Our custom developed Forex Tick Volume Indicator. A tick index is a short-term indicator, often only relevant for a few minutes. For traders looking to enter into bullish sentiment, a positive tick index is a good indicator of overall market optimism, as more stocks are trading on an uptick compared to those trading on a down tick. However, traders should remember that the tick index is a very speculative identifier of market sentiment at a specific point in time and is considered unreliable for traders who use longer-term strategies
Feel free to use this indicator together with our other technical indicators (oscillators, momentum) or price action methods to maximize your trading accuracy.
The EUR/GBP 15 minute chart below displays the Forex Tick Volume Indicator in action.
Copy and paste the Forex Tick Volume Indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)
How to remove Indicator from your Metatrader Chart?
- Select the Chart where is the Indicator running in your Metatrader 4 Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete