POC level is an essential tool for Forex trading when it is not possible to view the real volumes. The POC level indicator shows the Point Of Control (POC) levels on the chart for the area marked by a rectangle. This indicator can significantly improve the accuracy of your market entries. This indicator automatically calculates the POC level for any array of candles marked by a rectangular area.
To obtain the POC level, it is sufficient to create and drag a rectangle onto the array of candles on the chart. The Point Of Control levels of candlestick flats and congestions are the perfect spots for entering a position, because the probability of a rebound from a POC level is much higher than the probability of a breakout. The calculation is performed using the tick volumes of the MetaTrader 4 terminal, which matches the volume levels of futures in terms of the Forex market.
- It shows the maximum volume of the profile of the rectangular area - Point Of Control, which is visually blurred and can not be accurately determined.
- The indicator works on any pairs, cryptocurrencies and timeframes.
- The indicator does not load the processor at all, since it performs calculations only when a level is created.
- When trading along the trend, the probability of a rebound from POC level of hourly accumulations is over 65% for all major pairs.
- POC level within a rectangle - Point Of Control level within a rectangle
- Color of the rectangle - color of a rectangle created by the button on the chart
- Draw rectangle as background ON - background color of the rectangle
- Rectangle selected ON - make all rectangles selected for moving
- Point of control (POC) ON - display Point Of Control - true or middle line - false
- Show button ON - show the buttons for creating a rectangular area on the chart
- Maximum bars in rectangle - the maximum number of bars in a rectangular area to calculate the Point Of Control level
I will appreciate any feedback, discussion and suggestions for improving the indicator.
- Added additional colors on the buttons
- Optimized code
- Added sound to events
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