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Request for Volume expressed in pips

1 by TD-40
When I open a chart, I want to know how active the markets are. So it would be great to see a volume metric that showed the average number of pips in each candle, and allow me to modify the setting to maybe 8, 12, 21, or whatever number of units I want. For example, if I am looking at a 1hr chart and I see 6 pips, I won't bother trading. But if I see 25 or more, then I will look at entering a trade.

This purpose is to gauge how active the currency pair is by looking at the avg number of pips per candles in the charts.

Someone on Reddit suggested that I do this using ATR so that is also a possibility. I'll leave that up to you.

Does this exist?

Re: Request for Volume expressed in pips

2 by SijjiN
TD-40 wrote: Wed Jan 24, 2024 6:43 am When I open a chart, I want to know how active the markets are. So it would be great to see a volume metric that showed the average number of pips in each candle, and allow me to modify the setting to maybe 8, 12, 21, or whatever number of units I want. For example, if I am looking at a 1hr chart and I see 6 pips, I won't bother trading. But if I see 25 or more, then I will look at entering a trade.

This purpose is to gauge how active the currency pair is by looking at the avg number of pips per candles in the charts.

Someone on Reddit suggested that I do this using ATR so that is also a possibility. I'll leave that up to you.

Does this exist?
Buddy,

I think what you need is this 2 indicators I use on my trading system.
Range in movement, Pips and percentage, and also candles Volume.
Look at the screenshot.
:)
Peace!
These users thanked the author SijjiN for the post (total 3):
TD-40, galaxy, dmnik


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