Volume OCLH MTF

Overview

The Volume OCLH MTF Indicator for MetaTrader 4 is a sophisticated tool designed to analyze the relationship between trading volume and price delta across multiple timeframes. Originally coded by Sergey85, this indicator combines advanced smoothing methods and multi-level volume–price calculations to help traders identify hidden momentum shifts, trend reversals, and volume-based divergences.

Unlike many conventional volume indicators, the Volume OCLH MTF processes data from several price components (Open, Close, High, Low) and applies multi-step moving averages for a more stable and accurate representation of market strength. It does not repaint and supports full MTF (Multi-Timeframe) analysis.

See also: VWAP Bands MT4 Indicator

Key Features

• Multi-Timeframe Support (MTF) – Analyze volume-to-price dynamics across multiple chart periods.
• 7 Calculation Modes – Choose between various methods for comparing Volume with High/Low or Open/Close deltas.
• Triple Smoothing System – Custom smoothing levels for volume, price delta, and signal line.
• Custom Histogram Visualization – Colored histograms and lines represent volume direction and signal strength.
• Arrow Alerts for Buy/Sell Signals – Visual arrows appear when bullish or bearish volume breakouts occur.
• Alert System – Configurable sound, message, and mobile alerts for trading signals.
• No Repainting – Once a signal appears, it remains fixed, even in MTF mode.

How It Works

The Volume OCLH MTF indicator measures volume efficiency — the ratio of traded volume to the delta between selected price points (Open, Close, High, Low).
It offers seven calculation options, including:

1. barHLplusCO – High-Low plus Open-Close difference.
2. barHLminusCO – High-Low minus Open-Close difference.
3. barCloseOpen – Close minus Open.
4. HLplusCO – Combines High-Low with Close-Open.
5. HLminusCO – Subtracts Close-Open from High-Low.
6. CloseOpen – Measures price change per candle.
7. HighLow – Simple volatility measure using High-Low difference.

Using this data, the indicator calculates moving averages on both volume and price deltas, generating histograms that reveal where strong buying or selling pressure is concentrated.

When the volume-to-delta ratio crosses specific thresholds, arrows appear to signal potential BUY (green) or SELL (red) setups.

Input Parameters

Trading Signals

The indicator generates two types of trading alerts based on volume-price interactions:

• Buy Signal – Appears when positive volume strength crosses above zero, often indicating strong upward momentum.
• Sell Signal – Appears when volume weakens and crosses below zero, signaling potential bearish pressure.

The histogram colors and arrow alerts make it easy to spot these changes visually — ideal for traders who rely on volume confirmation in their strategy.

Best Use Cases

• Combine with trend indicators (like moving averages or MACD) to confirm entry direction.
• Use in scalping or swing trading, adjusting timeframe for sensitivity.
• Identify volume divergences before major market reversals.
• Filter false breakouts by confirming with the indicator’s multi-timeframe consistency.

Advantages

• Works on any currency pair or instrument.
• Fully customizable visual design.
• Integrates alert automation for easier signal tracking.
• Stable and non-repainting behavior even in MTF mode.
• Useful for detecting hidden accumulation/distribution

Limitations

• Performance may slightly slow on very large historical periods due to deep calculations.
• Should be paired with other confirmation tools to avoid overtrading false spikes.

How to Use in MT4

1. Download the indicator file: volume-oclh-mtf-indicator.mq4
   
2. Copy it into your MQL4/Indicators directory.
3. Restart your MetaTrader 4 platform.
4. Attach the indicator to any chart.
5. Adjust the input settings to your preferred timeframe and calculation method.

How to Instal “Volume OCLH MTF” Indicator for Metatrader 4

1. Open your Metatrader 4 platform.
2. Download and save the “Volume OCLH MTF” indicator to your desktop or any other folder located on your local computer.
3. Choose “File” then “Open Data Folder” (Ctrl + Shift + D) on your Metatrader 4 platform.
4. Explore the following folder: MQL4 > Indicators.
5. Copy and paste the “Volume OCLH MTF” indicator into this folder.
6. Restart Metatrader 4.
7. “Volume OCLH MTF” indicators are stored by default in the custom indicator folder.
8. To access these indicators, go to Top Menu > Insert > Indicators > Custom.
9. In order to add a “Volume OCLH MTF” indicator to any of your Metatrader 4 charts, you will need to select a forex chart with one mouse click, then go to Top Menu > Insert > Indicators > Custom > click the “Volume OCLH MTF”.
10. Done!

See a complete guide How To Install Metatrader 4 Custom Indicators

Conclusion

The Volume OCLH MTF Indicator for MT4 provides traders with a deep look into market structure, combining volume strength, price movement, and multi-timeframe filtering into a single analytical framework.
Whether you’re a day trader or swing trader, this tool can reveal momentum shifts and help you anticipate future market direction based on real volume behavior.

Free Download Volume OCLH MTF indicator for Metatrader 4