Range_Volume_Ratio – indicator for MetaTrader 5
The indicator shows in a separate window, as a histogram, the candlestick size / tick volume ratios:
- Difference between Open and Close;
- Difference between High and Low.
The indicator has one input parameter:
- Calculation type – type of calculations:
- Open/Close – difference between Open and Close;
- High/Low – difference between High and Low.
If the calculation type is Open/Close:
RVR[i] = Abs(Open[i] - Close[i]) / Volume[i]
If the calculation type is High/Low:
RVR[i] = (High[i] - Low[i]) / Volume[i]
Volume - the tick volume of the candlestick
Fig.1. Calculations by Open/Close
Fig.1. Calculations by High/Low
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