Wmi Vol
This is a powerful addition to your MetaTrader 5 toolkit designed to optimize market analysis and performance. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Wmi Vol
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
Description & Settings
Murad Ismayilov
It is often the case that you need to find out an optimal trading time when quotes are rapidly changing (for instance from 7.00 a.m. to 9.00 p.m.). It may constitute a problem if you are not familiar with the instrument. This indicators reads all bars on the chart and displays statistics concerning time of a day with the biggest activity. Candle height is chosen as activity criterion (High minus Low). High activity is highlighted by blue bars, low activity is highlighted by pink bars. The indicator can be used as a filter for various strategies requiring high instrument activity.
This indicator was first implemented in MQL4 and published in on February 28, 2014.
Fig.1. WmiVol Indicator
