BullsBearsEyes_Vol - indicator for MetaTrader 5

BullsBearsEyes oscillator displayed as a color histogram, using volumes.

Calculation formula:

For quite understandable reasons, the recalculation of overbought and oversold levels in such a modified oscillator should be performed using the same formula. In the final version, these levels are no longer permanent. Two levels with the appropriate breakout indication were used.

input int    HighLevel2=+25;                        // overbought level 2
input int    HighLevel1=+10;                        // overbought level 1
input int    LowLevel1=-10;                         // oversold level 1
input int    LowLevel2=-25;                         // oversold level 2

In the indicator input parameters, these levels are additionally multiplied by 100 and shifted by the levels of 50 of the source BullsBearsEyes, and then multiplied by volumes at each indicator tick.

Fig. 1. BullsBearsEyes_Vol indicator