Volume Open Interest Indicator Mt4

Here is the indicator that show real forex volume in mt4 futures for currency pairs crude oil gold and silver and open interest for them the evolution dvoid daily volume and open interest data.

Volume open interest indicator mt4. Just drag the indicator onto the chart and select a color scheme. The indicator takes information on the total volume of open long and short contracts on the exchange market known as open interest from the cme archives and conveniently displays the information on the meta trader chart. Multiple futures contracts can be displayed at the same time.

Open interest an indicator that displays a graph of the total amount of opened long and short trades or in other words the total volume of opened orders in the market. The color deep and brightness corresponds to the quantitative ratio of the open interest to its maximum level for this date so now the level strength is more visual. Open interest is an indicator often used by traders to confirm trends and trend reversals for both the futures and options markets.

When open interest put values becomes greater than open interest call values the indicator color is red color of short position if call becomes greater than put it s blue color of long position. In metatrader 5 an open interest is displayed as open interest in details tab of the market watch window but it is not available as an indicator. Unfortunately the standard volumes mt4 indicator doesn t always meet the expectations of traders so we offer you to download an alternative indicator of volumes called better volume.

Open interest represents the total number of open contracts on a. It is currently one of the best or rather the most popular volumes indicator designed for metatrader trading terminal. Free download of the open interest indicator by barabashkakvn for metatrader 5 in the mql5 code base.