Description
OBV indicator with trend line overlay, divergence detection, and directional bias signals.
Overview
The On-Balance Volume Trend Overlay is a professional-grade indicator engineered specifically for MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. Designed for systematic traders seeking disciplined execution, it combines proven quantitative principles with robust risk controls and real-time alert notifications.
Whether you trade Forex, Gold, or Equity Indices, the On-Balance Volume Trend Overlay provides a clear, quantitative edge by identifying high-conviction setup conditions while filtering out market noise.
Key Features
- Multi-Platform Support: Fully compatible with both MT4 and MT5 platforms.
- Rule-Based Logic: Eliminates emotional bias with 100% quantitative signal rules.
- Multi-Timeframe Confluence: Evaluates broader market structure before signal generation.
- Advanced Alert System: Instant notifications via MT4/MT5 popups, mobile push notifications, email, and Webhook HTTP POST (Telegram / Discord integration).
- Non-Repainting Signals: All signals lock upon bar close, ensuring strategy tester accuracy matches real-time trading.
- Optimized Performance: Single-pass architecture designed for minimal CPU usage and entry-level VPS deployment.
How It Works
1. Market Scanning: Continuously monitors configurable price series across selected timeframes.
2. Filter Validation: Checks primary trend direction and momentum threshold filters.
3. Signal Generation: Triggers precise markers upon bar close when all strategy criteria align.
4. Notification & Execution: Sends real-time alerts or manages orders according to user risk parameters.
Trading/Indicator Logic
OBV = cumulative sum: if close > prev close, add volume; if close < prev close, subtract volume; else unchanged. EMA(OBV, n) as trend line. Bull divergence: price makes lower low, OBV makes higher low. Bear divergence: price makes higher high, OBV makes lower high.
Supported Markets
- Forex
- Gold
- Indices
Recommended Timeframes
H1, H4, D1
Recommended Symbols
EURUSD, GBPUSD, XAUUSD
Main Settings
- OBV EMA Period (default 21)
- Divergence lookback bars (default 20)
- Divergence sensitivity (swing length)
- Bull divergence color
- Bear divergence color
- Alert on divergence
- Push/Email/Webhook
Installation
1. Open your MT4 or MT5 terminal.
2. Go to File -> Open Data Folder.
3. Open `MQL4/Indicators` (or `MQL5/Indicators`) for Indicators, or `MQL4/Experts` (or `MQL5/Experts`) for EAs.
4. Copy the compiled `.ex4` or `.ex5` file into the corresponding folder.
5. Restart MetaTrader or right-click Navigator -> Refresh.
6. Drag the product onto your desired chart and configure parameters.
How To Use
1. Apply the tool to your preferred chart symbol and timeframe.
2. Verify input settings align with your risk strategy and broker setup.
3. Keep MT4/MT5 running or deploy on a VPS for continuous tracking.
4. Use signal alerts to confirm manual entries or allow automated execution.
Who Is It For
- Day Traders & Swing Traders: Seeking objective signal confirmation.
- Systematic Algorithmic Traders: Looking for rule-based market execution.
- Prop Firm Traders: Requiring strict risk controls and non-repainting precision.
What’s Included
- Compiled .EX4 binary file for MetaTrader 4
- Compiled .EX5 binary file for MetaTrader 5
- Full User Documentation & Setup Guide
- Recommended parameter preset guidance
- Lifetime updates & technical support
Updates & Support
All AlgoTim products include lifetime access to regular maintenance updates, performance optimizations, and technical support. Dedicated customer assistance is available for installation and setup configuration.
Risk Disclaimer
Trading foreign exchange and financial instruments carries a high level of risk and may not be suitable for all investors. Before deciding to trade, you should carefully consider your investment objectives, level of experience, and risk appetite. Past performance is no guarantee of future results. AlgoTim trading tools are designed to assist systematic trading decisions and do not guarantee profits.
FAQ
Is this product compatible with both MT4 and MT5?
Yes, your purchase includes both compiled .EX4 and .EX5 binary versions.
Do I need to keep my MetaTrader terminal running?
Yes, for automated trade execution or continuous alert monitoring, MT4/MT5 must remain running or be deployed on a VPS.
Does this tool repaint historical signals?
No. All calculated signals lock upon bar close to guarantee accuracy in historical backtesting and live trading.
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