This is an indicator that gives signals of current trend with red/green histogram. Basically, it tests if the actual Close is above or below a moving average (periods and type can be modified in settings).
In a bullish or a bearish trend, the green and red histogram give strength of Volumes information, to identify trend exhaustion or pullbacks.
Converted from an MT4 indicator code, requested on Spanish forum.
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//PRC_Voluminator | indicator //27.02.2017 //Nicolas @ www.prorealcode.com //Sharing ProRealTime knowledge //translated from MT4 // --- parameters //SmoothPeriod = 14 //SmoothMethod = 0 (MMtype) // --- once alpha = 2.0/(1.0+SmoothPeriod) if barindex>SmoothPeriod then ma = average[SmoothPeriod,SmoothMethod](close) if close>ma then vol = +volume elsif close<ma then vol = -volume else vol = 0 endif if vol >0 then levelu = levelu[1]+alpha*(vol-levelu[1]) elsif vol <0 then levelu = levelu[1] else levelu = 0 endif if vol <0 then leveld = leveld[1]+alpha*(vol-leveld[1]) elsif vol >0 then leveld = leveld[1] else leveld = 0 endif if vol>0 then trend = 1 elsif vol<0 then trend = -1 else trend = 0 endif if trend = 1 then valuehu = levelu valuehd = 0 else valuehu = 0 valuehd = leveld endif endif return valuehu coloured(0,200,0) style(histogram), valuehd coloured(200,0,0) style(histogram), levelu coloured(110,110,110) style(dottedline), leveld coloured(110,110,110) style(dottedline), 0 coloured(100,100,100) style(point) |
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ProRealTime ITF files and other attachments :
Filename : download the ITF files
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