Free MT4 and MT5 Volume Indicators

Volume indicators, known in search as volume profile, VWAP or on-balance volume (OBV) indicators, show how much trading backs each move on MT4 and MT5, so a breakout or a reversal is judged by participation as well as by price. Price shows where the market went and volume shows how many took part in getting it there, a pairing that technical analysis has relied on since the days of reading the ticker tape.

Volume bar tools colour each histogram bar against its own moving average, so a bar at twice the norm stands out at a glance, and relative volume (RVOL) tools compare it with the same time of day on earlier sessions. Cumulative volume delta (CVD) tools add buying minus selling pressure bar by bar and flag a divergence when price makes a new high that CVD fails to confirm. Market profile tools mark the initial balance (IB) of the first hour, single prints and poor highs or lows, while naked point of control (nPOC) tools keep old POCs that price has not revisited. Line tools include the volume-weighted moving average (VWMA), the Money Flow Index (MFI) and the Percentage Volume Oscillator (PVO), and VWAP tools add standard deviation bands around the volume-weighted average price.

Volume readings carry most weight at known levels: a spike at a prior swing low followed by a close back above it hints at absorption, while unusually thin volume during a pullback, often called a volume dry-up, suggests sellers have stepped away. Each free volume tool runs on MetaTrader 4 as an .ex4 built in MQL4 and on MetaTrader 5 as an .ex5 built in MQL5, and the install guide on its page covers the setup. US index futures such as the E-mini S&P 500 trade the most contracts in the first and last hour of the cash session, so many traders anchor session VWAP and profile tools to the 09:30 New York open.