Volume HeatMap

The Volume Heatmap indicator visually shows the INTENSITY of the volume taking into account the concept of standard deviation.

Purpose of the Indicator:

High volumes are common where there is a strong consensus that prices will increase. An increase in volume often occurs at the beginning of a new upward trend in the price of an asset. Some technical analysts do not rely on trend confirmations without a significant increase in volume. Low volumes usually occur when an asset is heading for a downward trend. They are characterized by indefinite expectations that occur in periods of consolidation. In this way, you can have the exact idea of ​​the intensity of the current volume compared to past volumes and act according to your strategy, having even more confidence in your trades.

Settings:

• Possibility to adjust the intensity ranges using the standard deviation multipliers.
• Possibility of limiting the operation of the indicator only for calculations in a time range, this feature makes it possible to exclude volumes from the beginning and end of the auction through the time restriction.
• Choose between calculation with tick volume or actual volume.
• Possibility to show or hide the lines of standard deviations.
• Possibility to choose the line type of the standard deviations (dotted, dashed, continuous, etc.).

EA integration:

• Buffer 0 - Volume
• Buffer 1 - Volume Color (0-7)
• Buffer 2 - Standard Deviation

ALERTS:

Have you tested the Volume Heatmap DEMO?

Test the DEMO version: https://www.mql5.com/en/market/product/57780