Pip / Volume indicator

[Patrick Sweet]

HI
Do we have a simple volume/pip indicator somewhere?
Simple Vol/(h-l) or Vol/(open-close)
Or Something like the attached?
Patrick

[Patrick Sweet]

I found bill williams MFI which = (H-L)/Volume....I thought....but it makes no sense.

[LeTigre30]

Hi Patrick Sweet,

Perhaps this can help

http://fxcodebase.com/code/viewtopic.php?f=17&t=23668&start=40#p90543

if you detail your request, I'll try to modify the ZigZag Pip Counter

Rgds,

LeTigre30

[Patrick Sweet]

Thank you!
Let me play with this and see if I can get what I want without modificatons.
But I am looking for a simpl

volume traded divided by the number of net pips moved up or net pips moved down.

Vol / (H-L)

with option

Vol / (Close -Open)

Not even sure what it will do which is why I look before seeking programming.

My gut says that high volume with low price movement (compared to last bar) = resistance to move (stuck price) AND if that Vol/pip movement weakness is agains trend, it is support of trend.

Conversely, if low vol and high price move, a) price manipulation or b) if peak trading time, short term capitulation (no counter moves).

Or high vol high price move = strong move. Etc.

I can see this with volume bars and better volume indie, but a metric could help my poor eyeballs on the midrange volume calls. Extreme low and extreme high vol is easy to see...but the bar by bar or 2bar by 2bar assessment is difficult to see and count on the fly.

Patrick

[Apprentice]

Try this version
viewtopic.php?f=17&t=60274