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Indicators

Range_Volume_Ratio_S - indicator for MetaTrader 5

Scriptor | English Русский 中文 Español Deutsch 日本語 Português
Views:
5297
Rating:
(13)
Published:
2018.06.18 16:24
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Smoothed Range Volume Ratio is an oscillator based on indicator Range_Volume_Ratio. It shows in a separate window, as a histogram, the candlestick size / tick volume ratios by two parameters:

  1. Difference between Open and Close;
  2. Difference between High and Low.

It also displays a signal line plotted by the method of smoothing the histogram values.

The color of the histogram columns can be displayed by two methods:

  1. By the value of the previous column. If the previous column is above the signal line, then the color is green. Otherwise, it is orange;
  2. One-color histogram - all columns are of one color.

The indicator has four input parameters:

  • Calculation type - type of calculations:
    • Open/Close - difference between Open and Close;
    • High/Low - difference between High and Low.
  • Period - smoothing period of the signal line;
  • MA Method - signal line calculation method;
  • Colors setting - color settings:
    • By previous bar position - histogram column color by the value of the previous column;
    • One color - one color.

Calculations:

If the calculation type is Open/Close:

RVR[i] = Abs(Open[i] - Close[i]) / Volume[i]

If the calculation type is High/Low:

RVR[i] = (High[i] - Low[i]) / Volume[i]

where:

Volume - the tick volume of the candlestick
Signal = Moving average(RVR, Period, Method)

Fig.1. Calculations by Open/Close, one color

Fig.1. Calculations by Open/Close, one color


Fig.2. Calculations by Open/Close, the color by the value of the previous column

Fig.2. Calculations by Open/Close, the color by the value of the previous column


Fig.3. Calculations by High/Low, the color by the value of the previous column

Fig.3. Calculations by High/Low, the color by the value of the previous column

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/20922

Range_Volume_Ratio Range_Volume_Ratio

Indicator of candlestick size / tick volume ratios.

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A candlestick size indicator.

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An indicator of the volume / bar price range ratio with a signal line and with the option of identifying the maximum/minimum price change resistance.

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