Volume bar chart generator
You can attach any MT5 compatible indicator or template to the tick chart and perform your technical analysis using various objects like trend lines.
A volume-based chart mainly designed for use with exchange-traded instruments (futures, stocks, etc.). Real volume data is needed for the volume chart to display. If no real volume data is present the chart will fallback to a "tick volume" bar chart that can be used with other instruments like Forex pairs.
The utility can also function as a "Tick chart" generator via the "Operating mode" setting.
The generator uses tick data to plot the historical tick chart for a particular setting and live ticks for plotting live charts. This method of calculation gives highly accurate charts as no approximation is used.
The settings include
- Bar size - Desired amount of (volume or ticks) needed for a new bar to form. It depends on the operating mode selected.
- Operating mode (Volume chart/ Tick chart)
- Show history for a number of days (0 to...)
- Synchronize first bar's open on a new day (yes/no) - Synchronize the first candle's open price with the open price of the daily candle.
- Override default custom chart name with (chart name)
- Apply a template to custom chart - you can enter a template name that should be automatically applied to the custom chart
Added option for building a renko chart for backtesting purposes only.