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Indicators

Range_Volume_Ratio - indicator for MetaTrader 5

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Views:
1082
Rating:
votes: 11
Published:
2018.06.18 16:23

The indicator shows in a separate window, as a histogram, the candlestick size / tick volume ratios:

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

The indicator has one input parameter:

  • Calculation type - type of calculations:
    • Open/Close - difference between Open and Close;
    • High/Low - difference between High and Low.

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

Fig.1. Calculations by Open/Close

Fig.1. Calculations by Open/Close


Fig.1. Calculations by High/Low

Fig.1. Calculations by High/Low

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/20921

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