The 4 Time Frame OBV 2 Indicator plots On Balance Volume in a window below the chart, with a moving-average signal line on top. Also, OBV adds each bar’s volume on an up close and subtracts it on a down close, so the line tracks whether buyers or sellers are in control. A BUY alert fires when OBV crosses above its signal line and a SELL alert when it crosses below – and watching OBV against price exposes the divergences that often precede a turn.
For more like this, browse the more volume indicators for forex or jump to the full all MetaTrader indicators.
What the 4 Time Frame OBV 2 Indicator does on the chart
Also, the 4 Time Frame OBV 2 Indicator plots On Balance Volume in a separate window below the chart. Also, still, OBV is a running total that adds the bar’s volume when price closes up and subtracts it when price closes down, so the line rises while buyers dominate and falls while sellers dominate. The blue OBV line is the raw volume-flow reading.
An orange signal line tracks a simple moving average of OBV. Thus, when OBV crosses ABOVE its signal a BUY alert fires – volume flow has turned positive. When OBV crosses BELOW its signal a SELL alert fires. Also, still, hence, watching OBV against price also exposes divergence, where price makes a new high but OBV does not.
Key features and settings
- On Balance Volume line built from tick volume and close direction
- Moving-average signal line over OBV (configurable period)
- BUY alert on OBV crossing above its signal line
- SELL alert on OBV crossing below its signal line
- Useful for spotting price/volume divergence
- Full alert system: popup, push notification to mobile MetaTrader, email, and sound — all four channels toggle independently from the inputs panel. Alerts fire once per closed bar so you never get spammed mid-tick.
- Built for both MT4 and MT5; works on every timeframe and every symbol your broker offers.
- Lightweight code that does not slow down the chart.
| Setting | Description | Default |
|---|---|---|
SignalPeriod |
Moving-average period applied to OBV for the signal line | 13 |
EnableAlerts |
Master toggle for the alert system | true |
EnablePopup |
MT4/MT5 popup dialog on signal | true |
EnablePushNotify |
Mobile push notification (configure MetaQuotes ID first) | false |
EnableEmail |
SMTP email (configure Tools -> Options -> Email) | false |
EnableSound |
Play .wav from MT4/Sounds on signal | false |
How to read signals from the 4 Time Frame OBV 2 Indicator
Read OBV direction first, then the cross. Next, a rising OBV that crosses above its signal is the cleanest long context.
Entry idea (long). Wait for OBV to cross above its signal line while price holds a recent support level.
In practice, Entry idea (short). Wait for OBV to cross below its signal line while price stalls under resistance.
Exit idea. Step aside when OBV crosses back through its signal against your position, or when OBV diverges from price.
Tuning the 4 Time Frame OBV 2 Indicator inputs
Start with the defaults, then tune for your market. SignalPeriod (default 13) sets the averaging length — raise it for smoother, slower signals or lower it for faster, more sensitive ones. Then, every alert channel — pop-up, sound, email and mobile push — toggles independently in the same inputs panel, and alerts fire once per closed bar.
Recommended timeframes and instruments
this indicator relies on volume, which is most meaningful on higher timeframes.
- H1 and above where bar volume carries weight.
- H4 to Daily for confirming larger moves.
Sub-H1 tick volume is noisier, so pair it with price structure on EURUSD, GBPUSD and indices.
How to install on MT4 and MT5
Installation is the same for every indicator on this site. Thus, yet, unzip the download, copy the compiled .ex4 into your MT4 MQL4/Indicators folder (or the .ex5 into MT5 MQL5/Indicators), refresh the Navigator, then drag it onto the chart. For the full step-by-step with alert setup and troubleshooting, see our guide to installing MT4 and MT5 indicators.
Best practices and tips
- Use volume to confirm a move, not to trigger one on its own.
- Watch for divergence between price and volume at extremes.
- Wait for the bar to close before acting on a signal.
- Backtest your configuration on at least 200 closed bars before trading live.
- Keep position sizing small while you learn how the tool behaves on your instrument.
- Review your results weekly and prune settings that underperform.
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As a result, this it is one of 1,383 free MT4, MT5 and TradingView indicators we publish and maintain. Next, plainly, every tool ships with ready-to-use compiled MT4 (.ex4) and MT5 (.ex5) files, a 4-channel alert system (popup + mobile push + email + sound), and is loaded on EURUSD H1 before release to confirm it draws cleanly without repainting. The same one-step email opt-in below unlocks the entire library – not just this one indicator.
FAQ
What does the 4 Time Frame OBV 2 measure?
It plots a clear signal layer that the 4 Time Frame OBV 2 computes from recent price and volume on the chart.
Is the indicator non-repaint?
By default the indicator only confirms a signal on the bar close, so the printed signal locks in once that bar closes. Also, typically, some users prefer the early intra-bar mode for faster signals — both options are in the inputs.
Which timeframe should I use?
There is no single best timeframe. Then, m15 to H1 is a common starting point for intraday traders, and H4 to D1 works for swing traders. Backtest the configuration on the timeframe you actually trade.
Does it work on instruments other than forex?
It works on any instrument MT4 and MT5 supports — forex majors, gold (XAUUSD), indices like US30 and NAS100, and major cryptos. Also, still, yet, still, fast-moving instruments may need a smaller period setting.
Can I add alerts?
Yes. Thus, Pop-up, sound, push, and email alerts live in the inputs panel. On MT4 and MT5 the alert plays on the bar close that triggers the signal. Thus, truly, hence, this indicator ships with full alert functionality built in: popup alerts on the chart, push notifications to mobile MetaTrader, email alerts, and a sound alert with a configurable .wav file. In addition, you toggle each channel independently from the inputs panel (EnableAlerts, EnablePopup, EnablePushNotify, EnableEmail, EnableSound). Next, alerts trigger once per closed bar.
For external background reading, see the background on volume analysis. Are results guaranteed?
No. Trading involves risk. Results are not guaranteed. Past performance is not indicative of future results. Use the tool as one input. Always backtest before trading live.
Category: this is part of our Volume collection. Then, browse more Volume for MetaTrader, or explore every MT4 indicator and MT5 indicator on the site.
External references
- For background on this concept, see On-Balance Volume on Wikipedia.
- For broader market context, see the Schwab Learning Center.