Tick Volume Indicator v2

0
(0)

Historical past and method:

The Tick Quantity Indicator was invented by William Blau and has been revealed in his e-book "Momentum, Path and Divergence" (1995, web page forty three).

The indicator begins with separating the upticks and downticks in every worth bar. The ensuing arrays are smoothed with DEMA (two-cross EMA with durations r and s subsequently). The uncooked TVI is calculated with the next formulation:

DEMA(upticks) - DEMA(downticks)

TVI_Raw = one hundred * ---------------------------------

DEMA(upticks) + DEMA(downticks)

... and the ultimate TVI form is made by further EMA smoothing with a interval of u.

Utilization:

In addition to utilizing TVI for divergence, I've discovered the change of TVI slope to be a really helpful and exact proxy for change in worth path, particularly in durations of excessive volatility briefly timeframes.

Different MQL4 variations:

The indicator was carried out in MQL4 by Profitrader a few years in the past, utilizing all out there buffers for calculations and plotting a single line. I've discovered a number of coloured histogram variations throughout the Internet, all of them referred to as the tvi.mq4 by way of iCustom() and all repaint due to poor coding. So I made a decision to make myself a correct stand-alone histogram variant. 7 native buffers and 6 additional buffers (by way of arrays) are used. It is going to by no means repaint.

Tick Volume Indicator v2 2

Settings:

  • r, s and u are the smoothing durations (see above). Attempt 21/21/8 for slower mode.
  • To cover the histogram and solely use the road, set colours 1-4 to None.
  • To cover the road and solely use the histogram, set shade 5 to None.
  • BarCount is important for array dimensioning and shifting (carried out as soon as per bar).
  • If you want to see extra historical past, improve BarCount (default = 500).
  • Alerts (if allowed) can be made on specified AlertCandle (0=present, 1=final closed, 2=earlier closed, ect).
  • For sending alerts per e-mail, specify the AlertEmailSubject.

Hooked up Information :

 

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

We are sorry that this post was not useful for you!

Let us improve this post!

Tell us how we can improve this post?



Author: Forex Wiki Team
We are a team of highly experienced Forex Traders [2000-2023] who are dedicated to living life on our own terms. Our primary objective is to attain financial independence and freedom, and we have pursued self-education and gained extensive experience in the Forex market as our means to achieve a self-sustainable lifestyle.