Hey fellow traders! Today, let's dive into the Time Segmented Volume (TSV), an indicator that can really amp up your trading game on MetaTrader 5. This version is based on the original created by Worden Brothers, Inc., but I've added some nifty features to make it even better.
One of the standout features is the flexibility in choosing the price you want to apply. Instead of being stuck with just the default close price, you can now customize it to suit your strategy.
Moreover, you can select your preferred volume weighting. Whether you want to use a pseudo-volume based on the true range or skip volume weighting altogether, the choice is yours!
The indicator also displays two moving averages: the classic simple moving average, just like the original, and an exponential moving average that reacts more swiftly to price changes.
The beauty of this code lies in its versatility—it uses conditional compilation, allowing it to run smoothly on both MQL4 and MQL5.
And here’s a little bonus: all my source code for CodeBase publications is now accessible in the “Public Projects” tab of MetaEditor, under the name “FMIC”. Feel free to check it out!
Happy trading, and I hope you find the updated TSV indicator as useful as I have!
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