The Volume MA Indicator is a useful and popular free Forex indicator for MT4. It uses the volume of a currency pair to identify overbought and oversold conditions. The indicator uses the moving average of the volume of a currency pair to determine the trend. When the moving average is above the average, it indicates an uptrend. Conversely, when the moving average is below the average, it indicates a downtrend. By using this indicator, traders can identify potential entry and exit points in the market.