Rainbow_Volume – indicator for MetaTrader 5
The indicator displays a colored tick-volum histogram by five criteria:
- Increase in volume and grwoing price (default color is green);
- Decrease in volume and falling price (default color is sky blue);
- Increase in volume and falling price (default color is red);
- Decrease in volume and growing price (default color is golden);
- 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.
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