Volume Zone Oscillator (MT5)

Volume Zone Oscillator (VZO) weighs price pressure by volume, separating accumulation vs distribution into a zero‑centered oscillator. It helps spot regime flips, exhaustion, and breakouts from low‑volatility zones in MetaTrader 5.

What it shows

• Zero line to define bull (above) / bear (below) pressure.
• OB/OS levels (e.g., ±40/±60) to mark extremes/exhaustion.
• Band width (optional) as a volatility gauge for squeeze/expansion.
• (Optional) arrows/alerts — zero flips, level exits/returns, slope changes.

Trade ideas

1. Flip → first pullback: after a flip above zero, buy the first shallow pullback while VZO holds > 0; mirror for shorts.
2. Range fades: when VZO oscillates between ±levels, fade outer‑band spikes toward mid/zero with price structure.
3. Squeeze breakout: trade the first strong expansion from a narrow VZO range combined with a zero flip.
4. (Optional) Divergence filter: avoid entries when price HH/LL is not confirmed by VZO.

Inputs that matter

• Lookback — responsiveness vs stability of the oscillator.
• Smoothing — noise removal vs lag.
• Levels — zero and OB/OS thresholds.
• Alerts — flips, exits/returns, slope.
• Colors/widths — quick visual read.

Suggested usage

• M5–M15: flips and squeeze breaks.
• M30–H4: trend‑aware pullbacks and mean‑reversion.
• Daily+: regime map and risk tilt.

Installation (MT5)

1. Open MetaTrader 5 → File → Open Data Folder.
2. Copy volume-zone-oscillator-fl.ex5 to MQL5/Indicators.
3. Restart MT5 (or refresh Navigator) and attach Volume Zone Oscillator.
4. Tweak inputs → OK.

FAQ

Does it repaint? No on closed bars.
Use in EAs? Yes, via iCustom.
Markets? FX, indices, metals, crypto — anything on MT5.

Disclaimer: Test on a demo account first; risk management is essential.