PipTick Volume

PipTick Volume indicator is a great tool for measuring tick volume activity. It quickly and easily helps traders to evaluate the current size of volume. The indicator for the classification of the volume size uses the moving average and its multiples. Accordingly, the area where the volume is located (relative to the moving average) is labeled as ultra low, low, average, high, very high or ultra high.

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 a user. Depending on which zone corresponds to the volume, the bar of histogram is colored by appropriate color. This way you can easily recognize how high the volume is, in comparison with the previous bars.

• Ultra Low volume zone - gray
• Low volume zone - white
• Average volume zone - yellow
• High volume zone - gold
• Very High volume zone - dark orange
• Ultra High volume zone - crimson

Main Features

• Simple classification of volume
• Several optional calculation methods
• User selectable ranges of the zones
• Works on every timeframe (M1, M5, M15, M30, H1, H4, D1, W1 and MN)
• Very fast and reliable indicator
• Customizable parameters (colors, line thickness, MA period, etc.)

Input parameters

• 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 Volume - Displays value of average volume by period
• Volume - Displays values of volume
• 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 the PipTick Volume product page.