WmiVol - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
Murad Ismailov
Typically, you need to find out the best time to trade when quotes change quickly (eg from 7am to 9pm). Problems may arise if you are not familiar with the instrument. This indicator reads all the bars on the chart and displays statistics about the time of day with the greatest activity. Select the candle height as the activity criterion (highest value minus lowest value). High activity is highlighted by blue bars, low activity is highlighted by pink bars. This indicator can be used as a filter for various strategies requiring high tool activity.
The indicator was first implemented in MQL4 and published in the code base on February 28, 2014.
Figure 1. WmiVol indicator
Attachment download
📎 wmivol.mq5 (6.02 KB)
Source: MQL5 #11281
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