Pips Density Meter

The most important information no one ever told you is provided by the 'Pips Density Meter' indicator.

As a trader, you know that you can't trade in every market conditions, there are good and bad ones and the only action you can do
during bad market conditions is doing no action and only watch.

This indicator will warn you when the optimal market conditions are met based on one month statistics of the pair you are trading
regardless of your personal strategy.For every pair you trade you will immediately have an overview of the potentials of the price movements
and the best times to trade during the day, manually or by robot.
The indicator operates exclusively on the one minute chart of any pair.

=== Here's a list of market conditions and miscalculations that you have to avoid to be successfull doing trading

1. Small candles heights.
    When the candles are small the price usually cannot form good trends, often goes up and down erratically in small movements.
    Also, if you are a scalping trader you won't be able even to compensate for the spread cost and the loss will be inevitable.

2. The candles apparent height on the screen is not the real rappresentation of their value.
    The terminal continually adapts the candles graphic in order to fill the screen so the trader will be able in any market conditions
    to have a good view of the trends, but that comes with a price.For example, think about the pair Gold/Dollar, you can have candles
    as big as 200 pips or more and candles as small as 10 pips or less, and you want to catch the big ones! When the market produces candles
    of an average height of 10 pips because the price is moving slow, the graphic of the terminal will adapt to expand the candles in order
    to fit the screen and one candle would occupy, let's say, 2 centimeters of the entire screen height.
    But when the price will move faster and will produce higher candles of 100 pips, again, the graphic terminal will adapt and compress those candles
    in order to fit the screen and one candle could occupy the same 2 centimeters as the smaller ones but you won't be, at sight, be able to understand that.
    The consequence of this miscalculation is you will trade the smaller candles as the bigger ones and have big losses due to overtrading in the attempt to catch too little trends.

3. Sudden volatility that wipes out your account.
     If you have some experience on trading you will certainly know what I'm referring to.
     You are in your trade waiting for the price to go a little down to close the position then suddenly the price rise up like a missile, breaking through your
     useless stop loss that doesn't work when the price moves very fast, then you watch your account just to discover the big hole in your finances.
     I'm sure you want to avoid that.
     We can avoid that problem taking advantage of the price behaviour. Usually the price moves very slowly before a sudden movement happens and after that
     it stabillizes and it is ready to be traded.
     The indicator, using the one month statistics, knows when the market for the pair you are trading is slow and will warn you to stay outside.
     Then, after the price will began suddenly to move it will warn you that the market conditions are good and you will have the possibility
     to trade big candles in an already stabilized situation.

=== How the 'Pips Density Meter' works and how it can help you

1.The indicator initially creates a statistics log file for all the trading hours  back to four weeks prior the current trading day.
    The calculation is done only once, it starts from the day before the current trading day and doesn't need further updates.
    In the log file, situated in the MQL5\\Files folder, you can read the average heights of the candles for every hour and day indicated.

2.The values in the log file are elaborated to create an average value for every hour in the trading day and provided on the screen for you to read.
    That will help you pinpoint the most active trading hours, the ones that give the higher profits and the higher chances of success.

3.The indicator shows the pip density for every vertical centimeter on the screen vertical space.
    The higher this value the richer are the candles in terms of pips.
    This data will also help you understand at sight the pips value of the single candles and if the trends on the screen are high enough to be traded with success.

4.The indicator shows the average candles heights of the last trading hour.
    When this value reaches the 80% of the bigger average value of the entire month you will know that the market is ready to be traded
    and you'll have the best opportunity to catch good trades.
    The percentage can be modified if you reckon it useful.

5.The indicator provides an alarm button that will play an alarm and a screen flashing effect when the average candles height
    will reach 80% of the bigger average value of the day calculated on one month of the trading market.
    Just click the button and forget about trading until you hear the alarm that will warn you the market is ok to be traded.
    This will prevent you from getting into trouble trying to trade a bad market and save you a lot of time.

Please, watch the video and play it fullscreen to see all the details