PipTick VWATR MT5

PipTick VWATR indicator is a helpful tool for measuring of activity of the market. It is based on the idea of the Volume-Weighted ATR. The combination of these two elements helps to identify potential turning points or breakout opportunities. The indicator for the classification of the activity of the market uses moving average and its multiples. Accordingly, where the VWATR bar is located (relative to the moving average), it is labeled as ultra low, low, average, high, very high or ultra high. PipTick VWATR indicator is rendered as a histogram.

This indicator can calculate moving average by four methods:

• SMA - Simple Moving Average
• SMMA - Smoothed Moving Average
• EMA - Exponential Moving Average
• LWMA - Linear Weighted Moving Average

Interpretation

By default, there are six zones which can be changed by user. Depending on which zone corresponds to the VWATR, the bar of histogram is colored by appropriate color.

• Ultra VWATR zone - Crimson
• Low VWATR zone - White
• Average VWATR zone - Aqua
• High VWATR zone - DeepSkyBlue
• Very High VWATR zone - RoyalBlue
• Ultra High VWATR zone - Blue

Main features

• Simple classification of activity of the markets
• Several optional calculation methods
• Real and tick volume calculation
• User selectable ranges of the zones
• Works on every timeframe (M1, M5, M15, M30, H1, H4, D1, W1, MN)
• Very fast and reliable indicator
• Customizable parameters (Colors, Line thickness, MA period...)
• Can be used for creating EA (Expert Advisor)
• Available for MT4 and MT5

Input parameters

• Volume_Method - Allows to choose between Tick and Real volume for calculation
• MA_Method - Allows to choose between SMA, SMMA, LWMA and EMA
• MA_Period - Period of MA calculation
• Line_Thickness - Thickness of output line
• Histogram_Thickness - Thickness of output histogram
• Low_Coefficient - Coefficient for determination low zone
• Average_Coefficient - Coefficient for determination average zone
• High_Coefficient - Coefficient for determination high zone
• Very_High_Coefficient - Coefficient for determination very high zone
• Ultra_High_Coefficient - Coefficient for determination ultra high zone
• Color_Text - Color of indicator text
• Color_MA_Line - Color of MA line
• Color_Ultra_Low - Color of ultra low histogram
• Color_Low - Color of low histogram
• Color_Average - Color of average histogram
• Color_High - Color of high histogram
• Color_Very_High - Color of very high histogram
• Color_Ultra_High - Color of ultra high histogram

Outputs parameters

• Average VWATR - Displays value of average VWATR by period
• VWATR- Displays values of VWATR
• Type - Displays number of zone type. 1 - 6 according the zone. Number 1 means ultra low, 6 means ultra high
• Low - Displays values of low zone. Otherwise value equals zero
• Average - Displays values of average zone. Otherwise value equals zero
• High - Displays values of high zone. Otherwise value equals zero
• Very High - Displays values of very high zone. Otherwise value equals zero
• Ultra High - Displays values of ultra high zone. Otherwise value equals zero

For more information, visit PipTick VWATR product page.