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Volume Levels

Volume Levels is a very important indicator for exchange trading. Most of the trades were performed on those levels. This indicator displays the price level that had the most trade volumes over a certain period of time. Often, the price bounces from those levels in the future, and it can be successfully used in trading. It works on any currency pair.


Parameters

  • HistoryBars - the number of bars to determine the near volume levels;
  • Range - the maximum distance above and below the current price to determine the levels;
  • HistoryBarsLevels2 - the number of bars to determine the distant volume levels;
  • MinDistanceLevels2 - the minimum distance from the near level to the distant one;
  • RedrawTime - the levels redrawing time;
  • Step - the step to determine the levels (the smaller the step, the higher the accuracy, but the calculation of levels may take longer);
  • ColorLow - color of the lower levels;
  • ColorHigh - color of the upper levels.


Recommendations

The smaller the timeframe and at the same time the greater the HistoryBars parameter, the stronger are the levels. When using on a 5-digit account, it is better to increase the Range and MinDistanceLevels2 parameters 5-10 times. The indicator is best used on the smaller timeframes (М1, M5, M15, M30), but it can also be used on the higher ones.

Aravind
1448
2017.03.18 01:26 
 

Awesome, very good indicator.

Version 1.1 - 2016.04.22
Added ability to display levels from one timeframe (when switching to different timeframes, the volume levels are built from the one selected by you). This ability is provided by TimeframeFindLevels parameter. Here you can specify the timeframe in minutes (1, 5, 15, 30, 60, 240) the levels are counted from. If 0, the levels are displayed based on the current timeframe. The lower the timeframe, the more accurate the levels since the amount of days for analysis is larger.

The default parameters now fit the five-digit accounts.