PipTick VWATR MT4
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 (MT5)
- 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
For more information, visit PipTick VWATR product page.
Input parameters
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