Thursday, August 5, 2021

Volatmeter 2.0


This indicator measures volatility in a multi-timeframe fashion aiming at identifying flat markets, volatility spikes and price movement cycles in the market. It’s not the easiest volatility indicator to interpret, but certainly a very powerful one.

  • Trade when volatility is on your side
  • Identify short-term volatility and price spikes
  • Find volatility cycles at a glance
  • The indicator is non-repainting

The ingredients of the indicator are the following…

  • The green histogram is the current bar volatility
  • The blue line is the fast volatility value
  • The orange line is the slow volatility value
  • The red line is the higher timeframe volatility

…and have straightforward trading implications:

  • If the green histogram is above two lines, short-term volatility is extreme
  • If the blue line is above the orange line, volatility is generally high
  • If the orange line if above the red line, the market volatility is high
  • Zoom out in the chart to see the volatility cycle reflected on the red line


Input Parameters

When loading the indicator or EA to any chart, you will be presented with a set of options as input parameters. Don’t despair if you think they are too many, because parameters are grouped into self-explanatory blocks.

Fast ATR Period

ATR period for the current timeframe

Slow ATR Period

ATR period for higher timeframes


Installing indicators on MT4 comes down to:

  1. Downloading the files (.ex4 and .mq4 formats) – Right click the download button and Save link as…
  2. Placing them in the MT4 “Indicators” Data Folder
  3. Closing and re-starting your MT4 terminal
  4. Dragging you indicator from the Navigator to the Forex Chart

Downloading the indicator.

Download and prepare the MT4 indicator file(s) so they are ready to go on your computer. (Please note that some custom indicators will come in a .rar file, so make sure to extract the .ex4 and .mq4 files).

Go back to your Metatrader 4 platform, click the File Tab and select “Open Data Folder” to get access to the system folders for the MT4 program:

Open data folder. File-Open Data Folder

Placing them in the MT4 “Indicators” Data Folder.

Go to the “MQL4” folder and the “Indicator” subfolder and open the folder.

Drag or copy and paste the custom indicators files to the “Indicators” subfolder.

Restart the MT4 program. When MT4 loads again, you should see your custom indicator added to the directory in the navigation window.

Go to the navigation window and scroll down the menu to “Indicators”, pick the one you want to use and drag it to your chart.

For a video on how to install you MT4 indicators please visit our Youtube channel.

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Trevor Woodman was developed by Forex traders for traders. We wasted hours, probably years, looking for indicators, software and Forex broker reviews. is a hub for technical traders. It represents years of work, knowledge and experience. Enjoy and stay true to your passion.

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