Watch the testing video here:
Introduction to the NetFlows Indicator
The NetFlows indicator is a custom forex indicator that computes the volume-adjusted flow of a currency considering all currency pairs available on your platform.
When reading the indicator, remember that values above the 0.0 line are positive net flows, and values below negative. It is very interesting to notice that price action can move in a wide range of net flow configurations.
For example, EUR/USD might be increasing on both negative Euro flows AND negative Dollar flows (in which case one would defer to relative net flows to tell the story).
This indicator is, of course, limited by the pairs available on your platform. It is also limited to the 8 major currencies (feel free to modify if you have more).
It fits all kinds of timeframes and currency pairs.
The indicator is displayed in a separate window placed just below the main trading chart.
The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
We have attached two versions of the NetFlows indicator – the first one shows line signals and the second one shows bars signals.
How to set up the NetFlows indicator in MT4?
Copy and paste the NetFlows.ex4 or NetFlows.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
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