When I open a chart, I want to know how active the markets are. So it would be great to see a volume metric that showed the average number of pips in each candle, and allow me to modify the setting to maybe 8, 12, 21, or whatever number of units I want. For example, if I am looking at a 1hr chart and I see 6 pips, I won't bother trading. But if I see 25 or more, then I will look at entering a trade.
This purpose is to gauge how active the currency pair is by looking at the avg number of pips per candles in the charts.
Someone on Reddit suggested that I do this using ATR so that is also a possibility. I'll leave that up to you.
Does this exist?
Re: Request for Volume expressed in pips
2Buddy,TD-40 wrote: Wed Jan 24, 2024 6:43 am When I open a chart, I want to know how active the markets are. So it would be great to see a volume metric that showed the average number of pips in each candle, and allow me to modify the setting to maybe 8, 12, 21, or whatever number of units I want. For example, if I am looking at a 1hr chart and I see 6 pips, I won't bother trading. But if I see 25 or more, then I will look at entering a trade.
This purpose is to gauge how active the currency pair is by looking at the avg number of pips per candles in the charts.
Someone on Reddit suggested that I do this using ATR so that is also a possibility. I'll leave that up to you.
Does this exist?
I think what you need is this 2 indicators I use on my trading system.
Range in movement, Pips and percentage, and also candles Volume.
Look at the screenshot.
Peace!
Attachments
Re: Request for Volume expressed in pips
3Thanks I'll give those a try. After I download those files how do I get them formatted to the required MQL5 Source File and Program files? Right now they are EX4.
Re: Request for Volume expressed in pips
4Hi,TD-40 wrote: Wed Jan 24, 2024 10:37 am Thanks I'll give those a try. After I download those files how do I get them formatted to the required MQL5 Source File and Program files? Right now they are EX4.
Sorry, I didn't know you were looking for MT5 indicators.
This ones are MT4 ( Meatatrader 4 ) only indicator, will only work on Metatrader 4.
Re: Request for Volume expressed in pips
6sorry I did not make that clear.SijjiN wrote: Wed Jan 24, 2024 10:45 am Hi,
Sorry, I didn't know you were looking for MT5 indicators.
This ones are MT4 ( Meatatrader 4 ) only indicator, will only work on Metatrader 4.
This request is for MT5.
Re: Request for Volume expressed in pips
7one file is ex5 and the other is mq5. I need both file types for each of these, is that right?
Re: Request for Volume expressed in pips
8No, you just copy them and paste them onto your Indicators folder.TD-40 wrote: Wed Jan 24, 2024 11:05 am one file is ex5 and the other is mq5. I need both file types for each of these, is that right?
All should work perfect.
Attachments
Re: Request for Volume expressed in pips
9
I did that but only the candlestick indicator is showing up in the list.
Re: Request for Volume expressed in pips
10ok,TD-40 wrote: Wed Jan 24, 2024 11:27 am I did that but only the candlestick indicator is showing up in the list.
mt5.jpg
I can't find a problem, so I re-compiled the code with my MT5 and saved it onto a different folder.
Try now this new files.
Hope this way it works ok for you.
