Volume Weighted Average True Range Indicator

The Volume Weighted ATR indicator is a helpful tool for measuring market activity. It is based on the idea of the Volume-Weighted ATR. Combining these two elements helps identify potential turning points or breakout opportunities.

The indicator for the classification of the activity of the market uses the moving average and its multiples. Accordingly, where the VWATR bar is located (relative to the moving average), it is labelled as ultra-low, low, average, high, very high or ultra high.

The Indicator Can Calculate Moving Averages by Four Methods

By default, there are six zones that can be changed by the user. Depending on which zone corresponds to the Volume Weighted ATR indicator, the histogram bar is colored by the appropriate color.

Ultra VWATR zone - Crimson.
Low VWATR zone - White.
Average VWATR zone - Aqua.
High VWATR zone - DeepSkyBlue.
Very High VWATR zone - RoyalBlue.
Ultra High VWATR zone - Blue.

Main Features

A simple classification of the activity of the markets.
Several optional calculation methods.
Real and tick volume calculation (MT5).
User selectable ranges of the zones.
Works on every timeframe (M1, M5, M15, M30, H1, H4, D1, W1, MN).
A very fast and reliable indicator.
Customizable parameters (Colors, Line thickness, MA period...).
It can be used for creating EA (Expert Advisor).
Available for MT4 and MT5.

Input Parameters

Allows choosing between the Tick and Real volume for calculation.
MA_Method - Allows choosing between the SMA, SMMA, LWMA and EMA.
MA_Period - Period of the moving average calculation.
Line_Thickness - Thickness of the output line.
Histogram_Thickness - Thickness of the output histogram.
Low_Coefficient - Coefficient for determining low zone.
Average_Coefficient - Coefficient for determining average zone.
High_Coefficient - Coefficient for determining high zone.
Very_High_Coefficient - Coefficient for determining very high zone.
Ultra_High_Coefficient - Coefficient for determination ultra high zone.
Color_Text - Color of the indicator's text.
Color_MA_Line - Color of the moving average line.
Color_Ultra_Low - Color of the ultra-low histogram.
Color_Low - Color of the low histogram.
Color_Average - Color of the average histogram.
Color_High - Color of the high histogram.
Color_Very_High - Color of the very high histogram.
Color_Ultra_High - Color of the ultra-high histogram.

Output Parameters

Average VWATR - Displays the average value of the Volume Weighted ATR indicator.
VWATR - Displays values of the Volume Weighted ATR indicator.
Type - Displays the number of zone types. 1 - 6 according to the zone. Number 1 means ultra-low, 6 means ultra-high.
Low - Displays values of the low zone. Otherwise, the value equals zero.
Average - Displays values of the average zone. Otherwise, the value equals zero.
High - Displays values of the high zone. Otherwise, the value equals zero.
Very High - Displays values of the very high zone. Otherwise, the value equals zero.
Ultra High - Displays values of the ultra-high zone. Otherwise, the value equals zero.