Wave Volume ZZ
- Sergey Mylnikov
- Version: 3.2
- Updated: 12 November 2020
The indicator displays the total volume in the price movement. This allows easily determining the supply and demand on the market and reversal points.
It works in any Forex markets, futures, stocks. It does not redraw, the construction algorithm allows you to work with any instrument on any timeframe, regardless of the volatility "without adjustment to the instrument."
The ideas from the books of David Weiss "A Modern Adaptation of the Wyckoff Method"
and Timothy Orda "The_Secret_Science_of_Price_and_Volume"
- Mode - volume calculation mode (total as in D. Weiss, or average as in Timothy Ord)
- Volumes - real or tick
- History - history in bars
- Period - period of wave formation
- Show volume - display the volumes
- Prefix - prefix for volume icons
- Vertically indented - vertical offset of icons
- Indent of the price line - offset from the temporary volume line
- Rounding volume - volume rounding (to reduce the numerical indication of the volume by 10, 100, 1000 for easier perception)
- Volume UP - ascending volume
- Volume DN - descending volume
- Temporary volume - the volume that was not included in the formed wave
- Font size
for a more clear picture of the market I recommend to use together with a duplicating indicator: