BullsBearsEyes_Vol - MetaTrader 5 Script - MT4/MT5 Resource

Bull Bear Eyes uses volumes to display oscillators as color histograms.

Calculation formula:

For perfectly understandable reasons, the same formula should be used to recalculate overbought and oversold levels in such modified oscillators. In the final version, these levels are no longer permanent. Two levels with appropriate breakout indications are used.

 Enter an integer High level 2 = + 25 ; // Overbought level 2
Enter an integer High level 1 = + 10 ; // Overbought level 1
Enter an integer low level 1 = - 10 ; // oversold level 1
Enter an integer low level 2 = - 25 ; // Oversold level 2

In the indicator input parameters, these levels are additionally multiplied by 100 and shifted by 50 by the levels of the source BullsBearsEyes, then multiplied by the volume at each indicator tick.

Figure 1. BullsBearsEyes_Vol indicator

Attachment download

📎 bullsbearseyes_vol.mq5 (27.45 KB)

Source: MQL5 #22518