do you have any tools you can recommend that work greatly together with this tool
Re: MT5 Volume indicators
21do you have any tools you can recommend that work greatly together with this tool
do you have any tools you can recommend that work greatly together with this tool
Re: MT5 Volume indicators
22This thing is great for setting the trading timer in an EA!
“[A]s we know, there are known knowns—there are things we know we know. We also know there are known unknowns—that is to say we know there are some things we do not know. But there are also unknown unknowns—the ones we don’t know we don’t know.”—Donald Rumsfeld, 2002
Re: MT5 Volume indicators
23From Mladen Rakic:
Theory:
Volume weighted moving average is similar to some other weighted averages, except that it is using the volumes for weighting the prices. That way the price when the volume (tick volume or real volume) is high is more emphasized than the price where the volume is low
This version:
Chose the volume type which you wish to use for volumes. You can choose:
tick volumes
real volumes
Is using Volume Weighted Moving Averages and is applying the "correcting" method invented by dr. Alexander Uhl to produce a new "corrected" generalized DEMA. It also has floating levels for easier trend determination. Coloring methods supported are the following :
color change on slope change
color change on outer (floating) levels cross
color change on middle (floating) level cross
color change on average (GDEMA) value cross
Usage:
If your broker does not have real volumes, the indicator will assume that the volume is equal to 1 and in that case the average will be the same as SMA (Simple Moving Average). In all the other cases, it will depend on the underlying volumes. Depending on the choice of color change, you can use the color change as signal.
I added a few more volume averages to choose from it now has:
* Volume weighted ema
* Volume weighted fast ema
* Volume weighted relative moving average
* Volume weighted moving average
Theory:
Volume weighted moving average is similar to some other weighted averages, except that it is using the volumes for weighting the prices. That way the price when the volume (tick volume or real volume) is high is more emphasized than the price where the volume is low
This version:
Chose the volume type which you wish to use for volumes. You can choose:
tick volumes
real volumes
Is using Volume Weighted Moving Averages and is applying the "correcting" method invented by dr. Alexander Uhl to produce a new "corrected" generalized DEMA. It also has floating levels for easier trend determination. Coloring methods supported are the following :
color change on slope change
color change on outer (floating) levels cross
color change on middle (floating) level cross
color change on average (GDEMA) value cross
Usage:
If your broker does not have real volumes, the indicator will assume that the volume is equal to 1 and in that case the average will be the same as SMA (Simple Moving Average). In all the other cases, it will depend on the underlying volumes. Depending on the choice of color change, you can use the color change as signal.
I added a few more volume averages to choose from it now has:
* Volume weighted ema
* Volume weighted fast ema
* Volume weighted relative moving average
* Volume weighted moving average
- These users thanked the author mrtools for the post (total 2):
- RodrigoRT7, JohnnyRy
