Rainbow_Volume – indicator for MetaTrader 5

The indicator displays a colored tick-volum histogram by five criteria:

  1. Increase in volume and grwoing price (default color is green);
  2. Decrease in volume and falling price (default color is sky blue);
  3. Increase in volume and falling price (default color is red);
  4. Decrease in volume and growing price (default color is golden);
  5. There are no changes in either volume or price (dafault color is pale gray).

The indicator compares the current data with the data as of N periods ago.

It has one input parameter:

  • Period – calculation period.