activity chart in relation to the divergence between the bar sizes and trade volumes.
This implies that if the bar size has been increasing/decreasing for a specified consecutive bars and volume is conflicting, a marker would be spotted on the activity chart.
Markers are essentially placed around peaks just before a reversal or somewhat mid technical correction when a trend is ongoing.
This indicator is vital in determining possible entry or exit points, based on the input parameter’s configuration. The volume divergence markers indicator will do best if used alongside other indicators.
When the input variables are tweaked to higher levels, this could lead to less frequent signals. It is important to play with these settings to be able to get your preferred indicator setting. The volume divergence markers indicator can be deployed in maximizing profits via the opening/closing of trades at ideal entry/exit levels.
The ideal values for input variables should be around 1 – 3 bars. It makes no sense to have values above 4, since such a scenario would never happen in the market.
The volume divergence markers indicator works best when the market is flat. It is important not to deploy this indicator as a solo tool, as it does not define the direction of price movement.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern indicator
Customization options: Variable (Is current bar counted? Market display mode, Continuous change in volume (in bars), Continuous change in barsize (in bars), Market colour), Colors, width & Style.
Time frames: 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours