Smoothed Range Volume Ratio
Info
The Smoothed Range Volume Ratio is a Indicator for MetaTrader 5 that smoothed range volume ratio is an oscillator indicator that displays candlestick size / tick volume ratios in a separate window as a histogram. It calculates the difference between open and close, and high and low values, and presents these as columns in the histogram.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Smoothed Range Volume Ratio
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.
What this tool does
Smoothed Range Volume Ratio is an oscillator indicator that displays candlestick size / tick volume ratios in a separate window as a histogram.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: ADX Auto Range: Automated Trend Strength and Consolidation Detection - another powerful indicator for MetaTrader 5 traders.
Smoothed Range Volume Ratio is an oscillator indicator that displays candlestick size / tick volume ratios in a separate window as a histogram. It calculates the difference between open and close, and high and low values, and presents these as columns in the histogram.Also recommended: Session Range Breakout: Asia, London, and New York High/Low Levels - similar indicator with strong performance on MetaTrader 5.
A signal line is plotted by smoothing the histogram values. The histogram columns can be displayed in two ways:
- By the value of the previous column: Green if the previous column is above the signal line, otherwise orange.
- One-color histogram: All columns are of a single color.
The indicator has four input parameters:
- Calculation type: Open/Close or High/Low.
- Period: Smoothing period for the signal line.
- MA method: Signal line calculation method.
- Colors setting: By previous bar position or one color.
Calculations are based on the selected calculation type:
If Open/Close is selected:
If High/Low is selected:
Fig.1. Calculations by Open/Close, One Color
Fig.2. Calculations by Open/Close, Color by Previous Column
Fig.3. Calculations by High/Low, Color by Previous Column
You may also like: ATR Monitor — Daily, Weekly, and Monthly Range - excellent alternative for indicator users on MetaTrader 5.
Source Code
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⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.