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Hawkeye Volume Indicator for MT4




The Hawkeye Volume Indicator is a powerful tool for analyzing the volume data in the forex market. It is based on the concept of volume spread analysis, which assumes that volume is the key factor in determining the direction and strength of price movements. The indicator uses a histogram to display the volume data in different colors, depending on the price action and the trend. The indicator also draws a moving average line on the histogram to show the average volume level.


How to download and install the Hawkeye Volume Indicator




The Hawkeye Volume Indicator is available for download as a zip file from various sources on the internet. One of them is [IndicatorsPot], which offers a free download of the indicator along with a detailed description and customer reviews. To download and install the Hawkeye Volume Indicator, follow these steps:


Download: https://t.co/pY9NRbG0wK



  • Exit your MetaTrader 4 application.



  • Download the zip file to your computer and extract it.



  • Double-click on each Hawkeye program file to install it.



  • Enter your Hawkeye ID when prompted.



  • Click the Browse button and navigate to your broker/install directory.



  • Click the Finish button.



  • Restart your MetaTrader 4 application.



  • Go to Tools > Options > Expert Advisors and check the boxes for "Allow DLL imports" and "Allow external experts imports".



  • Go to File > Profiles and select one of the Hawkeye profiles, or go to File > New Chart > select your currency pair and right-click on the chart, then go to Template and select one of the Hawkeye templates.




You can also refer to the [quick installation guide] and the [user manual] provided by [Hawkeye Traders], the official website of the indicator. You can also watch the videos below for more instructions:



How to use the Hawkeye Volume Indicator




The Hawkeye Volume Indicator helps you to identify the bullish and bearish impulses in the market by analyzing the volume data. The indicator uses three colors to represent the different types of volume:



  • Green: This indicates a strong bullish impulse, where price has risen continuously from low to high, indicating high demand and low supply. The green bars are higher than the moving average line, showing above-average volume.



  • Red: This indicates a strong bearish impulse, where price has fallen continuously from high to low, indicating low demand and high supply. The red bars are higher than the moving average line, showing above-average volume.



  • White: This indicates a sideways impulse, where price has moved within a narrow range, indicating balanced demand and supply. The white bars are lower than the moving average line, showing below-average volume.




The Hawkeye Volume Indicator does not provide simple buy and sell signals, but rather helps you to confirm the trend direction and strength. You will need to use other indicators or methods to find entry and exit points for your trades. Here are some examples of how to use the Hawkeye Volume Indicator in conjunction with other tools:



Example #1: Bullish Market




In this example, we can see that price is in an uptrend, making higher highs and higher lows. The Hawkeye Volume Indicator shows mostly green bars, confirming the bullish momentum. We can also see that there are some support levels (marked with horizontal lines) where price bounced off after retracing from a strong bullish candle. We can use these support levels as potential entry points for long trades, or as stop-loss levels for short trades. We can also use other indicators, such as moving averages or trend lines, to confirm the trend direction and strength.


Example #2: Bearish Market




In this example, we can see that price is in a downtrend, making lower lows and lower highs. The Hawkeye Volume Indicator shows mostly red bars, confirming the bearish momentum. We can also see that there are some resistance levels (marked with horizontal lines) where price reversed after rallying from a strong bearish candle. We can use these resistance levels as potential entry points for short trades, or as stop-loss levels for long trades. We can also use other indicators, such as moving averages or trend lines, to confirm the trend direction and strength.


Conclusion




The Hawkeye Volume Indicator is a useful tool for analyzing the volume data in the forex market. It helps you to identify the bullish and bearish impulses in the market by using different colors to represent the volume types. It also draws a moving average line on the histogram to show the average volume level. The indicator does not provide buy and sell signals, but rather helps you to confirm the trend direction and strength. You will need to use other indicators or methods to find entry and exit points for your trades. The indicator is available for download as a zip file from various sources on the internet, and it can be easily installed on your MetaTrader 4 platform.




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