Volume Levels MT5 Free

Volume Levels MT5 Free

This indicator is able to determine the price levels at which there was the most volume for the specified period of history. In the future, the price often bounces off such levels, and this can be successfully applied in trading. They are displayed as lines, some parameters for determining the levels can be adjusted. This indicator is simple, therefore, it does not report signals, and only builds levels on EUR/USD.

Parameters

• HistoryBars - the number of bars to determine the near volume levels;
• Range - the maximum distance above and below the current price for determining levels;
• HistoryBarsLevels2 - the number of bars for determining the far volume levels;
• MinDistanceLevels2 - minimum distance from the near level to the far one;
• RedrawTime - level redrawing time (seconds multiplied by the current timeframe);
• LevelsDeterminationStep - the step for determining the levels (the smaller the step, the higher the accuracy, but the calculation of the levels may take longer);
• ClosedBarSignalOnly - display a new signal only when the bar is closed (otherwise, the signals will be before the close, and they may not be accurate);