ClusterBox - Vertical Cross Section of the Market - MetaTrader 4 Script - MT4/MT5 Resources

General information

For every candlestick on any time frame, there is a corresponding number of price movements to form it. On Forex charts, this feature appears as volume, although it has no direct relationship to actual volume. However, tick volume data can be used in the same manner as real volume data.

Information about the price changes that occurred before the additional indicator is taken from the special price change file, which is available in the tick collector . Ready-made tick file archives are also available from the following locations. If historical rendering is not required, then the indicator value will be displayed in real time whenever new quotes arrive.

About the ClusterBox indicator

The ClusterBox indicator shows a detailed picture of the distribution of price movements inside a candlestick (if it is divided into clusters). Each cluster is characterized by its height, set in points (the "Number of points in a cluster" parameter). Therefore, each candlestick will contain a different number of clusters depending on its height.

Text labels indicating the number of ticks in the cluster will be colored based on the size of the cumulative tick population.

The consistency between the minimum volume level and the color representing this level is set in the relevant parameters "Minimum volume. Level N" and "Color of level N". Therefore, quote volumes greater than the value of the "Min. Volume. Level 5" parameter are represented by the color specified in the "Level 5 Color" parameter.

More information can be found here – Market Vertical Section .

Attachment download

📎 clusterbox_ad.mq4 (51.42 KB)

Source: MQL5 #14125