Range_Volume_Ratio_S - MetaTrader 5 Script - MT4/MT5 Resource
Smoothed Range Volume Ratio is based on the indicator's oscillatorrange_volume_ratio . It displays the candlestick size/tick 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:
The indicator has four input parameters:
If the calculation type is Open/Close:
RVR[i] = absolute value (opening[i] - closing[i]) / trading volume[i]
If the calculation type is high/low:
RVR[i] = (highest price[i] - lowest price[i]) / trading volume[i]
Where:
Volume - Live Volume Signal for Candlesticks = Moving Average (RVR, Period, Method)
Figure 1. Calculated by open/close, one color
Figure 2. Calculated by opening/closing, color based on previous column value
Figure 3. Calculated by high/low, color by previous column value
Attachment download
📎 range_volume_ratio_s.mq5 (10.64 KB)
Source: MQL5 #20922
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