PipTick Volume

PipTick Volume indicator is great tool for measuring of tick volume activity. It helps traders simply and quickly evaluate the current size of volume. The indicator for the classification of the size of volume uses moving average and its multiples. Accordingly, where the volume is located (relative to the moving average), it is labeled as ultra low, low, average, high, very high or ultra high.

This indicator can calculate moving average by four methods:

SMA - Simple Moving Average
SMMA - Smoothed Moving Average
EMA - Exponential Moving Average
LWMA - Linear Weighted Moving Average

Interpretation of the indicator

By default, there are six zones which can be changed by user. Depending on which zone corresponds to the volume, the bar of histogram is colored by appropriate color. This way you can easily recognize how high the volume is, in comparison with the previous bars.

Ultra Low volume zone - Gray
Low volume zone - White
Average volume zone - Yellow
High volume zone - Gold
Very High volume zone - DarkOrange
Ultra High volume zone - Crimson

Main features

Simple classification of volume
Several optional calculation methods
User selectable ranges of the zones
Works on every timeframe (M1, M5, M15, M30, H1, H4, D1, W1, MN)
Very fast and reliable indicator
Customizable parameters (Colors, Line thickness, MA period...)

Input parameters

MA_Method - Allows to choose between SMA, SMMA, LWMA and EMA
MA_Period - Period of MA calculation
Line_Thickness - Thickness of output line
Histogram_Thickness - Thickness of output histogram
Low_Coefficient - Coefficient for determination low zone
Average_Coefficient - Coefficient for determination average zone
High_Coefficient - Coefficient for determination high zone
Very_High_Coefficient - Coefficient for determination very high zone
Ultra_High_Coefficient - Coefficient for determination ultra high zone
Color_Text - Color of indicator text
Color_MA_Line - Color of MA line
Color_Ultra_Low - Color of ultra low histogram
Color_Low - Color of low histogram
Color_Average - Color of average histogram
Color_High - Color of high histogram
Color_Very_High - Color of very high histogram
Color_Ultra_High - Color of ultra high histogram

Outputs parameters

Average Volume - Displays value of average volume by period
Volume - Displays values of volume
Type - Displays number of zone type. 1 - 6 according the zone. Number 1 means ultra low, 6 means ultra high
Low - Displays values of low zone. Otherwise value equals zero
Average - Displays values of average zone. Otherwise value equals zero
High - Displays values of high zone. Otherwise value equals zero
Very High - Displays values of very high zone. Otherwise value equals zero
Ultra High - Displays values of ultra high zone. Otherwise value equals zero