VolumeSR MT4
- Indicators
- Vincent Jose Proenca
- Version: 1.0
- Activations: 5
his indicator automatically identifies key support and resistance levels by analyzing volume patterns. Unlike traditional S/R tools that rely only on price, Volume S/R finds levels where the market truly reacted.
DETECTION LOGIC:
- High Volume Zones: Price levels where strong buying/selling occurred
- Low Volume Zones: Areas of weak interest - potential breakout or reversal zones
SMART FILTERING:
- Nearby levels are automatically merged to avoid chart clutter
- Maximum levels limit keeps your chart clean
- Distance filter prevents overlapping lines
COLOR CODING:
- GREEN: Support levels (high volume bullish reaction)
- RED: Resistance levels (high volume bearish reaction)
- GRAY: Low volume zones (potential breakout areas)
FULLY CUSTOMIZABLE:
- Lookback period (default 200 bars)
- Volume thresholds (high/low sensitivity)
- Minimum distance between levels
- Line colors, width and style
- Optional labels
FEATURES:
- Auto-updates on each new bar
- Clean, non-repainting display
- Low CPU usage
- Works on all timeframes and instruments
Perfect for: Scalping, Day Trading, Swing Trading
Best on: Forex, Gold, Indices, Crypto
