Relative Volume – this is one of the few attempts to display the real money supply, which pass through the foreign exchange market.
The algorithm for calculating the values of the indicator is based on:
- The statistics, which are published by the bank for International Settlements every three years
- the volatility of the data currency pairs in the last 5 days
- The values of “True mid-range” for the last 5 days
- Values teak volume of the previous trading day
The indicator value reflects the amount bln. $.
Attention! This indicator supports only those currency pairs, which are represented by two of the following currencies:
- AUD – Australian dollar
- CAD – Canadian dollar
- CHF – Swiss Franc
- EUR – EUR
- GBP – British pound
- JPY – Japanese Yen
- NZD – New Zealand dollar
- USD – US Dollar
P.S. Due to the fact that the DC and brokers provide a variety of data on tick volumes, values Relative Volume MT4 indicator may differ.
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