Volume Zone Oscillator Indicator For MT5

✋ Access The Array 9 Forex Reversal Scalper PRO – Scored +839 Pips Last Week! ✋

The Volume Zone Oscillator Forex indicator for Metatrader 5 draws extreme overbought and oversold market levels on the chart.

How to read the chart?

  • This market is considered extremely overbought when the indicator reaches the 60.0 level.
  • This market is considered overbought when the indicator reaches the 40.0 level.
  • This market is considered extremely oversold when the indicator reaches the -60.0 level.
  • This market is considered extremely oversold when the indicator reaches the- 40.0 level.

The following indicator inputs and parameters can be modified: period, extreme overbought, extreme oversold, oversold, overbought, style.

The indicator works for any trading instrument (Forex, Stocks, Indices, Metals, etc.) that can be loaded into the Metatrader 5 platform.

First, familiarize yourself with this technical indicator and test it on a demo account.

It supports all time frames and Forex pairs.

Download Indicator 🆓

VZO.mq5 Indicator (MT5)

Chart Example

The following chart shows what the Volume Zone Oscillator indicator looks like when applied to the MT5 chart.

How To Buy And Sell Forex Pairs With The Volume Zone Oscillator Indicator?

Find a simple trading example below:

Buy Signal

  • A buy signal is given when the Volume Zone Oscillator crosses the extreme oversold level bottom-up and the overall market trend is up.
  • Open a long trade and place your stop loss 2 pips below the previous swing low price.
  • Close the buy trade for a reward to risk ratio of at least 1.5, or wait for a sell signal.

Sell Signal

  • A sell signal is given when the Volume Zone Oscillator crosses the extreme overbought level top-down and the overall market trend is down.
  • Open a short trade and place your stop loss 2 pips above the previous swing high price.
  • Close the sell trade for a reward to risk ratio of at least 1.5, or wait for a buy signal.

Download Now 🆓

VZO.mq5 Indicator (MT5)

Frequently Asked Questions

How Do I Install This Custom Indicator On Metatrader 5?

  • Open the MT5 trading platform
  • Click on the File menu button located at the top left part of the platform
  • Click on Open Data Folder > MQL5 folder > Indicators
  • Copy the VZO.mq5 indicator file in the Indicators folder
  • Close and restart the trading platform
  • You will find the indicator here (Navigator window > Indicators)
  • Drag the indicator to the chart to get started with it!

How Do I Edit This Indicator?

  • Click in the open chart with your right mouse button
  • In the dropdown menu, click on Indicator List
  • Select the indicator and click on properties
  • Now you can edit the inputs, colors, levels, scale and visualization
  • Finally click the OK button to save the new configuration