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This product is similar to Tick volume analizer Expert Advisor, however it is implemented as an indicator. Release of this product is stipulated by the fact, that it is not possible to run two EAs in the same window.
Tick volume is equal to amount of ticks at the unit of time. There is direct correlation between tick volume and real amount of deals. Every change of the price is a result of a real request to perform a deal. Consequently, fewer requests we have, the less price changes we get, and, as a consequence, tick volume is smaller.
In this case, when big amount of requests appear on the market, price changes happen more often. Big tick volume appears. Tick volume is an important indicator of trading activity at the intraday market. Growth of tick volume lets us determine the moment of increased interest in the price on the traders’ side and tells about market’s desire to trade actively.
Proposed analyzer lets us monitor the tick volume and the real volume in the real-time mode for the symbols, which have these rates. The indicator displays information at the upper left corner of the graph as the columns with indication of the traders’ level of interest in the instrument and the price at the present moment.
Values from 0 to 2 mean that the currency is very weak. Most of the traders sell it. One should get rid of the currency. If the market is calm and neutral, values of the indicator values are between 3 and 6. Values greater than 6 testify about an increased interest in the currency.
The less is the bar is, the less interest in the instrument presents. Higher bar and values greater than 7 tell us about a high interest in the price and the currency, which is represented by this bar. If the tick volume (volume) indicator exceeds value “7”, sound signal is played and the window with visual signal appears. This tells us that the "driver" with increased interest in it has appeared at the market.
Value of the bars let us determine easily, on which currency side you should trade and which currency you should get rid of. If, for example, the AUD bar is highlighted with the green color and its values are greater more than 7, and at the same moment USD values are less than 2, you should look for the points of entering the long position by the pair AUDUSD.
Usually the values change at the beginning of the European session, at the height of the American one and at the closure of a trading day.
The analyzer will be an excellent addition to any of your templates and set of templates. It will confirm or disprove your desire to enter a position by a financial instrument. It will be a good assistant for intraday-traders.