Volume At Price MT5
Volume at Price indicator gives an approximation of trading volume at each price level. Volume is vital when determining which price level is strong and which is not. With this indicator which estimates the volume at each price level by using some sort of statistical techniques along with Tick Volume, you will be able to detect the areas of high volume and the areas of low volume or even volume divergence and gaps in volume. Interpretation of the volume chart is estimated by the user, some traders use high volume areas as strong support or resistant levels, whereas others use areas with low volume as the strong level of support or resistant levels. It can't be used as standalone indicator. Meaning that it doesn't give explicit Buy/Sell Signals. Instead, it highlights areas with High/Low volume that can be used as support/resistance levels. They could be used to enter or even close a running trade. You better use it as decision support tool that confirms trading decisions of your own strategy.
- Generating volume profile for a specified period of time using several methods that gives you more insight into the market
- Visible Bars Range Profile: shows the volume profile for the visible range of bars on a chart
- Multi_Period Profile: Displays Volume profile for multiple periods (Days, Weeks, Months)
- Custom Period Profile: Displays he Volume profile for custom selected period using Cycle Line Tool
- Bars Count Profile: displays Volume Profile based on number of bars
- Cur Combined Periods: Merges multiple periods profiles into one profile (Days, Weeks, Month) and shows the latest merged period profile eg: latest 20 days profile
- Prev Combined Periods: Use the Vertical line tool to show the combined periods profile of the previous period
- Dynamic Combined Periods: Displays volume profile for combined periods dynamically when scrolling the chart to left or right starting from the first visible bar on the chart
- Year-To-Date Profile: Creates the volume profile from current year start until today
- Prev Quarter Profile: Creates the volume profile for the previous year quarter
- Prev Half Profile: Create the volume profile for the previous year half
- Prev Year Profile: Creates the Volume profile for the previous year
1- Background: User interface Background color.
2- Magic Number: Indicator's Magic Number.
3-16: Default Sub Time Frame: set the default sub time frame for each main time frame from which the indicator will calculate its value ** Sub Time Frame Must always be lower than higher or the main time frame. For example you can't select a week as a default sub time frame for a daily time frame. If you do so the indicator will do nothing.
17-Solid Histogram Bar: if true bars will be shaded, if false bars will be hollow.
18-Pivot Points Calc Mode: Fibos/Regular. Select how the pivot points are calculated (Fibonacci/Regular).
19-Show Pivot Points: Enable or Disable showing pivot lines on a chart.
20-Highlight High Or low Volume Zone:
- True: indicator will highlight high or low volume zones on the profile.
- False: Disable highlighting High/Low Volume Areas
21-Highlight Zone with: Drop down list to select the area of High, Low, Both High Low areas to highlight.
- High: Highlight Areas with volume greater than average
- Low: Highlight Areas with volume less than average
- Both: Highlight both High/Low Areas
22-High Volume Threshold: the Percentage of high volume above average. E.g: if this value is set to 1 then the indicator will highlight areas that have volume > 100% of the average volume for the selected profile
23-Low Volume Threshold: the Percentage of low volume below average. E.g: if this value is set to 0.20 then any area with volume less than 20% of the average volume for the selected profile will be considered a low volume area
24-Show POC:True/False: Set to true to show the Point of control for the current profile, False to disable showing point of control.
25-POC Color: Point of control color.
26-Show Value Area: True/False : True to show the value area for the current profile, False to disable it.
27-Value Area %: The Percentage of the Value Area, by default 70% or 0.70. ** Must be greater than 0
28-Value Area Color: Set the color of the Value area.
29-Use PreSet Color Scheme: Select true if you want to select from premade color scheme.
30-color Scheme: RedBlue, BlackWhite, BlackGreen.
- Enhanced Appearance: the profile will now be drawn at the very right side of the chart to avoid overlapping the chart if right to left is selected
- New feature for showing the profile of the current developing period