Hi, i need an indicator with this computation:
Volume divided by "Pips" range of a candle = Volume/(High-Low)
For example: High for an EURUSD 30M candle is 1.35420 and low 1.35212, Volume 1500
1500/(1.35420-1.35212)
=1500/20,8pips
=72,115
or 72
The indicator is displayed as bars just like a normal volume with green color when up and red color when down. And the indicator also can be applied to JPY pairs with 3 decimals. It can be used to identify a tight range candle with high volume which more likely smart money is in/out.
Thank you for attention.
Volume divided by "Pips" range of a candle = Volume/(High-Low)
For example: High for an EURUSD 30M candle is 1.35420 and low 1.35212, Volume 1500
1500/(1.35420-1.35212)
=1500/20,8pips
=72,115
or 72
The indicator is displayed as bars just like a normal volume with green color when up and red color when down. And the indicator also can be applied to JPY pairs with 3 decimals. It can be used to identify a tight range candle with high volume which more likely smart money is in/out.
Thank you for attention.