If you're looking to up your trading game, you might want to consider the Time Segmented Volume (TSV) indicator, originally developed by Worden Brothers, Inc. I've made some tweaks to enhance its functionality, making it even more versatile for your trading strategy.
One of the cool features is that you can select which price to apply—you're no longer limited to just the default closing price. This flexibility allows you to tailor your analysis to fit your trading style better.
Additionally, you have the option to choose the type of volume weighting you want to use. Whether you prefer a pseudo-volume based on the true range or no volume weighting at all, it's all up to you!
The indicator shows two moving averages: the standard simple moving average that the original TSV features, and an exponential moving average that reacts faster to price changes. This dual approach gives you a broader view of market trends.
For the tech-savvy, the code is designed with conditional compilation, so it will work seamlessly on both MQL4 and MQL5 platforms.
And a quick heads up: all of my CodeBase publications are now accessible in the “Public Projects” tab of MetaEditor under the name “FMIC.” So, if you're keen on diving deeper, be sure to check that out!
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