If you're trading on MetaTrader 5, you might want to check out the OHLC Volume indicator. This handy tool breaks down trading volumes based on the Open, High, Low, and Close of each bar, giving you a clearer picture of market dynamics.
One of the best things about the OHLC Volume indicator is that it doesn’t require any input parameters. It's ready to use right out of the box!
How It Works:
StreamUP = Volume * UP_Coeff / (UP_Coeff + DN_Coeff)
StreamDN = Volume * DN_Coeff / (UP_Coeff + DN_Coeff)
Here’s a quick breakdown of the terms:
UP_Coeff = High - Open
DN_Coeff = Close - Low
Volume - Tick volume
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