HeatMap MT4

HeatMap MT4 allows traders to see inside the charts.

This indicator plots congestion zones over a certain period of time, known as "Lookback", by analyzing thousand of variables simultaneously.

These spots act like strong supports and resistances and now are easy to see.

HeatMap MT4 works with all timeframes and all instruments.


Settings

  • Computations - define whether the algorithm works continuously or only at the opening of each candle (default: New Candle).
  • Lookback in Bars - define the period to analyze (in bars).
  • Volume Weighted ? - if set to 'true', volumes statistics are added to the analysis (default: 'false').
  • High Presence Color - set the color for the heavy congestion zones.
  • Medium Presence Color - set the color for the medium congestion zones.
  • Low Presence Color - set the color for the light congestion zones.
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