This indicator is based on Volumes standard indicator but it adds some simple features than can be very usueful for the trader. This is the PRO(full working version) of the AvgVolumes the https://www.mql5.com/en/market/product/29968 So if you wanna try first how it works, I suggest you to download the otehr indicator and if you need to change values of parameter, consider to buy this indicator.
Obviously volumes (number of ticks) are provided by the broker so they are not a unique value in the world but anyway it is a good reference to understand how traders are operating. When the price reaches a set price, if the volume starts to be higher than past bars, it means it can be a hot level, so probably the price will get a strong acceleration upwards or downwards.
How to use
it calculates the average of Volumes based on the last N bars set by users. If the value of the current bar volume is higher than a set % considering the average, a different color will be used. The indicator is shown in a separate indicator window.
Depending of the timeframes you use, you should check different parameters to find when red volumes bars are associated with high volatility
- Bars used to calculate the average volume.
- Threshold (in %) for changing the color of the Bar. If the bar is higher of the % respect the calculated average.
- Show user notification when volume is above the set threshold
- Send notification for use with EA
In the first picture you can see the preview of the indicator how it works. In the second, you can see the worlwide download of the normal version.
-Added push notification when volume is above the set threshold for using indicator with EA