Klinger Volume Oscillator
The Klinger Volume Oscillator combines price direction with volume to gauge whether volume is confirming or fighting the recent trend. Each bar's "volume force" is signed by whether the (high+low+close)/3 trend price rose or fell versus the prior bar, and scaled by how wide today's high-low range is against the average range of the last 55 bars - a bar that moves further than usual on a given amount of volume gets more weight than a quiet one. The oscillator itself is a fast EMA of that volume force minus a slower EMA of the same series, with a third EMA acting as the signal line, exactly as published. MetaTrader 4 has no genuine traded-volume feed from most forex and CFD brokers - MarketInfo/iVolume return tick counts (how many quote updates arrived), not contracts or lots actually traded. This indicator uses iTickVolume deliberately and says so here rather than implying it reads real market volume, which it cannot on this platform. Treat readings as a proxy for market activity intensity, not literal volume. The two EMAs feeding the oscillator, and the EMA feeding the signal line, are recomputed across the visible range on every call rather than tracked as an incrementally updated running value, so a chart history reload or timeframe change cannot leave a stale EMA state behind. Notes and limitations - Uses iTickVolume (tick count), not genuine traded volume - see the full description above. Results will differ from a platform with a real volume feed (e.g. futures data). - The range-scaling window is fixed at 55 bars internally, matching Klinger's original design rather than being tied to InpSlowEma. - Needs InpSlowEma + InpSignalEma + a few bars of history before the signal line starts drawing. - This is an oscillator only - no alerts, no trade signals.
Indicator · MT4 · v1.0 · Free
About Klinger Volume Oscillator
Klinger Volume Oscillator is an indicator for MetaTrader 4. It has 3 settings, such as Fast ema, Slow ema and Signal ema. MQL source code included.
Files in the download: KlingerVolumeOscillator.ex4, KlingerVolumeOscillator.mq4, KlingerVolumeOscillator.txt.
Settings
| Setting | Default | What it does |
|---|---|---|
| Fast ema | 34 | Fast EMA period applied to volume force |
| Slow ema | 55 | Slow EMA period applied to volume force |
| Signal ema | 13 | EMA period of the KVO signal line |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 4 open File → Open Data Folder, then go to MQL4 → Indicators.
- Copy the .mq4 file(s) there. Put any .mqh files in MQL4 → Include.
- Open the .mq4 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the indicator from the Navigator onto a chart and adjust the settings.
Tags: Moving Average · Volume · Oscillator · Buy/Sell Arrows · Trend · MT4 Indicator · MQL4 Source Code