RVRResistance - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
Indicator RVR Price Resistance OscillatorRange_Volume_Rate based on the indicator displays the candlestick size / tick volume ratio in the form of a histogram in a separate window, represented by two parameters:
It also displays signal lines drawn by smoothing the histogram values.
The colors of histogram columns can be displayed in two ways:
It has seven input parameters:
Filtering by minimum candlestick size and volume will only exclude from the calculation candlestick sizes and volumes lower than the values specified in these settings. In this case, the values specified here will be considered instead of the actual dimensions and volumes.
if inverse = no:
SR = difference/volume
if inverse = is:
SR = volume/difference
volume = max(volume, minvolume) Diff = Max(RVR, minimum point) RVR - Range Volume Ratio Signal = Moving Average (SR, Period, Method)
Figure 1. Calculating lowest resistance by opening/closing
Figure 2. Calculate the lowest resistance by High/Low
Figure 3. Calculate the highest resistance by opening/closing (the higher the bar, the stronger the resistance to price changes)
Attachment download
📎 rvrresistance.mq5 (12.13 KB)
Source: MQL5 #20923
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