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Indicators

ClusterBox - vertical cross-section of the market - indicator for MetaTrader 4

Ihor Herasko | English Русский 中文 Español Deutsch 日本語 Português

Views:
7746
Rating:
votes: 17
Published:
2015.12.11 10:54
Updated:
2016.11.22 07:32

General Information

For each candlestick of any timeframe there is a corresponding amount of ticks that formed it. On Forex charts this trait is displayed as Volume, although it has no direct relation to the real trade volumes. However, the tick volume data can be in the same way as the real volume data.

The information about the ticks that came before the indicator was attached are taken from the special tick file, which is formed with the help of the Ticks collector. A ready-made tick file can also be taken from the archive. If the history rendering is not required, then the indicator values will appear in real-time, provided the new ticks arrive.

About the ClusterBox indicator

The ClusterBox indicator displays the detailed picture of tick distribution inside the candlestick, if it is split into several clusters. Each cluster is characterized by height, set in points (the "Amount of points in one cluster" parameter). Therefore, each candlestick will contain a different amount of clusters depending on its height.

Depending on the size of the accumulated tick volume, the text label indicating the amount of ticks in the cluster will be represented by a certain color.

Accordance between the minimum tick volume level and the color which represents that level is set in the related parameters "Minimal volume. Level N" and "Color of level N". Therefore, the tick volume that is greater than the value of the "Minimal volume. level 5" parameter is represented by a color specified in the "Color of level 5" parameter.

More information can be found here — The vertical cross-section of the market.

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/14125

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