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Volume by Price Pro MT4

The Volume by Price indicator shows the estimate total amount of volume traded for user-specified price zones as a horizontal histogram on the chart of any instrument. Vary representations on the same chart view by specifying different indicator parameter combinations. The Volume by Price indicator can be used to identify approximate past areas of low and high volume which could be interpreted as levels of support and resistance.


Indicator parameters

  • Data Time Range - the time range used for the indicator calculations
    • All data
    • Visible data in chart window
    • Specified Start to End
    • Specified Start to Specified End
    • Start to Specified End
    • Start to Last Visible data in chart window
    • Specified Start to Last Visible data in chart window
    • Last Visible data in chart window back to Specified Offset
  • Data Price Range - the total price range used for the indicator calculations
    • All data
    • Visible data in chart window
    • Specified Start to End
    • Start to Specified End
    • Specified Start to Specified End
  • Draw Bar Width - the price range per bar used for the indicator calculations
    • Automatic by Chart Scale
    • Amount of Bars
    • Pixels per Bar
    • Price Range per Bar
  • Draw Bar - the visual distinction for data output values of bars
    • Single
    • Divide
    • Divide and Largest on top
    • Subtract
  • Data Window Values Shift - the type of calculation used for the values outputted to the Data Window and iCustom function
    • Y-Axis (Indicator Price Ranges)
    • X-Axis (Chart Instrument Prices)

There are more parameters such as bar height, position of histogram on chart (left or right), highlighting of the current bar and styles of bars and labels.


Indicator data output values

  • Total Volume
  • Positive Volume
  • Negative Volume
  • Price Range Start
  • Price Range End
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