Volume Plus for MT5
- Indicators
- Huu Hai Ngo
- Version: 1.0
The Volume Plus indicator for MT5 can be effectively used for detecting imbalances in supply and demand.
The indicator improves on the typical volume histogram by coloring the bars.
Bar colors (colors are customizable):
The indicator improves on the typical volume histogram by coloring the bars.
Bar colors (colors are customizable):
- Neutral - DimGray
- Wide Spread (Range) Bar on High Volume - MediumBlue
- Narrow Spread, High Volume - MidnightBlue
- Wide Spread, Low Volume - ForestGreen
- Narrow Spread, Low Volume - DarkGreen
- Very/Ultra Wide Spread, Low Volume - Aqua
- Narrow Spread, Ultra High Volume - Purple
- Very/Ultra Wide Spread, Ultra High Volume - Maroon
Input parameters
- VolumeType - Volume type (tick or real)
- MA Period - Period for the moving average.
- LookBackBars - Bars to analyze.