The most of Forex / CFD trading platforms show the tick volume as bars on the bottom of the chart without any extra detail so traders will not be able to get anything out of the provided volume data, our Advanced Volume indicator separates each bar tick volume to bullish or bearish volume and you will be able to see how much of a bar volume is bullish or bearish both in terms of ticks number and percentage.
The indicator uses two different approaches for the classification of volume data if the bar is historical the indicator uses the bar close price as a border between bullish and bearish volume:
bullish volume = percentage of the bar range below its close price x total bar volume bearish volume = percentage of the bar range above its close price x total bar volume
If the bar is the current bar or latest bar in the chart and you enabled the indicator “Use Live Data” parameter then indicator counts each upcoming uptick as bullish and downtick as bearish volume for that specific bar.
- Works on cTrader both standard and tick charts
- Easy to setup
- Setting different color for bullish and bearish volume