Volume Period
- Indicators
- Version: 1.0
- Activations: 5
This indicator compares volumes from the same period to previous days instead of calculating the average of previous candles, so it is possible to detect volume anomalies more accurately.
I have always been bothered by seeing very large volumes at the beginning of a trading day and almost no volume throughout the day, making volume-based strategies very limited. This indicator can verify the strength of the volume of candles based on previous days, so it is possible to perceive volumes that are inconsistent with the period much more clearly, regardless of whether it is the beginning or end of the day.
Parameters:
- Volumes:
- TICK
- REAL
- Impulse Volume Type:
- absolute (the sum of the volume of the N days candles);
- relative (the value of the volume is divided by the sum of the volumes of that candle of the previous N days, always a value between 0 and 1, indicating the strength of that candle in that period);
- raise average (only shows the volumes that are above the average of the last N days, the value of the bar is how much above the average in absolute values the candle is);
- raise relative average (only shows the volumes that are above the average of the last N days, the value of the bar is how much above the average in relative values the candle is)
- [AVG] Move Average Period: How many candles will be used to measure the period average ON THE SAME DAY. It is equivalent to the period of the MT5 native volumes indicator.
- Threshold Volume: it is the minimum value for the maximum marker to start updating;
- Amount of days to compare: sets the amount of days that will be used to calculate the average.
For EA programmers: This indicator does not redraw, it is simpler and safer to program robots with it.
