Volume Indicator

The Volume indicator is an excellent tool for measuring tick volume or real volume activity. It quickly and easily helps traders evaluate the volume’s current size. The indicator for classification of the volume size uses the moving average and its multiples.

Accordingly, the area where the volume is located (relative to the moving average) is labeled as ultra-low, low, average, high, very high, or ultra-high.

The Indicator Can Calculate Moving Averages by Four Methods

Interpretation of the Indicator

By default, there are six zones that a user can change. Depending on which zone corresponds to the volume, the histogram bar is colored with an appropriate color. This way, you can easily recognize how high the volume is compared to 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

A 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, and MN).
High-Speed and reliable indicator.
Customizable parameters (Colors, Line thickness, MA period...).

Input Parameters

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

Output Parameters

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